Symphony Environmental Tech. PLC Extension of warrants (6727T)
July 22 2020 - 1:00AM
UK Regulatory
TIDMSYM
RNS Number : 6727T
Symphony Environmental Tech. PLC
22 July 2020
22 July 2020
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
SYMPHONY ENVIRONMENTAL TECHNOLOGIES PLC
("Symphony", the "Company" or the "Group")
Extension of warrants
Symphony Environmental Technologies Plc (AIM: SYM), a global
specialist in technologies to enhance the properties of plastic and
some non-plastic products by making them biodegradable, and/or to
provide protection against threats to health and safety, announces
that it has extended the subscription period of warrants granted
over 5,000,000 ordinary shares of 1p each in the Company ("Ordinary
Shares") which were granted on 19 July 2019 to Vincel Investment
Holdings Limited ("Vincel")(the "Warrant Extension"). All other
terms and conditions remain the same. The subscription period of
the further 5,000,000 warrants that were also granted on 19 July
2019 but with an exercise price of 25p, remains the same.
Accordingly, the revised terms of the warrants granted to Vincel
are as follows:
No. of warrants Subscription period Exercise price
granted
26 July 2019 to 25 November
5,000,000 2020 20p
---------------------------- ---------------
26 July 2019 to 25 July
5,000,000 2021 25p
---------------------------- ---------------
Due to Vincel's existing shareholding in Symphony, together with
the potential further Ordinary Shares issuable should the warrants
be exercised, the Warrants Extension is considered to be a related
party transaction in accordance with the AIM Rules for
Companies.
Accordingly, the board of directors of the Company consider,
having consulted with the Company's nominated adviser, that the
Warrant Extension is fair and reasonable insofar as the Company's
shareholders are concerned.
Enquiries
Symphony Environmental Technologies Plc
Michael Laurier, CEO Tel: +44 (0) 20 8207 5900
Ian Bristow, CFO
www.symphonyenvironmental.com
Zeus Capital Limited (Nominated Adviser and Joint
Broker)
Nick Cowles / David Foreman / Kieran Russell (Corporate Tel: +44 (0) 161 831 1512
Finance)
Dominic King / Victoria Ayton (Sales) Tel: +44 (0) 203 829 5000
Hybridan LLP (Joint Broker)
Claire Louise Noyce Tel: +44 (0) 203 764 2341
The person responsible for arranging the release of this
information is Michael Laurier, CEO of the Company.
NOTES TO EDITORS:
About Symphony Environmental Technologies plc
www.symphonyenvironmental.com
Symphony has developed a range of additives, concentrates and
master-batches marketed under its d2p(R) ("designed to protect")
trademark, which can be incorporated in a wide variety of plastic
and non-plastic products so as to provide protection against many
different types of microbes, and insects and rodents, and against
fire. d2p products also include odour, moisture and ethylene
adsorbers as well as other types of food-preserving technologies.
Symphony has also launched d2p anti-microbial household gloves and
toothbrushes and is developing a range of other d2p finished
products for retail sale. See www.d2p.net
Symphony has developed and continues to develop and market, a
biodegradable 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 a
similar way to a leaf. The technology is branded d2w(R) 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.
See www.d2w.net
The Group has complemented its d2w biodegradable product range
with d2c "compostable resins and products" that have been tested to
US and EU composting standards.
Symphony has also developed the d2Detector(R), 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 OPA (www.biodeg.org) 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 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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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