Business
Issue of Warrants
Issue of Warrants.
About this update from Symphony Environmental Technologies Plc
[{"type":"text","content":"\n Symphony Plastic Technologies PLC\n17 November 2005\n\n\n\n\n 17TH November 2005\n\n\n\n Symphony Plastic Technologies PLC\n\n Issue of Warrants\n\n\n\nSymphony Plastic Technologies ('Symphony'), the degradable plastics company,\nannounces that, as stated in the interim report dated 30 September 2005,\nsignificant measures have been undertaken by the company to reduce costs. These\nmeasures have included a reduction in staff levels, renegotiation of advisers'\nterms and significant salary cuts volunteered by senior members of the Company\nmanagement team. In response to these cuts the Board of Symphony has deemed it\nappropriate to issue warrants to staff and advisers who have elected to reduce\nsalaries or fees.\n\n\n\nA total of 4.83million warrants exercisable at 12 pence per 1 pence ordinary\nshare have been issued and have been apportioned in the following way:\n\n\n\nM Laurier 1,100,000\n\nA Blacher 990,000\n\nI Bristow 990,000\n\nK Frener 450,000\n\nN Deva 200,000\n\n\n\nIn addition, 1,100,000 warrants have been issued to other employees and\nadvisers.\n\n\n\nThe warrants are exercisable for a period of five years.\n\n\n\nFor more information, please contact:\n\n\n\nFor further information:\n\nSymphony Plastic Technologies Plc\nMichael Laurier, CEO\nIan Bristow, FD +44 (0)20 8207 5900\n\n\n\nCitigate Dewe Rogerson\nPatrick Toyne Sewell / Ged Brumby +44 (0)20 7638 9571\n\n\n\n\n\nFurther information on Symphony Plastic Technologies plc\n\n\n\nSymphony develops and supplies environmentally responsible plastic packaging\nproducts and additives which are distributed both in the UK and internationally.\nThe Group's main technology, d2w(R), allows plastic to degrade totally and\nsafely, leaving only water, a minimal amount of carbon dioxide and trace amounts\nof non-toxic biomass. The current d2w(R) product range now includes additives,\ncarrier bags, refuse and waste sacks, mailing wrap, stretch film, aprons, and\npackaging films.\n\n\n\nSymphony has a diverse customer base in the UK and a growing overseas\ndistribution network. Further information on Symphony can be found at\nwww.symphonyplastics.com and product information at www.degradable.net.\n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange \n ","length":2568,"tagName":"div"}]