Eden Research plc Appointment of Non-Executive Director

RNS Number : 2718N

Eden Research plc

07 May 2024

 

7 May 2024

 

 

Eden Research Plc

("Eden" or "Company")

 

Appointment of Non-Executive Director

 

Eden Research plc (AIM: EDEN), the AIM-quoted company focused on sustainable biopesticides and a plastic-free formulation technology for use in the global crop protection, animal health and consumer products industries, is pleased to announce the appointment of Derek McAllan as a Non-Executive Director of the Company with immediate effect.

 

Derek is currently a Partner of RSM UK, a leading provider of audit, tax and consulting services in the UK, where he is responsible for business development and client service across a portfolio of companies. Prior to his move to RSM UK in 2020, Derek acted as a Partner at KPMG for seventeen years during which he had a significant number of life science clients including some with which he worked from their inception to ultimate exit (including listings on NASDAQ and AIM, and also trade sales). Derek's portfolio of audit clients also included a number of AIM-listed companies.

 

Derek will act as Chairman of the Audit Committee following the Company's 2024 Annual General Meeting (the "AGM"). The current Chairman of the Audit Committee, Robin Cridland, will remain a Non-Executive Director following the AGM to ensure an orderly handover to Derek.

 

Sean Smith, Chief Executive Officer of Eden Research plc, commented:

 

"We are pleased to welcome Derek to the Board as a part of our succession plan.  After Robin Cridland's nine years of contributions as Audit Committee Chairman, we would like to thank him for his hard work, dedication and focus.  Robin will remain a Non-Executive Director of the Company to facilitate the transition to the new Audit Committee Chairman and to provide continuity and consistency, and we look forward to his ongoing efforts.

 

"Derek joins us at an exciting time, and we welcome his skills and experience developed whilst working as an audit partner for leading firms for over twenty years.  During this time Derek has helped countless clients navigate many of the challenges facing companies such as Eden, and we look forward to his contributions to Eden in the coming years."

 

 

Derek Ian McAllan (aged 58) has held the following directorships or partnerships in the past five years:

Current	Previous
RSM UK Tax and Advisory Services LLP	KPMG LLP

 

Save for the information set out above, there are no further disclosures to be made in accordance with Rule 17, Schedule Two (g) of the AIM Rules in respect of the appointment of Derek McAllan. Derek does not hold an interest in the Company's share capital.

For further information contact:

 

Eden Research plc
Sean Smith Alex Abrey	www.edenresearch.com 01285 359 555
Cavendish Capital Markets Limited (Nominated advisor and broker)
Giles Balleny / George Lawson (corporate finance) Charlie Combe (corporate broking) Michael Johnson (sales)	020 7220 0500
Hawthorn Advisors (Financial PR)
Victoria Ainsworth	[e-mail]

 

 

Notes to Editors:

 

Eden Research is the only UK-listed company focused on biopesticides for sustainable agriculture. It develops and supplies innovative biopesticide products and natural microencapsulation technologies to the global crop protection, animal health and consumer products industries.

 

Eden's products are formulated with terpene active ingredients, based on natural plant defence metabolites. To date, they have been primarily used on high-value fruits and vegetables, improving crop yields and marketability, with equal or better performance when compared with conventional pesticides. Eden has three products currently on the market:

 

Based on plant-derived active ingredients, Mevalone® is a foliar biofungicide which initially targets a key disease affecting grapes and other high-value fruit and vegetable crops.  It is a useful tool in crop defence programmes and is aligned with the requirements of integrated pest management programmes. It is approved for sale in a number of key countries whilst Eden and its partners pursue regulatory clearance in new territories thereby growing Eden's addressable market globally.

 

Cedroz™ is a bionematicide that targets free living nematodes which are parasitic worms that affect a wide range of high-value fruit and vegetable crops globally.  Cedroz is registered for sale on two continents and Eden's commercial collaborator, Eastman Chemical, is pursuing registration and commercialisation of this important new product in numerous countries globally.

 

Eden's seed treatment product, Ecovelex was developed to safely tackle crop destruction caused by birds - a major cause of losses in maize and other crops. Ecovelex works by creating an unpleasant taste or odour that repels birds, leaving the seeds safely intact and the birds unaffected and free to find alternative food sources. The product is based on Eden's plant-derived chemistry, registered in the EU, U.S. and elsewhere, and formulated using Eden's Sustaine® microencapsulation system.

 

Eden's Sustaine^® encapsulation technology is used to harness 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. Sustaine microcapsules are naturally-derived, plastic-free, biodegradable micro-spheres derived from yeast. It is one of the only viable, proven and immediately registerable solutions to the microplastics problem in formulations requiring encapsulation.

 

Eden was admitted to trading on AIM on 11 May 2012 and trades under the symbol EDEN. It was awarded the London Stock Exchange Green Economy Mark in January 2021, which recognises London-listed companies that derive over 50% of their total annual revenue from products and services that contribute to the global green economy. Eden derives 100% of its total annual revenues from sustainable products and services.

For more information about Eden, please visit:  www.edenresearch.com.

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