11th Jun 2025 10:15
11 June 2025
SYMPHONY ENVIRONMENTAL TECHNOLOGIES PLC
("Symphony", the "Group" or the "Company")
Change of Subscription Amount
Symphony Environmental Technologies Plc (AIM: SYM), the global specialist that makes plastic and rubber products "smarter, safer and sustainable" announces that the terms of the subscription announced on 5 June 2025 in relation to Tranche B* being 11,500,000 new ordinary shares of nominal value 1 pence each in the Company ("Ordinary Shares") by Quantum Leap 1.1.1 Fund LP ("Q111Fund"), have by mutual agreement been amended.
The subscription for 11,250,000 new Ordinary Shares at 20 pence per share raising £2.25 million has been reduced to 10,014,875 new Ordinary Shares at 20 pence each ("Revised New Ordinary Shares") raising £2.00 million ("Revised Amount"). The Revised Amount has been received, and the Revised New Ordinary Shares are expected to be admitted to trading on AIM on or around 12 June 2025 ("Admission"). Following Admission, Q111Fund will hold 4.24 per cent. of the enlarged issued share capital of the Company.
All other material terms remain unchanged.
Including the completed Tranche A* subscription as announced on 5 June 2025, a total of £2.25 million equity has therefore been raised at a share price of 20p per Ordinary Share.
*defined terms herein have the same meaning as those set out in the announcement dated 5 June 2025 unless otherwise defined in this announcement
Total Voting Rights
The Company does not hold any shares in Treasury. Following Admission, the total issued share capital and total voting rights of the Company will be 236,363,995 Ordinary Shares.
The above figures may be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure and Transparency Rules up until Second Admission.
Enquiries:
Symphony Environmental Technologies Plc Michael Laurier, CEO Ian Bristow, CFO www.symphonyenvironmental.com | Tel: +44 (0) 208 207 5900 |
Zeus Capital Limited (Nominated Adviser and Broker) David Foreman, Alexandra Campbell-Harris (Investment Banking) | Tel: +44 (0) 203 829 5000 |
NOTES TO EDITORS:
About Symphony Environmental Technologies plc
https://www.symphonyenvironmental.com
Symphony has a diverse and growing customer-base and has established itself as an international business with over 70 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 founder-member of The BPA (www.biodeg.org) and 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 Group can be found at https://www.symphonyenvironmental.com and X @SymphonyEnv. See also Symphony on Instagram.
D2W TECHNOLOGY
Symphony has developed over 25 years a biodegradable plastic technology which addresses the problem of persistent microplastics, by turning ordinary plastic at the end of its service-life into a waxy substance which is biodegradable. It is then no longer a plastic and can be bioassimilated in the open environment in a similar way to a leaf without leaving microplastics behind. 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, much of which has been recycled. In some countries, this type of plastic is mandatory for short-life plastic products.
D2P TECHNOLOGY
Symphony has also developed practical and cost-effective ways to upgrade plastic products to provide protection against bacteria, viruses, fungi, insects, odours and fire. See www.d2p.net.
NbR TECHNOLOGY
NbR is made with natural minerals to reduce the amount of fossil-derived polyethylene or polypropylene used for making plastic products. The products can be recycled, but will biodegrade safely without leaving microplastics if they escape recycling and end up as litter in the open environment.
When NbR is used instead of normal polythene or polypropylene, it will reduce the amount of fossil-derived plastic in the product by 20%, as well as cutting CO2 emissions.
Related Shares:
Symphony Env.