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Symphony Environment - Exercise of warrants

RNS Number : 9385Y
Symphony Environmental Tech. PLC
15 September 2020
 

 

 

 

The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this information is considered to be in the public domain

 

15 September 2020

SYMPHONY ENVIRONMENTAL TECHNOLOGIES PLC

Exercise of warrants

 

Symphony Environmental Technologies Plc ("Symphony" or "Company") announces that the Company has received notice to exercise warrants representing 5,000,000 new ordinary shares of 1p each in the Company ("Ordinary Shares") by Vincel Investment Holdings Limited ("Vincel"). The warrants were granted on 19 July 2020.

 

The new Ordinary Shares (which will rank pari passu with the Company's existing Ordinary Shares in issue) will be issued and allotted ("Allotment") on or around 21 September 2020. Upon Allotment, Symphony will receive £1,000,000 cash proceeds.  Application will then be made for the new Ordinary Shares to be admitted to trading on AIM ("Admission") which is expected to take place at 8.00 a.m. on 24 September 2020.

   

Following Allotment, the enlarged issued share capital of the Company will be 176,751,277 Ordinary Shares. The above figure may be used by shareholders 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 share capital of the Company under the Disclosure and Transparency Rules.

 

Following Allotment, Vincel will be interested in 20,456,900 Ordinary Shares representing approximately 11.6% of the enlarged issued share capital of the Company. Vincel is owned by Mrs Shruti Lohia, daughter of Mr S P Lohia, who is the Chairman of Indorama Corporation, Singapore.

 

Michael Laurier CEO said: "I am very pleased to see Vincel exercise these warrants as further demonstration of their confidence in Symphony and the value that our technologies can have towards helping to improve health and the environment everywhere."

 

 Enquiries

Symphony Environmental Technologies Plc

 

Michael Laurier, CEO

Tel: +44 (0) 20 8207 5900

Ian Bristow, CFO

 

www.symphonyenvironmental.com

 

 

 

Zeus Capital Limited (Nominated Adviser and Joint Broker)

 

David Foreman / Nick Cowles / Kieran Russell (Corporate Finance)

Tel: +44 (0) 161 831 1512

Dominic King / Victoria Ayton (Sales)

Tel: +44 (0) 203 829 5000

 

 

Hybridan LLP (Joint Broker)

Claire Louise Noyce

 

 

Tel: +44 (0) 203 764 2341

The person responsible for arranging the release of this information is Michael Laurier, CEO of the Company.

 

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Quick facts: Symphony Environmental Technologies PLC

Price: 25

Market: AIM
Market Cap: £44.19 m
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