Exercise of Warrants and Director Dealing

RNS Number : 7471O

Symphony Environmental Tech. PLC

21 May 2018

 

The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this information is considered to be in the public domain

21 May 2018 

SYMPHONY ENVIRONMENTAL TECHNOLOGIES PLC

Exercise of Warrants and Director Dealing

Symphony Environmental Technologies Plc ("Symphony" or "Company") announces that the Company has received notice to exercise warrants representing 2,200,000 new ordinary shares of 1p each in the Company ("Warrant Shares") by Somerston Environmental Technologies Limited ("Somerston"). The warrants were granted on 9 June 2015.

The Warrant Shares (which will rank pari passu with the Company's existing Ordinary Shares in issue) will be issued and allotted ("Allotment") on or around 29 May 2018. Upon Allotment, Symphony will receive £330,000 cash proceeds.  Application will then be made for the Warrant Shares to be admitted to trading on AIM ("Admission") which is expected to take place at 8.00 a.m. on 4 June 2018.

Following Admission, the enlarged issued share capital of the Company will be 154,344,377 Ordinary Shares. The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Disclosure and Transparency Rules.

Following Allotment, Somerston will be interested in 33,710,000 Ordinary Shares representing approximately 21.8% of the enlarged issued share capital of the Company.

Mr Shaun Robinson, a non-executive director of Symphony, has a 15.3% interest in Somerston and his beneficial interests in the Company following Allotment will increase by 337,333 Ordinary Shares to 11,513,546 Ordinary Shares representing approximately 7.5% of the enlarged issued share capital of the Company.

Enquiries

Symphony Environmental Technologies Plc
Michael Laurier, CEO	Tel: [phone]
Ian Bristow, CFO
www.symphonyenvironmental.com
Cantor Fitzgerald Europe
David Foreman/Richard Salmond (Corporate Finance)	Tel: [phone]
Alex Pollen (Sales)

NOTES TO EDITORS:

About Symphony Environmental Technologies plc

Symphony has developed and continues to develop, controlled-life plastic technology which helps tackle the problem of microplastics by turning ordinary plastic at the end of its service-life into biodegradable materials. It is then no longer a plastic and can be bioassimilated in the open environment in the same way as a leaf. The technology is branded d₂w® and appears as a droplet logo on many thousands of tonnes of plastic packaging and other plastic products around the world. In some countries, most recently Saudi Arabia, oxo-biodegradable plastic is mandatory. 

To view a short BBC World Service film introducing d2w oxo-biodegradable (controlled-life) plastic technology please click on one of the following links: 

From within the UK- http://www.symphonyenvironmental.com/d2w/d2w-brochure-5/

From outside of the UK - http://www.bbc.com/storyworks/the-british-bid/symphony 

In addition, Symphony has developed a range of additives, concentrates and master-batches marketed under its d2p® brand, which can be incorporated in a wide variety of plastic and non-plastic products so as to give them protection against many different types of bacteria, fungi, algae, and insects, and against fire. d2p products also include odour, moisture and ethylene adsorbers as well as other types of food-preserving technologies. We have also launched d2p anti-microbial household gloves and are developing a range of other d2p finished products for retail sale.

Symphony has also developed the d₂Detector®, a portable device which analyses plastics and detects counterfeit products.  This is useful to government officials tasked with enforcing legislation, and Symphony's d₂t tagging and tracer technology is available for further security.

Symphony has a diverse and growing customer-base and has established itself as an international business with 74 distributors around the world. Products made with Symphony's plastic technologies are now available in nearly 100 countries and in many different product applications. Symphony itself is accredited to ISO9001 and ISO14001.

Symphony is a member of The Oxo-biodegradable Plastics Association (www.biodeg.org) (OPA), the Society for the Chemical Industry (UK), and the Pacific Basin Environmental Council. Symphony is also a strategic partner of the Commonwealth business initiative, and actively participates in the Committee work of the British Standards Institute (BSI), the American Standards Organisation (ASTM), the European Standards Organisation (CEN), and the International Standards Organisation (ISO).

Further information on the Symphony Group can be found at www.symphonyenvironmental.com and twitter @SymphonyEnv  See also Symphony on Instagram   A Symphony App is available for downloading to smartphones.

 

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