Share Option Agreement

RNS Number : 7568H

Symphony Environmental Tech. PLC

18 March 2015

 

18 March 2015

Symphony Environmental Technologies Plc

("Symphony")

Share Option Agreement

Symphony Environmental Technologies Plc (AIM: SYM), global specialists in "making plastic smarter", with d2w controlled-life, d2p anti-bacterial and d2t anti-counterfeiting technologies is pleased to announce the completion of an Option Agreement with Mr Bob Wigley, who has introduced the Company and has agreed to make further high-level introductions to help promote the Company and its business.

The Agreement provides an Option for 3 years, to purchase 200,000 Ordinary shares of 1p each in the capital of the Company at an exercise price of 10 pence per share.

Nirj Deva Chairman of Symphony Environmental Technologies said: I am very pleased that Bob Wigley has agreed to help connect Symphony into his broad network of business and international connections. These are exciting and important times for the Company, and I look forward to the development of a progressive and mutually beneficial relationship.

Bob Wigley said: I have identified Symphony as a company with great potential and I am happy to help the company to realise that potential.

About Mr Wigley: In January, 2009, Bob Wigley resigned as Chairman of Merrill Lynch Europe, Middle East and Africa following the completion of the takeover by Bank of America. Since 2004, Bob had chaired Merrill Lynch's EMEA Region Executive Committee with responsibility for a business with $6bn of revenue, $3bn of pretax income and 8,000 employees in 23 countries.  He also sat on Merrill Lynch's Global Operating Committee and Client Coverage Council. During this time, he was a member of the Senior Practitioner Committee of the Financial Services Authority, and the FSA's nominated representative on the Market Consultative Panel of the Council of European Securities Regulators.

Between 2006 and 2009, Bob Wigley was a member of the Court of the Bank of England and of its Risk Policy and Audit Committees, prior to which he was a Non Executive Director of Royal Mail Group plc and Chairman of its Audit Committee for 3 years.   He is a member of the International Business Advisory Board of British Airways.  He is on the Advisory Board of the venture capital firm Bluegem LLP and is a Trustee of the Peter Jones Foundation.  He is a Visiting Fellow at Oxford University and Chairman of Oxford University's Centre for Corporate Reputation.  He is a member of the Advisory Board of Cranfield School of Management's Doughty Centre for Corporate Social Responsibility,

He is Chairman of NetOTC, First Global Trust Bank (Llamabrook plc), Justinvesting plc, Tantalum Corporation plc, Captive Minds Communications Group Ltd, Stonehaven Search LLP  .  He is a director of Tetronics International Ltd., and  chairs the Courtyard Appeal for the Royal College of Music and sits on its Council.  He is a Fellow of the Institute of Chartered Accountants and has a business degree and an honorary doctorate from Bath University.. 

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Contacts

Symphony Environmental Technologies Plc
Michael Laurier, CEO	Tel: [phone]
Ian Bristow, FD
Cantor Fitzgerald Europe
Mark Percy, David Foreman (Corporate Finance)	Tel: [phone]
David Banks (Corporate Broking)

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, mold and insects.

Symphony has also 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.  Symphony's d2w is the only biodegradable additive to be awarded the internationally-recognised EcoLabel by ABNT Brasil.  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) 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 French Standards Organization AFNOR, 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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