News Archive
Debt conversion, exercise of warrants, Directors' Interests and grant of options
Eden Research plc, a leading UK agrochemical development company, is pleased to announce that GBP 550,000 of long term debt has been converted into 4,400,000 ordinary shares in the Company at a price of 12.5p.
Also, 1,557,849 warrants have been exercised at a price of 13p.
Following this debt conversion and exercise of warrants, Eden has 72,986,200 ordinary shares in issue, of which the Directors are interested in a total of 1,651,893 ordinary shares, representing 2.27 per cent of the Company's enlarged issued share capital, as follows:
| Director | No of shares held | % of enlarged share capital |
| A Abrey | 155,940 | 0.21 |
| K Brooks | 931,010 | 1.28 |
| B Gill | 385,848 | 0.53 |
| C Newitt | 179,095 | 0.25 |
In addition to this, on 17 January 2011, the Company granted options to the following directors under the terms of its Share Option Scheme:
| Director | Share options granted | Total options held |
| A Abrey | 1,050,000 | 1,050,000 |
| K Brooks | 1,100,000 | 2,500,000 |
| B Gill | 500,000 | 600,000 |
| C Newitt | 450,000 | 600,000 |
The new options can be exercised at a price of 13 pence per share at any time up to 16 January 2016. The Directors of Eden are responsible for the contents of this announcement.
Enquiries:
Eden Research plc
Clive Newitt, Managing Director
01993 862761
St Helens Capital Partners LLP
Mark Anwyl
020 7368 6959
Notes:
Eden's strategy is focused on the development and commercialisation of its terpene-based encapsulation technology for agricultural and non-agricultural uses through appropriate regional or global partnerships.
Terpenes are natural compounds which function as defence mechanisms in many plant groups and are released in response to infection, attack by pests, stress or mechanical injury. Terpenes are already widely used in the food flavouring, cosmetic and pharmaceutical industries.
Historically, terpenes have had limited commercial use in the agrochemical sector due to their volatility, phytotoxicity and poor solubility. Eden's platform encapsulation technology provides the unique, natural solution to these problems and enables terpenes to be used as effective, low-risk agrochemicals.