News Archive
Conversion of Debt and Issue of New Equity
Eden Research, a UK leading agrochemical and development company, is pleased to announce the completion of a placing of 560,747 ordinary shares at 53.5p per share to raise GBP300,000. This will provide additional working capital.
The Company has additionally issued 1,540,000 ordinary shares of 1p each pursuant to the exercise of options and warrants. The net proceeds to the Company from this exercise of options are GBP410,100.
Furthermore the Company has converted GBP904,745 of long term lenders debt into shares at a price of GBP 0.60 per share.
Tim Griffiths, CEO of Eden Research plc said:
“This exercise of options and warrants follows the increasing commercial success of the Company, and our position has been further validated by the debt conversion we have announced. Our balance sheet is stronger and we look forward to delivering further commercial progress.”
Following this, Eden Research has 51,325,568 ordinary shares in issue.
For further information:
| Tim Griffiths, Chief Executive | Eden Research plc | Tel: 01993 868844 |
| Clive Carver/Matthew Robinson | JMFinn Capital Markets Ltd | Tel: 020 7600 1658 |
| Jonathon Brill/Caroline Stewart | Financial Dynamics | Tel: 020 7831 3113 |
About Eden Research plc
Eden Research plc is a UK publicly listed company on the PLUS Market, specialising in the development of agrochemical products and intellectual property through licensing and marketing agreements.
Eden is focused on developing products for the agricultural sector through the application of terpene chemistry and other patented environmentally friendly technologies. Eden is currently working alongside universities and partner companies in developing its product portfolio towards commercialisation.
For further information please visit www.edenresearch.com.