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Issue of Equity

19th Jan 2009 12:42

RNS Number : 8687L
Symphony Environmental Tech. PLC
19 January 2009
 



19 January 2009

Symphony Environmental Technologies PLC ("the Company")

Issue of Equity

 

Symphony Environmental Technologies, the degradable plastics and waste to energy group, announces that following a request by Headstart Global Fund Limited and Headstart Global Aggressive Fund Limited (together “Headstart”) it has allotted 2,202,384 new ordinary shares of 1p each in the Company ('the Conversion Shares') at a price of 1.90p per share to Headstart in respect of the conversion of £40,000 nominal of convertible redeemable loan notes and £1,845.31 accrued interest, pursuant to the convertible loan facility agreement referred to in the announcement made by the Company on 15 December 2006.
 
Application has been made for the Conversion Shares, which will rank pari passu with the Company’s existing ordinary shares in issue, to be admitted to trading on AIM. It is expected that admission will be effective and that dealings in the Conversion Shares will commence on 26 January 2009.

For further information:

Symphony Environmental Technologies Plc

Ian Bristow, Finance Director

Tel: 020 8207 5900

HB Corporate

Rod Venables/James Reeve:

Tel: 020 7510 8600

Threadneedle Communications

Graham Herring/Alex White

Tel: 020 7653 9850

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

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