Preliminary results

30 March 2015

Eden Research plc (AIM: EDEN), the AIM listed natural micro-encapsulation company, announces its unaudited preliminary results for the year ended 31 December 2014. The Company continues to meet key milestones as part of its evolution from a research and development company to a commercial business.

Financial highlights

• Revenue of £0.1m (2013: £0.08m)
• Operating loss of £1.75m (2013: £1.58m)
• Loss before tax of £3.00m (2013: £1.63m)
• Loss per share of 2.36p (2013: 1.30p loss)
• Debt free and cash in bank of £0.41m (2013: £0.31m)

Operational highlights

• 3AEY approval for southern EU zone progressing well with Malta expected to give approval soon
• Final approval from other southern will allow 3AEY sales to commence
• Licensing agreements for 3AEY from Sumi-Agro (France) and Sipcam (Italy & Spain)
• First products using Eden's GO-E™ micro-encapsulating technology launched in France
• Agreement with Eastman to license Eden's nematicide product is expected shortly
• Agreement with Bayer Animal Health for US pet care products will see these launched this year
• Data sharing agreement with Daymsa to monetise the value of data generated in registering 3AEY
• Other opportunities in insecticidal and fungicidal applications as well as human health applications

Board changes

• Sean Smith appointed as CEO and Tom Lupton appointed as Non-Executive Chairman
• Sir Ben Gill and Clive Newitt sadly passed away during the year

Commenting on outlook, Tom Lupton, Chairman said: "2014 was another eventful year at Eden and we have made good progress in our ambitions to gain product approval for the sale of our terpene based fungicide 3AEY, and the commercial sale of a wide range of products using our technology and active ingredients. It is expected that the approval of 3AEY will be granted imminently in Malta, which gives the other southern EU zone member states 120 days to add their approvals. The proximity of this key milestone, as well as the other advances we've made with our licensees during the year gives us the confidence to believe that 2015 will be a very successful year for your Company."

Copies of the full audited financial statements are available at www.edenresearch.com.

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