Symphony Env. Regulatory News (SYM)

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 (WHICH FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR").

28 March 2024

SYMPHONY ENVIRONMENTAL TECHNOLOGIES PLC

("Symphony" or the "Company")

Result of PrimaryBid Offer

Symphony Environmental Technologies plc (AIM: SYM), is pleased to announce the completion of the PrimaryBid Offer that was launched on 22 March 2024.

Following the successful completion of the Subscription, as announced by the Company on 22 March 2024 (the "Result of Subscription Announcement"), retail investors have subscribed via the PrimaryBid platform for a total of 1,220,887 new Ordinary Shares at an issue price of 3.5 pence per Ordinary Share, ("PrimaryBid Shares") raising gross proceeds of approximately £42,731.

The PrimaryBid Shares, like the Conditional Subscription Shares are conditional, inter alia, on the passing of Resolutions by Shareholders at the GM. If the Resolutions are passed, the 19,535,700 Conditional Subscription Shares and 1,220,887 PrimaryBid Shares are expected to be admitted to trading on AIM on 22 April 2024. Should the Resolutions not be passed, neither the Conditional Subscription Shares nor the PrimaryBid Shares will be issued.

The Subscription Shares and PrimaryBid Shares will represent, on completion, 17.4 per cent. and 0.5 per cent. respectively of the Company's Enlarged Share Capital following Admission (assuming the Conditional Subscription and the issue of the PrimaryBid Shares is approved by Shareholders).

Michael Laurier, CEO of Symphony Environmental Technologies plc, said:

"On behalf of the Board, I would like to thank those who invested for their support in Symphony. Due to the successful £1.4 million equity subscription, the matched issue price, being a 67% premium on the prevailing market price when we launched the PrimaryBid Offer, was always going to limit interest in the offer, and the amount raised. The Board believes it was nevertheless the right thing to do and hope that it has attracted new interest in Symphony going forward.

We look forward to announcing further positive developments in the business now that we have completed this capital investment initiative."

Admission, Settlement and Total Voting Rights

The current issued share capital of the Company is 204,342,533 Ordinary Shares with one voting right each. The Company does not hold any shares in Treasury.

An application will be made to the London Stock Exchange for the 19,535,700 Conditional Subscription Shares and 1,220,887 PrimaryBid Shares to be admitted to trading on AIM. It is expected that Admission will become effective and dealings in the Conditional Subscription Shares and PrimaryBid Shares to be issued pursuant to the Fundraise will commence on or around 22 April 2024, subject to the passing of the Resolutions at the GM to be held on 19 April 2024 ("Admission").

Following Admission, there will be a total of 225,099,120 Ordinary Shares in issue, none of which are held in Treasury. Shareholders should use the figure of 225,099,120 as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company, under the FCA's Disclosure and Transparency Rules.

The new Ordinary Shares to be issued pursuant to the PrimaryBid Offer will be issued free of all liens, charges and encumbrances and will, on Admission, rank pari passu in all respects with the new Ordinary Shares to be issued pursuant to the Subscription and the Company's existing Ordinary Shares.

Capitalised terms not otherwise defined herein shall have the meanings given to them in the announcement made by Symphony in respect of the Result of Subscription, Launch of PrimaryBid Offer, Posting of Circular to Shareholders and Notice of General Meeting on 22 March 2024, unless the context requires otherwise.

Enquiries

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