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
|
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.