Result of AGM and Directorate Change

RNS Number : 3456R

Symphony Environmental Tech. PLC

26 June 2015

 

26 June 2015

Symphony Environmental Technologies Plc

("Symphony" or the "Company")

Result of AGM and Directorate Change

Symphony Environmental Technologies plc (AIM: SYM) announces that all resolutions put to shareholders at the Company's Annual General Meeting ("AGM") held today, were duly passed.

At the AGM, Michael Laurier, Chief Executive of Symphony, made the following statement:

"Further to statements made in our 2014 preliminary results announcement on 13 April 2015, the Company continues to generate momentum in all operating parts of the business.

"Our d2w technology is expanding into new markets that are increasingly focused on regulations, sustainability and the need to protect brand value from a corporate, retail and consumer perspective.

"I am also pleased to report that product trials and order negotiations continue at a high level for the d2p anti-microbial technologies.

"Current trading is so far consistent with 2014 and we remain cautious with the timing of new orders for both d2w and d2p due to the complexities involved with trials, evaluations and the whole decision making  process.

"We are delighted that Somerston increased its holding in Symphony as announced on 9 June 2015, with a £500,000 investment, which was at a 16% premium to the prevailing share price at that time.

"The level and quality of the development work being carried out is encouraging, and the senior management team is optimistic regarding the future sales potential that is being created all around the world.

"I would like to conclude by advising that Michael F Stephens will retire from the Board today which will allow him to focus more of his time and energy on executing the high level of technical input required on closing the many major projects in which Symphony is engaged."

For further information, contact:

Symphony Environmental Technologies Plc
Michael Laurier, CEO	Tel: [phone]
Ian Bristow, FD
Cantor Fitzgerald Europe
David Foreman / Michael Reynolds (Corporate Finance)	Tel: [phone]
David Banks / Tessa Sillars (Corporate Broking)
Blytheweigh
Halimah Hussain Andrea Benton	Tel: [phone]

About Symphony Environmental Technologies plc

Symphony has developed a range of additives, concentrates and master-batches marketed as d2p, which can be incorporated in a wide variety of plastic and non-plastic products and applications so as to give them protection against many different types of bacteria, fungi, algae, mould and insects.

In addition Symphony has developed controlled-life plastic technology which turns 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 the same way as a leaf. 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 oxo-biodegradable plastic is mandatory.  For a video of d2w® plastic degrading see http://degradable.net/play-videos/4.

In addition Symphony has developed the d2Detector®, a portable device which analyses plastics and detects counterfeit products.  Symphony's d2t tagging and tracer technology is also available for further security. See www.d2t.net

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 97countries and in many different product applications. Symphony is certified 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 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.

 

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