Last checked at 16 Oct 2019 12:48
16 October 2019
Eden Research plc
("Eden" or "Company)
Director/PDMR Shareholding
Eden Research plc (AIM: EDEN), the AIM listed company that develops and supplies breakthrough biopesticide products and natural, plastic-free microencapsulation technologies to the global crop protection, animal health and consumer products industries, announces that Sean Smith, CEO, has today purchased 114,313 ordinary shares of 1 pence each in the capital of the Company ("Ordinary Shares") at a price of 8.3 pence.
Following this purchase, Mr Smith holds 547,706 Ordinary Shares representing approximately 0.26 per cent. of the Company's issued share capital.
The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provide further details of the PDMR dealings set out above.
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name
| Mr Sean Smith | ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| Chief Executive Officer | ||||
b)
| Initial notification /Amendment
| Initial notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a)
| Name
| Eden Research plc
| ||||
b)
| LEI
| 213800ZWTYTVQQSM3J85 | ||||
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
| |||||
a)
| Description of the financial instrument, type of instrument
Identification code
| Ordinary shares of 1 pence each in the Company ("Ordinary Shares")
GB0001646941
| ||||
b)
| Nature of the transaction
| Purchase of Ordinary Shares
| ||||
c)
|
Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
|
N/A (single transaction)
| ||||
e)
| Date of the transaction
| 16/10/2019 | ||||
f)
| Place of the transaction
| LSE, AIM Market (XLON)
| ||||
For further information contact:
Eden Research plc | www.edenresearch.com |
Sean Smith Alex Abrey | 01285 359 555 |
|
|
Cenkos Securities (Nominated advisor and broker) |
|
Giles Balleny / Cameron MacRitchie (corporate finance)Michael Johnson (sales) | 020 7397 8900 |
|
|
Powerscourt (Financial PR) |
|
Nick Dibden
| 020 7250 1446 eden@powerscourt-group.com |
Notes:
Eden Research is a technology development and commercialisation company with intellectual property and expertise in encapsulation, terpenes and environmentally friendly technologies to provide naturally occurring solutions for the global agrochemicals, animal health, and consumer product industries.
Eden's encapsulation technology harnesses the biocidal efficacy of naturally occurring chemicals produced by plants (terpenes) and can also be used with both natural and synthetic compounds to enhance their performance and ease-of-use. The technology uses yeast cells that are a by-product of numerous commercial production processes to deliver a slow release of natural compounds for agricultural and non-agricultural uses. Terpenes are already widely used in the food flavouring, cosmetics and pharmaceutical industries.
Historically, terpenes have had limited commercial use in the agrochemical sector due to their volatility, phytotoxicity and poor solubility. Eden's platform encapsulation technology provides a unique, environmentally friendly solution to these problems and enables terpenes to be used as effective, low-risk agrochemicals.
Eden is developing these technologies through innovative research and a series of commercial production, marketing and distribution partnerships.
The Company has a number of patents and a pipeline of products at differing stages of development targeting specific areas of the global agrochemicals industry. To date, the Company has invested in the region of £14m in developing and protecting its intellectual property and seeking regulatory approval for products that rely upon the Company's technologies. Revenues earned by the Company have been modest whilst the Company has concentrated on securing patent protection for its intellectual property, gaining regulatory approvals, identifying suitable industrial partners, and entering into commercial agreements.
In May 2013, the three actives that comprise Eden's first commercial product, Mevalone, were approved as new ingredients for use in plant protection products. This represented a major milestone in the commercialisation of Eden's technology and is a significant accomplishment for any company. To illustrate this point, one should note that in all of 2013, Eden's approvals represented 3 of only 10 new active ingredients approved by the EC.
Mevalone is a foliar fungicide which has been authorised for sale in Kenya, Malta, Greece, Bulgaria,
Spain, Italy, France, Cyprus, Albania, Portugal and Macedonia.
Cedroz is a nematicide and has been authorised for sale in Malta and Belgium.
Eden was admitted to trading on AIM on 11 May 2012 and trades under the symbol EDEN.
For more information about Eden, please visit: www.edenresearch.com.
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