Eden Research plc Board Changes (1711S)

TIDMEDEN

RNS Number : 1711S

Eden Research plc

29 September 2017

29 September 2017

Eden Research plc

("Eden" or "Company")

Board Changes

Eden Research plc (AIM: EDEN), the AIM listed company that provides breakthrough natural microencapsulation technologies to the global agrochemicals, animal health and consumer products industries, announces that it has appointed Lykele van der Broek as Non-Executive Director and Chairman-designate with effect from the 1 October 2017.

Eden's current Chairman, Tom Lupton, is to retire from his role as Non-Executive Director and Chairman on the 31 December 2017. Tom has been Chairman of the Company since 2014. Lykele will succeed Tom as Chairman from the 1 January 2018.

Lykele has over 30 years of experience in the agriculture sector. He was previously Chief Operating Officer and a member of the Board of Management at Bayer Crop Science, Head of Bayer Animal Health, and is currently a Non-Executive Director for FTSE 250 constituent, Genus plc.

Tom Lupton, Chairman, commented: "I have greatly enjoyed my time with Eden Research. The Company is now in a much stronger position, as is evident in the recent Interim results announcement, and Eden's commercial progress continues to build. I am delighted Lykele van der Broek has agreed to join the Board. He has deep experience of our sector, and I look forward to watching Eden Research grow under his Chairmanship. I wish Sean Smith and the management team every success for the future."

Sean Smith, Chief Executive Officer, said: "I would like to thank Tom for his significant contribution to Eden Research over the last five years and specifically as our Chairman over the last three and a half years. Tom has overseen significant regulatory and commercial progress at Eden during his time at the Company and we wish him the very best for the future.

I am pleased to welcome Lykele to the Board as Non-Executive Director and Chairman-designate. Lykele has a wealth of experience in the agriculture and animal health sectors and will be an asset to the Board and the Company. We look forward to working with him over the coming years."

Lykele van der Broek, Chairman designate, commented: "I have watched the commercial progress that Eden has made in recent years and am delighted to be joining the Company and to taking over from Tom in 2018. This is a very exciting period for Eden and I look forward to helping develop the business further."

Save as set out in the additional information section below there are no further disclosures required to be made in respect of the appointments under Schedule 2(g) of the AIM Rules for Companies.

For further information contact:

 
 Eden Research plc           www.edenresearch.com 
 Sean Smith 
  Alex Abrey                 01285 359 555 
 
 Shore Capital (Nomad)       020 7408 4090 
 Stephane Auton / Patrick 
  Castle 
 
 Powerscourt                 020 7250 1446 
 Samantha Trillwood 
 
 
   Additional information 
    Full name                            Lykele Jurrit van der Broek 
   -----------------------------------  ---------------------------- 
    Age:                                 63 years old 
   -----------------------------------  ---------------------------- 
    Current directorships:               Genus plc 
                                          Peertje voor de Dorst B.V. 
   -----------------------------------  ---------------------------- 
    Directorships held in last 5 years   Bayer CropScience AG 
   -----------------------------------  ---------------------------- 
 
 
 

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 GBP12m 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, 3AEY, 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.

3AEY has been authorised for sale in Kenya, Malta, Greece, Bulgaria, Spain, Italy, France, Cyprus, Albania and Portugal.

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

This information is provided by RNS

The company news service from the London Stock Exchange

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September 29, 2017 02:03 ET (06:03 GMT)