News Archive
Debt conversion, exercise of warrants and Directors' Interests
Eden Research plc, a leading UK agrochemical development company, is pleased to announce that on 29 June 2011 Sir Ben Gill and Ken Brooks, Directors of the Company, converted GBP 15,000 and GBP 100,000 respectively of short term debt into 83,333 ordinary shares and 555,556 ordinary shares in the Company
at a price of 18p.
In addition, GBP 2,722,131 of long term debt has been converted into 15,122,951 ordinary shares in the Company, also at a price of 18p.
Also, warrants to subscribe for 555,556 ordinary shares in the Company have been exercised at a price of 18p each. The net proceeds received by the Company from the exercise of the warrants are GBP100,000.
Following this debt conversion and warrant exercise, Eden has 99,303,596 ordinary shares in issue and the Directors are now interested in a total of 2,290,782 ordinary shares, representing 2.31 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 | 0.16 |
| K Brooks | 1,486,566 | 1.50 |
| B Gill | 469,181 | 0.47 |
| C Newitt | 179,095 | 0.18 |
The Directors of Eden are responsible for the contents of this announcement.
Enquiries:
Eden Research plc
01993 862761
Clive Newitt, Managing Director
St Helens Capital Partners LLP
020 7368 6959
Mark Anwyl
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.
For more information about Eden, please visit www.edenresearch.com
For more information about FASST Products LLC, please visit www.fasstproducts.com