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Market: AIM
Sector: Pharmaceuticals & Biotechnology
EPIC: PIM
Latest Price: 13.50p  (-1.82% Descending)
52-week High: 35.25p
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Market Cap: 6.81M
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Plant Impact
www.plantimpact.com

Plant Impact's range of crop nutrition products focus on crop enhancement. They improve crop performance and crop health giving growers increased marketable yields, better quality and longer shelf life with reduced environmental impact.

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Plant Impact chairman pays £57,500 for 250,000 shares

16th Aug 2011, 9:06 am by Jon Mainwaring Plant Impact develops and sells products designed to improve the health of crops

David Jones, the chairman of crop nutrition firm Plant Impact (LON:PIM), has bought 250,000 shares in the company for £57,500. 

Shares in Plant Impact responded to the news of the purchase, announced this morning, by putting on 11.6 per cent to reach 24 pence each in early trading.

Plant Impact’s PiNT product uses a nitrogen-based technology that is eco-friendly and improves plant growth. InCa, the firm’s biggest selling product last year, is a calcium delivery system that enables plants to absorb and retain calcium in tissues where it is most needed.

At the time Plant Impact’s final results for its 2011 financial year were announced in July, Jones said that he had been satisfied that the commercial progress the firm had made with InCa and PiNT was “confirmation that our direct selling and partnering strategy is working and will provide the platform for growth”.

During its 2011 financial year, Plant Impact increased its turnover to £1.8 million from £1.4 million in 2010, although increased R&D spending and a delay in its BugOil product getting regulatory clearance meant that pre-tax losses widened to £1.9 million from £1.7 million.

A week ago the firm announced it had appointed a new chief executive officer. John Brubaker, who becomes CEO on 1 September, was previously the global head of business development for Tokyo-based Arysta LifeScience Corporation – a 9.1 per cent shareholder in Plant Impact and a commercial partner of the firm.


 

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