Eden Research plc
LSE : EDE

November 10, 2009 02:00 ET

Issue of Equity, Board Changes and Appointment of Corporate Adviser

                                                                                      10 November 2009
                                                                                          GB0001646941
                                           EDEN RESEARCH PLC
                                         ("Eden" or "Company")

                                            Issue of Equity
                                           Board Changes and
                                   Appointment of Corporate Adviser
Issue of Equity

Eden Research, a leading UK agrochemical development company, is pleased to announce the completion of
a  placing  of  2,694,125 ordinary shares at 20p per share to raise GBP 538,825, before expenses.  The
proceeds of the Placing will provide additional working capital for the Company.

The Company has additionally converted GBP 500,000 of long term and GBP 45,000 of short term debt into
2,725,000 ordinary shares, also at a price of 20p.

Following these issues, Eden Research has 61,732,399 ordinary shares in issue.

The Directors acquired a total of 694,125 ordinary shares in the placing and their holdings are now as
follows:
Director                No of shares                     % of enlarged
                         held                            share capital
                                                            
A Abrey                 115,940                              0.19
S O'Brien                47,059                              0.08
K Brooks                786,010                              1.27
B Gill                  240,848                              0.39
C Newitt                107,095                              0.17

The  Directors are now interested in a total of 1,296,952 ordinary shares, representing 2.10 per  cent
of the Company's enlarged issued share capital.

Reorganisation of the Board

Having  been with the company since its inception as Eden Research, Tim Griffiths has now  decided  to
move  on  to  a  new business opportunity. The board is very grateful to Tim for all he  has  done  in
developing  and  partnering our core IP and for the management of the Eden  portfolio  through  to  EU
registration.  Tim has resigned as Chief Executive Officer with effect from 9 November 2009  but  will
be retained as a consultant for six months.

The  Board has now been reorganised so that Clive Newitt, the Company's Marketing Director, has become
the  Managing  Director  of the Company and Alex Abrey has become the Chief  Financial  Officer,  thus
widening his role.



Appointment of Corporate Adviser
                                                   
Eden  also  announces  that  it has appointed St Helens Capital Partners LLP  as  the  Company's  PLUS
Corporate  Adviser  with  immediate effect. The Directors of Eden  are  grateful  for  the  assistance
provided by their previous adviser, FinnCap.

St Helens Capital Partners LLP is the PLUS Corporate Adviser arm and wholly owned subsidiary  of  AIM
listed Evolve Capital plc.

Sir Ben Gill, the Chairman of Eden Research plc, said:

"This  placing  will not only help to strengthen the Company's balance sheet, but, also  provides  the
Company with funds to fully utilise the substantial bank of trial data that has been accumulated which
will  enable  us to complete licensing agreements for a number of our pipeline products. We  now  look
forward to progressing commercialisation."

"Given the very late stage we have reached in the registration process and the increasing number  of
commercial  possibilities,  now  is a sensible time to recognise the  changing  roles  of  the  Board.
However,  we  must also recognise the founding role of Tim Griffiths without whom we  would  not  have
achieved  all  we  have and we are thankful as a Board for all he has done and wish him  well  in  the
future."

Enquiries:

Eden Research plc
Alex Abrey, Chief Financial Officer                                                 01993 862761

St Helens Capital Partners LLP                                                     020 7368 6959
Mark Anwyl

Contact Information

  • Eden Research plc