Directorate Change

RNS Number : 9868F

Symphony Environmental Tech. PLC

16 October 2008

 



16 October 2008

SYMPHONY ENVIRONMENTAL TECHNOLOGIES PLC

Board Appointments

Symphony Environmental Technologies plc ('Symphony' or 'the Group'), the degradable plastics and waste-to-energy Group, is pleased to announce a restructuring of the Board and Management Team.  

Change of Director status

Michael Stephen, who became a Non-executive Director on 3 August 2007, has agreed to be an Executive Director of Symphony. He will be the Commercial Director, with responsibility for corporate development, intellectual property, legal affairs, and public relations. He remains Deputy Chairman of the Group and Chairman of its three operating subsidiaries.

New Non-executive Directors

Nicolas Clavel and Hugo Swire have joined the Board as Non-executive Directors.  

Nicolas Clavel (50) started his career in international banking in the mid seventies and his area of expertise has been structured trade finance and equity investments with a particular focus on Emerging Markets.  He is Chief Investment Officer of Scipion Capital Ltd., (the Investment Manager of Scipion African Opportunities Fund SPC).  Nicolas is Swiss, and is based in London and Geneva. He is fluent in English, French, Italian and German.

Hugo Swire (48) is a Member of the UK Parliament, with strong business connections in the Far East and the Middle East. He is currently Non-executive Chairman of Photo-Me International Plc. He was a Member of the Advisory Board of Quest, a Consultant to AON, Director (Chairman's Office) Sotheby's UK, and Head of Development of the National Gallery, London. He was a Financial Consultant with Streets Financial, and co-Founder and Director of International News Services (Prospect Films).

Nicolas Clavel, is a director or has been a director of the following companies during the previous five years:

Current Directorships or partnerships:	Past Directorships within the last 5 years:
Scipion Capital Ltd (Cayman Is.)	None
Scipion Capital (UK) Limited
Scipion Capital LLP

Hugo Swire is a director or has been a director of the following companies during the previous five years:

Current Directorships or partnerships:	Past Directorships within the last 5 years:
Photo-Me International plc	None

There are no further disclosures to be made in relation to Nicolas Clavel and Hugo Swire pursuant to Schedule Two, paragraph (g) of the AIM Rules for Companies.

Award of Options

Nicolas Clavel and Hugo Swire have each been granted today options to subscribe for 500,000 ordinary shares in the Company which may be exercised at any time after the first anniversary of the grant and up to the tenth anniversary of the grant, at an exercise price of 4.5p per share. The exercise of the options is subject to Nicolas Clavel and Hugo Swire each having served as a Non-executive Director for at least a year, and the bid price of the Company's ordinary shares on the AIM market of the London Stock Exchange having risen to at least 8.25p.

Symphony's Chief Executive, Michael Laurier, said, 'Michael Stephen has added invaluable skills to the Board over the past 14 months. In particular, his legal and intellectual property skills have enabled expansion of the Group's global distributor network over that period. Michael has also ensured that key PR and legislative actions have been coordinated throughout the worldwide distributor network.  

We also welcome Nicolas Clavel and Hugo Swire to the Board. I believe that their combined expertise and experience will prove invaluable to the Company as we continue to move forward and develop new strategic initiatives.'  

Contacts

Symphony
Michael Laurier, CEO	Tel: [phone]
Ian Bristow, FD
HB Corporate
Rod Venables	Tel: [phone]

Further information on the Symphony Environmental Technologies Group of companies:

SYMPHONY ENVIRONMENTAL TECHNOLOGIES PLC is a world leader in oxo-biodegradable eco-compatible plastic technology. The technology is recognised by the d2w® droplet logo on many thousands of tonnes of plastic products.  

Symphony has a diverse and growing customer base and has established itself successfully as an international business. Its d2w® products can be found in more than 50 countries around the world and in many different product applications. Symphony is proud to be a member of the Oxo-biodegradable Plastics Association (www.biodeg.org).

Symphony is also developing innovative waste-to-energy technology and cost-effective processes to convert plastics, tyres and other waste-streams into valuable products.

Further information on the Symphony Group can be found at www.degradable.net

 

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