News Archive
AGM Statement
Eden Research plc (OFEX: EDE), a leading UK agrochemical company, is holding its AGM today at 12 noon. At this Craig Herron, Non-Executive Chairman will make the following statement:
“The Company is progressing well in developing its terpene-based technology for use in agriculture. We are focussing our efforts on developing one specific system, encapsulated terpenes, which provides us with the clearest and most rapid route to market. At the end of last year we initiated a pilot plant capable of producing commercially viable quantities of product and continue to work on this to develop a commercial product offering.
“Fieldwork is currently taking place in Greece, Australia, New Zealand, Spain, Portugal, the USA and UK and Eden is satisfied with progress. We continue to be in discussion with the Greek regulatory authorities and have commenced discussions with the Portuguese and UK regulators. We are in the process of compiling a simplified regulatory dossier, to be submitted in 2006, to enable us to obtain rapid approval for the commercial use of our first encapsulated foliar treatment on grapes.
“We are currently in discussions with over 20 companies to set up cooperative joint venture/partnership agreements and have now signed heads of agreement with a major distributor covering nine countries in southern and eastern Europe as the first of several European distribution deals.
“We announced in our Interim Results that we have identified that a sale of our health care Intellectual Property will be of benefit in both allowing us to focus on the core area of developing our agro-chemical product offering, while also provide additional cash resource to develop this focus. We intend to do this through consolidating our projects in this area into a subsidiary company with new management focussed on commercialising and creating value; and are progressing well with this.
“We believe that by focussing on the agro-chemicals products, we will deliver revenue and value to our shareholders. We thank you for your continued support.”
For further information:
| Tim Griffiths | Eden Research plc | Tel: 01993 868844 |
| Jonathon Brill | Financial Dynamics | Tel: 020 7831 3113 |
The Directors of Eden Research accept responsibility for this announcement