Symphony Plastic Technologies PLC
17 November 2005
17TH November 2005
Symphony Plastic Technologies PLC
Issue of Warrants
Symphony Plastic Technologies ('Symphony'), the degradable plastics company,
announces that, as stated in the interim report dated 30 September 2005,
significant measures have been undertaken by the company to reduce costs. These
measures have included a reduction in staff levels, renegotiation of advisers'
terms and significant salary cuts volunteered by senior members of the Company
management team. In response to these cuts the Board of Symphony has deemed it
appropriate to issue warrants to staff and advisers who have elected to reduce
salaries or fees.
A total of 4.83million warrants exercisable at 12 pence per 1 pence ordinary
share have been issued and have been apportioned in the following way:
M Laurier 1,100,000
A Blacher 990,000
I Bristow 990,000
K Frener 450,000
N Deva 200,000
In addition, 1,100,000 warrants have been issued to other employees and
advisers.
The warrants are exercisable for a period of five years.
For more information, please contact:
For further information:
Symphony Plastic Technologies Plc
Michael Laurier, CEO
Ian Bristow, FD +44 (0)20 8207 5900
Citigate Dewe Rogerson
Patrick Toyne Sewell / Ged Brumby +44 (0)20 7638 9571
Further information on Symphony Plastic Technologies plc
Symphony develops and supplies environmentally responsible plastic packaging
products and additives which are distributed both in the UK and internationally.
The Group's main technology, d2w(R), allows plastic to degrade totally and
safely, leaving only water, a minimal amount of carbon dioxide and trace amounts
of non-toxic biomass. The current d2w(R) product range now includes additives,
carrier bags, refuse and waste sacks, mailing wrap, stretch film, aprons, and
packaging films.
Symphony has a diverse customer base in the UK and a growing overseas
distribution network. Further information on Symphony can be found at
www.symphonyplastics.com and product information at www.degradable.net.
This information is provided by RNS
The company news service from the London Stock Exchange
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