Director/PDMR Shareholding - Extension of Options

RNS Number : 1189E

Symphony Environmental Tech. PLC

16 October 2018

 

16 October 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

SYMPHONY ENVIRONMENTAL TECHNOLOGIES PLC

("Symphony", the "Company" or the "Group")

Director/PDMR Shareholdings - Extension of term of Options

Symphony Environmental Technologies Plc (AIM: SYM), a global specialist in products and technologies that "make plastic and rubber products smarter", announces amendments to long-term options held by certain directors of the Company.

The Company had previously granted options ("Options") to purchase 8,901,500 ordinary shares of 1p each in the Company ("Ordinary Shares") which are due to expire in 2018.  Certain directors of the Company ("Option Directors") hold 8,851,500 of these Options (see PDMR disclosure tables for further information below).

Robert Wigley and Shaun Robinson, being directors of the Company who are not Option Directors, commissioned an independent remuneration report on the impact of extending or not extending the Options.  The report concluded that it was in the best interests of all shareholders that the exercise period of the Options be extended.  Consequently, Mr. Wigley and Mr. Robinson recommended to the Board, who agreed, that the expiry dates of the Options be extended by 12 months for all except one, which will be extended by approximately 13 months in order to make the Option periods co-terminus.  All other terms of the Options remain the same.

Enquiries

Symphony Environmental Technologies Plc                                                   

Michael Laurier, CEO                                                                                                 Tel: [phone]

Ian Bristow, CFO               www.symphonyenvironmental.com      

Cantor Fitzgerald Europe (Nominated Adviser and Broker)                     

David Foreman, Richard Salmond, Michael Boot (Corporate Finance)            Tel: [phone]

Caspar Shand Kydd (Sales)                                                                                     

FTI Consulting (Financial PR)                                                                                 

Daniel Hamilton                                                                                                          Tel: [phone]

Notification and public disclosure of transactions by Persons Discharging Managerial Responsibilities ("PDMR") and persons closely associated with them ("PCA")

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014
1	Details of the person discharging managerial responsibilities/person closely associated
a.	Name	Michael Laurier
2	Reason for notification
a.	Position/Status	PDMR Director of Symphony Environmental Technologies plc
b.	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	Symphony Environmental Technologies plc
b.	LEI	N/A
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a.	Description of the financial instrument, type of instrument Identification Code	Options over Ordinary Shares of 1p each   ISIN: GB0009589168
b.	Nature of the transaction	Extension of option exercise period to 26 November 2019
c.	Price(s) and volume(s)
			Price(s)	Volume(s)
			n/a	1,851,500
d.	Aggregated information - Aggregated Volume - Price	Volume: 1,851,500 Price:  n/a
e.	Date of the transaction	2018-10-15
f.	Place of the transaction	Outside of trading venue

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014
1	Details of the person discharging managerial responsibilities/person closely associated
a.	Name	Nirj Deva
2	Reason for notification
a.	Position/Status	PDMR Director of Symphony Environmental Technologies plc
b.	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	Symphony Environmental Technologies plc
b.	LEI	N/A
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a.	Description of the financial instrument, type of instrument Identification Code	Options over Ordinary Shares of 1p each   ISIN: GB0009589168
b.	Nature of the transaction	Extension of option exercise period to 26 November 2019
c.	Price(s) and volume(s)
			Price(s)	Volume(s)
			n/a	1,500,000
d.	Aggregated information - Aggregated Volume - Price	Volume: 1,500,000 Price:  n/a
e.	Date of the transaction	2018-10-15
f.	Place of the transaction	Outside of trading venue

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014
1	Details of the person discharging managerial responsibilities/person closely associated
a.	Name	Ian Bristow
2	Reason for notification
a.	Position/Status	PDMR Director of Symphony Environmental Technologies plc
b.	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	Symphony Environmental Technologies plc
b.	LEI	N/A
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a.	Description of the financial instrument, type of instrument Identification Code	Options over Ordinary Shares of 1p each   ISIN: GB0009589168
b.	Nature of the transaction	Extension of option exercise period to 26 November 2019
c.	Price(s) and volume(s)
			Price(s)	Volume(s)
			n/a	3,000,000
d.	Aggregated information - Aggregated Volume - Price	Volume: 3,000,000 Price:  n/a
e.	Date of the transaction	2018-10-15
f.	Place of the transaction	Outside of trading venue

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014
1	Details of the person discharging managerial responsibilities/person closely associated
a.	Name	Michael Stephen
2	Reason for notification
a.	Position/Status	PDMR Director of Symphony Environmental Technologies plc
b.	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	Symphony Environmental Technologies plc
b.	LEI	N/A
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a.	Description of the financial instrument, type of instrument Identification Code	Options over Ordinary Shares of 1p each   ISIN: GB0009589168
b.	Nature of the transaction	Extension of option exercise period to 26 November 2019
c.	Price(s) and volume(s)
			Price(s)	Volume(s)
			n/a	2,000,000
d.	Aggregated information - Aggregated Volume - Price	Volume: 2,000,000 Price:  n/a
e.	Date of the transaction	2018-10-15
f.	Place of the transaction	Outside of trading venue

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014
1	Details of the person discharging managerial responsibilities/person closely associated
a.	Name	Nicolas Clavel
2	Reason for notification
a.	Position/Status	PDMR Director of Symphony Environmental Technologies plc
b.	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	Symphony Environmental Technologies plc
b.	LEI	N/A
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a.	Description of the financial instrument, type of instrument Identification Code	Options over Ordinary Shares of 1p each   ISIN: GB0009589168
b.	Nature of the transaction	Extension of option exercise period to 26 November 2019
c.	Price(s) and volume(s)
			Price(s)	Volume(s)
			n/a	500,000
d.	Aggregated information - Aggregated Volume - Price	Volume: 500,000 Price:  n/a
e.	Date of the transaction	2018-10-15
f.	Place of the transaction	Outside of trading venue

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. 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.  

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, moulds, 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.

BBC World Service film introducing d2w oxo-biodegradable (controlled-life) plastic technology  

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   

 

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