Symphony Environmental Tech. PLC Result of AGM (8692A)

TIDMSYM

RNS Number : 8692A

Symphony Environmental Tech. PLC

10 June 2016

 
   10 June 2016 
 

Symphony Environmental Technologies Plc

("Symphony" or the "Company")

Result of AGM

Symphony Environmental Technologies plc (AIM: SYM) announces that all resolutions put to shareholders at the Company's Annual General Meeting ("AGM") held today, were duly passed.

At the AGM, Nirj Deva, Chairman of Symphony, made the following statement:

"I am pleased to report that trading within this first half is in line with expectations.

Positive legislative momentum in favour of d2w type products continues, and this can be seen in a number of different places, where new regulations and standards have been enacted.

d2w revenues are stable with a number of opportunities. It is encouraging to see the adoption of d2w by a major airline, Pakistan International Airways, and in addition to this, a number of other large corporations have begun moving to use our technology.

The d2p "Designed to Project" range of technologies continue to develop with new orders and offers of commitment of which further details will be reported to the market in due course. While these opportunities are currently not financially significant there is scope for growth and further development in the future.

New d2p additive formulations and product trials are showing merit and we are encouraged by the results so far. Some of these require regulatory clearance before moving into commercial sales, and others are subject to performance trials.

The business is now operating on a lower, but more efficient cost base, and continues to operate comfortably within its working capital facilities."

For further information, contact:

 
 Symphony Environmental Technologies 
  Plc 
 Michael Laurier, CEO                  Tel: +44 (0) 
                                        20 8207 5900 
 Ian Bristow, FD 
 
 Cantor Fitzgerald Europe 
 David Foreman / Michael Reynolds      Tel: +44 (0) 
  (Corporate Finance)                   20 7894 7000 
 David Banks (Sales) 
 
 

NOTES TO EDITORS:

About Symphony Environmental Technologies plc

Symphony has developed a range of additives, concentrates and master-batches marketed as d2p, which can be incorporated in a wide variety of plastic and non-plastic products and applications so as to give them protection against many different types of bacteria, fungi, algae, mould and insects.

In addition, Symphony has developed controlled-life plastic technology which turns ordinary plastic at the end of its service-life into biodegradable materials. It is then no longer a plastic and can be bioassimilated in the open environment in the same way as a leaf. The technology is branded d2w(R) and appears as a droplet logo on many thousands of tonnes of plastic packaging and other plastic products around the world. In some countries oxo-biodegradable plastic is mandatory. For a video of d2w(R) plastic degrading see http://degradable.net/play-videos/4.

Symphony has developed the d2Detector(R), a portable device which analyses plastics and detects counterfeit products. Symphony's d2t tagging and tracer technology is also available for further security. See www.d2t.net

Symphony has a diverse and growing customer-base and has established itself as an international business with 74 distributors around the world. Products made with Symphony's plastic technologies are now available in 97countries and in many different product applications. Symphony is certified to ISO9001 and ISO14001.

Symphony is a member of The Oxo-biodegradable Plastics Association (www.biodeg.org) (OPA), the Society for the Chemical Industry (UK), and the Pacific Basin Environmental Council. Symphony actively participates in the Committee work of the British Standards Institute (BSI), ASTM International (ASTM), the European Standards Organisation (CEN), and the International Standards Organisation (ISO).

Further information on the Symphony Group can be found at www.symphonyenvironmental.com.

This information is provided by RNS

The company news service from the London Stock Exchange

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June 10, 2016 06:00 ET (10:00 GMT)