REG - Symphony Environment - Extension to Convertible Loan Agreements

Symphony Environmental TechnologiesAnnouncement

26/11/2025 10:30

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RNS Number : 1003J  Symphony Environmental Tech. PLC  26 November 2025

 

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announcement, this information is considered to be in the public domain

 

 26 November 2025

SYMPHONY ENVIRONMENTAL TECHNOLOGIES PLC

 

("Symphony" or the "Company")

 

Extension to Convertible Loan Agreements

 

Symphony Environmental Technologies Plc (AIM: SYM), global specialists in
technologies that make plastic products "smarter, safer and sustainable", is
pleased to announce extensions to the existing £1.5m convertible loan
agreements entered into with SESR Investments Pte Ltd ("SESR") (together, the
"CLAs") from 31 December 2025 to 30 June 2026. The CLAs were previously
extended to 31 December 2025 on 14 March 2024.

 

The other key terms of the CLAs, which were originally announced on 13 March
2023 and 18 October 2023 respectively are unchanged.

 

The key terms of the updated CLAs are repeated below for completeness:

 

·      CLAs total drawn principal: £1.5 million (unsecured)

·      If not repaid on or before 30 June 2026, conversion on that date

·      Conversion price: 80% of the volume-weighted average share price
for the 3 months prior to 30 June 2026

·      Interest: 7% per annum, payable as accrued on repayment and/or
conversion

·      Repayment of the CLAs, in full or in part solely at Symphony's
discretion

 

SESR is interested in 19.68% of Symphony's issued share capital. As SESR is a
substantial shareholder, extension of the CLAs is deemed to be a related party
transaction pursuant to Rule 13 of the AIM Rules for Companies. Accordingly,
the board of directors of the Company consider, having consulted with the
Company's nominated adviser, that the extension of the CLAs is fair and
reasonable insofar as the Company's shareholders are concerned.

 

Michael Laurier, CEO, commented: "We are grateful for the continued support of
SESR. As highlighted in our previous announcements, we have a number of
long-term major developments that we believe are approaching maturity. In
light of these anticipated milestones, the Board wants to avoid issuing new
securities at current market values, which do not reflect the potential impact
of these developments. The extension of the CLNs provides the Company with the
flexibility to progress these initiatives to completion whilst preserving
shareholder value."

 

 

Enquiries:

 Symphony Environmental Technologies Plc
 Michael Laurier, CEO                                                  Tel: +44 (0) 20 8207 5900
 Ian Bristow, CFO
 www.symphonyenvironmental.com (http://www.symphonyenvironmental.com)

 Zeus (Nominated Adviser and Broker)
 David Foreman, Emma Burn (Investment Banking)                         Tel: +44 (0) 203 829 5000
 Dominic King (Broking)

The person responsible for arranging the release of this information is
Michael Laurier, CEO of the Company.

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