Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

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For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

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In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

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HOW WE USE INFORMATION

We store and use information you provide as follows:

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We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

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Eden Research plc (EDEN)

  Print      Mail a friend       Annual reports

Thursday 11 January, 2018

Eden Research plc

Year-end Trading Statement

RNS Number : 5494B
Eden Research plc
11 January 2018
 

 

Eden Research Plc

("Eden" or "Company")

 

Year-end trading update

 

Eden Research plc (AIM: EDEN), the AIM listed company that develops and supplies breakthrough biopesticide products and natural microencapsulation technologies to the global agrochemicals, animal health and consumer products industries, provides the following trading update for the year ended 31 December 2017.

 

The Group has delivered a robust performance for the year with revenue expected to be in the region of £1.9m, significantly up from £0.4m in 2016, with a loss before tax of approximately £0.9m (2016: loss of £1.9m).  Cash at bank at 31 December 2017 was c. £3.7m (2016:  £1.5m).  This was a good performance since the 2017 growing season was challenging for fungicidal products in many southern European countries due to hard frosts in April followed by high heat and drought in the summer.  These well-documented conditions resulted in the smallest harvests in 60 years in key markets such as France and Italy.

 

During the year, regulatory approval was granted for Eden's first agrochemical fungicide product, 3AEY, and first commercial sales were achieved in France with further approvals received in Cyprus, Albania and Portugal. The Company extended its 3AEY patent protection in Spain, Greece, Bulgaria and Cyprus and its nematicide patent was granted in the US.  Overall, the Company is encouraged by the level of sales of 3AEY and its continued acceptance into the market.

 

Eden's patent portfolio grew to 78 granted patents during the year (2016: 74) with a further 52 pending patents (2016: 38).

 

Multiple commercial agreements were signed with Sipcam SpA ("Sipcam") during the year, including an Evaluation and Option Agreement, for which a fee of €0.6m (£0.5m) was paid to Eden, and a Collaboration Agreement establishing a long-term collaborative partnership.

 

As reported on 12 December 2016, Eden's distribution partner, Eastman Chemical, announced the submission of the regulatory dossiers for its new nematicide, CedrozTM, which was developed by Eden. Cedroz will be a new tool for farmers to control a wide range of economically important nematodes with the first sales expected in advance of the 2020 growing season. Eastman made significant progress during the year with the submission of applications for the far-reaching registration of Cedroz across a number of territories and are building an impressive platform for the commercialisation of Cedroz as an important solution to the challenges that nematodes create for farmers globally.

 

Sean Smith, Chief Executive Officer of Eden, said: "2017 was a good year for the Company with a number of significant advancements made. We remain focussed on execution under our recent agreements with Sipcam and Eastman Chemical, as these partnerships provide us with resources and capabilities to achieve strong future growth. For the first time since launching 3AEY in 2015, Eden will benefit from a full season of sales in 2018 in the world's top three wine producing countries of Italy, France and Spain.  Additionally, sales will continue to develop in Albania, Bulgaria, Cyprus, Greece, Kenya and Portugal.

 

"Despite challenging growing conditions in key territories and a shortened marketing campaign in France, we are pleased with the progress made in 2017 and we look forward to providing a further update when we report our full year results for the year ended 31 December 2017 in March."

 

For further information, please contact:

 

Eden Research plc

www.edenresearch.com

 

Sean Smith, CEO

Alex Abrey, CFO

01285 359 555

 

 

 

 

Shore Capital (Nomad)

020 7408 4090

 

Stephane Auton / Patrick Castle

 

 

 

 

 

Powerscourt

020 7250 1446

 

Nick Dibden

 

 

 

 

 

       

 

Notes:

 

Eden Research is a technology development and commercialisation company with intellectual property and expertise in encapsulation, terpenes and environmentally friendly technologies to provide naturally occurring solutions for the global agrochemicals, animal health, and consumer product industries.

 

Eden's encapsulation technology harnesses the biocidal efficacy of naturally occurring chemicals produced by plants (terpenes) and can also be used with both natural and synthetic compounds to enhance their performance and ease-of-use. The technology uses yeast cells that are a by-product of numerous commercial production processes to deliver a slow release of natural compounds for agricultural and non-agricultural uses. Terpenes are already widely used in the food flavouring, cosmetics 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 a unique, environmentally friendly solution to these problems and enables terpenes to be used as effective, low-risk agrochemicals.

 

Eden is developing these technologies through innovative research and a series of commercial production, marketing and distribution partnerships.

 

The Company has a number of patents and a pipeline of products at differing stages of development targeting specific areas of the global agrochemicals industry. To date, the Company has invested in the region of £12m in developing and protecting its intellectual property and seeking regulatory approval for products that rely upon the Company's technologies. Revenues earned by the Company have been modest whilst the Company has concentrated on securing patent protection for its intellectual property, gaining regulatory approvals, identifying suitable industrial partners, and entering into commercial agreements.  

 

In May 2013, the three actives that comprise Eden's first commercial product, 3AEY, were approved as new ingredients for use in plant protection products. This represented a major milestone in the commercialisation of Eden's technology and is a significant accomplishment for any company.  To illustrate this point, one should note that in all of 2013, Eden's approvals represented 3 of only 10 new active ingredients approved by the EC.

 

3AEY has been authorised for sale in Kenya, Malta, Greece, Bulgaria, Spain, Italy, France, Cyprus, Albania and Portugal.

 

Eden was admitted to trading on AIM on 11 May 2012 and trades under the symbol EDEN.

 

For more information about Eden, please visit: www.edenresearch.com.


This information is provided by RNS
The company news service from the London Stock Exchange
 
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