News Archive
PROPOSED ACQUISITION
Eden Research plc (Eden) (ofex code:EDE) the agrochemical and pharmaceutical company is pleased to announce that it has signed Heads of Agreement to acquire (subject to satisfactory completion of Eden’s due diligence) a third party whose business has a high degree of synergy with Eden’s terpene technology. When completed it will allow Eden to concentrate on its natural products portfolio and will enlarge its coverage of this area allowing it to produce, extract and deliver terpenes as a way of treating agricultural problems such as powdery and downy mildew.
The proposed acquisition does not constitute a reverse takeover as defined in the Ofex Rules
Alongside this, there would also be a management agreement with the holding company giving Eden access to that company’s broad portfolio of environmentally friendly technologies and products around the world. A further announcement will be made in due course.
Eden will take the opportunity of this agreement to dispose of its current portfolio of pharmaceutical and medical patents to enable the Company to fully reposition itself as a ‘natural products;’ group. This will enable the Company to concentrate on products that can more easily, cheaply and with less legislative barriers be brought to commercialisation. A further announcement in this regard will be made in due course,
The Company expects to announce its final results for the year to 31st December 2004 no later than 31st May 2005
The Directors of Eden Research plc accept responsibility for this announcement
For further information, please contact:
| Eden Research plc | ||
| Tim Griffiths, Chief Executive | Tel: 01993 868844 |
|
| Financial Dynamics | ||
| Jonathon Brill /Caroline Stewart | Tel: 020 7831 3113 |
Notes to Editors:
About Eden Research Plc
Eden specialises in the development of natural, organic solutions to agricultural and medical problems and has a range of ‘green’ agrochemicals and environmentally friendly products. In particular, Eden’s research and development programme is currently focussed on three technology areas – terpene chemistry, silver-based antimicrobials and plant extracts.