17th Nov 2005 13:52
Symphony Plastic Technologies PLC17 November 2005 17TH November 2005 Symphony Plastic Technologies PLC Issue of Warrants Symphony Plastic Technologies ("Symphony"), the degradable plastics company,announces that, as stated in the interim report dated 30 September 2005,significant measures have been undertaken by the company to reduce costs. Thesemeasures have included a reduction in staff levels, renegotiation of advisers'terms and significant salary cuts volunteered by senior members of the Companymanagement team. In response to these cuts the Board of Symphony has deemed itappropriate to issue warrants to staff and advisers who have elected to reducesalaries or fees. A total of 4.83million warrants exercisable at 12 pence per 1 pence ordinaryshare have been issued and have been apportioned in the following way: M Laurier 1,100,000 A Blacher 990,000 I Bristow 990,000 K Frener 450,000 N Deva 200,000 In addition, 1,100,000 warrants have been issued to other employees andadvisers. The warrants are exercisable for a period of five years. For more information, please contact: For further information: Symphony Plastic Technologies PlcMichael Laurier, CEOIan Bristow, FD +44 (0)20 8207 5900 Citigate Dewe RogersonPatrick Toyne Sewell / Ged Brumby +44 (0)20 7638 9571 Further information on Symphony Plastic Technologies plc Symphony develops and supplies environmentally responsible plastic packagingproducts and additives which are distributed both in the UK and internationally.The Group's main technology, d2w(R), allows plastic to degrade totally andsafely, leaving only water, a minimal amount of carbon dioxide and trace amountsof non-toxic biomass. The current d2w(R) product range now includes additives,carrier bags, refuse and waste sacks, mailing wrap, stretch film, aprons, andpackaging films. Symphony has a diverse customer base in the UK and a growing overseasdistribution network. Further information on Symphony can be found atwww.symphonyplastics.com and product information at www.degradable.net. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Symphony Env.