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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 www.edenresearch.com (http://www.edenresearch.com)
Alex Abrey
01285 359 555
Cavendish Capital Markets Limited (Nominated advisor and broker)
Giles Balleny / George Lawson (corporate finance) 020 7220 0500
Charlie Combe (corporate broking)
Michael Johnson (sales)
Hawthorn Advisors (Financial PR)
Victoria Ainsworth eden@hawthornadvisors.com (mailto:eden@hawthornadvisors.com)
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
(http://www.edenresearch.com/) .
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