the pink pound
- 15 Jul 2003 01:10
From earlier this year.
"The fund raise significantly strengthens Symphony's balance sheet and will
allow us to maintain the quantum growth we have enjoyed over the past few
months. We are now receiving significant interest from a variety of sectors in
our degradable solution to the problems associated with plastic waste and,
following this strengthening of our resources, we are in a much stronger
position to meet the considerable demand for our products."
This last statement shows that corporations are looking seriously at Symphonys products. Yesterdays announcement shows a real coup for the company, as they have walked away from a potential exclusivity contract with no penalties!. Rarely seen IMO.
Bio-degradeable products are appearing everywhere, especially in the consumer disposal market, and Symphony look to be taking a large chunk of this with their own brands.
I believe strongly in the management of the company. I see they have the technical ability and also the qualities required to deal with the financial markets. Too often we see an excellent company with strong technical management, only to see them fail as they have no idea how to deal with the stock market.
That is why I am nominating Symphony plastics as my "tip of the week". If you get in early enough, I believe you could see a potential treble bagger by the end of July.
I would welcome your comments on the above analysis.
queen1
- 15 Dec 2006 16:18
- 218 of 362
Cheers soul traders.
G D Potts
- 15 Dec 2006 19:39
- 219 of 362
i thought the statement was rather odd - the financial agreements are fairly hard to understand, re. PUT etc, but overall it seems as if Symhpony are on track and recovering well.
G D Potts
- 01 Feb 2007 09:45
- 221 of 362
Ticking down now, sold half my holding at 12.5 but thinking re-investing.
soul traders
- 06 Feb 2007 10:51
- 223 of 362
Another slight drop today based on today's news, but that's hardly surprising; some lucky punters are geting the co for 10p a share!!
Symphony Plastic - Notice of EGM
RNS Number:7468Q
Symphony Plastic Technologies PLC
06 February 2007
SYMPHONY PLASTIC TECHNOLOGIES PLC
Conditional 1.4 million Share Placing and
Notice of Extraordinary General Meeting ('EGM')
Symphony Plastic Technologies Plc ('Symphony' or the 'Group'), the degradable
plastics and waste-to-energy company, announces a conditional placing of
14,085,000 shares at 10 pence ('Proposed Placing'), EGM notice and proposed
change of name.
Reasons for the Proposed Placing
Symphony has raised 1.4 million in a placing of 14,085,000 shares at 10 pence
subject to approval at EGM. The Board of Symphony believe that it is in the
best interest of the Company and its shareholders to replace part of its
overseas finance facilities and other loans and to further invest in the
enhancement of sales and marketing, R & D facilities and technical support
services.
Michael Laurier, chief executive officer has purchased 500,000 new ordinary
shares, Matthew Turner, managing director, has purchased 50,000 new ordinary
shares and Ian Bristow, finance director has purchased 50,000 new ordinary
shares as part of the Proposed Placing.
Following the Proposed Placing, the directors have the following interest in the
share capital of the Company:
Michael Laurier 12.18%
Matthew Turner 0.36%
Ian Bristow 1.05%
Michael Stephens 0.28%
Nirj Deva 0.02%
The Group anticipates trading in 2007 will be ahead of 2006 and also expects to
see maiden revenues from Symphony Energy Resources in the field of tyre and
plastic recycling. The Group expects sales for 2006 to be in the region of
4.3m.
Extraordinary General Meeting
Symphony is holding an EGM at 9:00 am on Tuesday, 27 February 2007, at Elstree
House, Elstree Way, Borehamwood, Hertfordshire WD6 1LE. The purpose of the
meeting is, inter alia, to provide the directors with the necessary authorities
in relation to the Proposed Placing of 14,085,000 new ordinary shares of 1p
each, at a placing price of 10p each, in the capital of the Company ('New
Ordinary Shares'), ranking pari passu in all respects with the existing issued
ordinary shares in the capital of the Company. Application will be made for all
such New Ordinary Shares, once issued and allotted, to be admitted to trading on
AIM.
Shareholder approval is also sought to change the Company's name to 'Symphony
Environmental Technologies Plc.', to better reflect the nature of Symphony's
business. This reinforces the Company's commitment to the development of
environmental technology solutions including oxo-degradable technology and waste
to energy systems.
For further information, please contact:
Symphony Tel: 020 8207 5900
Michael Laurier, CEO
Ian Bristow, FD
Panmure Gordon & Co Tel: 020 7614 8385
Andrew Godber
Citigate Dewe Rogerson Tel: 020 7638 9571
Ged Brumby
Further information on Symphony Plastic Technologies plc:
Symphony develops and supplies environmentally responsible pro-degradent
additives as well as plastic packaging products. The Group's main technology,
marketed under the d2wTM registered trademark, causes plastic to degrade,
leaving only water, a minimal amount of carbon dioxide and trace amounts of
non-toxic biomass over a short time period. The d2wTM product range includes
pro-degradent additives developed for an increasing variety of applications as
well as a range of finished flexible plastic products.
Symphony has a diverse and growing customer base in the UK and is establishing
itself as an international business with distribution agreements in Argentina,
Brazil, Canada & USA, Chile, Colombia, India, Mexico, New Zealand, Peru,
Portugal, South Africa, the Caribbean, Saudi Arabia, and Qatar. d2wTM products
can be found in more than 40 countries.
Symphony is marketing and developing innovative waste-to-energy technology
processing plants and is exploring various opportunities where there is a demand
to increase recycling of waste plastics, tyres and other waste streams by cost
effective processes.
Further information on Symphony can be found at www.symphonyplastics.com and
www.degradable.net.
G D Potts
- 06 Feb 2007 13:17
- 226 of 362
I'll give it a go later when im less angry about the flurry of red on my screen today.
G D Potts
- 12 Feb 2007 13:50
- 227 of 362
Could be topping up time soon - name change around the corner too.
G D Potts
- 22 Feb 2007 10:31
- 228 of 362
Well glad I didnt and that I sold half my holding around 13p!
Trading update IMO does not make for as bad a reading as the drop in the S.P. suggests - potential is still there and products are soundly based for growth - I will wait for S.P. to stabilise before considering further investment - 8p looks a bit cheap IMO!
queen1
- 22 Feb 2007 13:21
- 230 of 362
Market over-reaction as usual.
ddoc2
- 22 Feb 2007 13:31
- 231 of 362
presumably the share placing won't now take place, at least not at 10p.EGM planned for 27th. Looks like huge dilution reqd to keep this afloat. I would expect it to drop condiderably further unless management provide any more positive noises. agree the product and concept sound good but the negativity is quite disconcerting.
I also would only buy back in after the full effects of this are revealed. we need full details from management who are very economical with the revevant info.
hlyeo98
- 25 Feb 2007 15:38
- 232 of 362
A revenue warning from Symphony Plastic Technologies (SYM) left its shares trading 2.75p lower at 8p. The company said that it expected first-quarter sales to come in below expectations following a slide in orders in certain overseas markets. The biodegradable plastics specialist said that despite an encouraging final quarter last year, the anticipated move into profitability had been delayed. Symphony said it had been forced to take a more cautious view on the timing of the recovery from last year's strategic direction change.
G D Potts
- 26 Feb 2007 08:59
- 233 of 362
Bad news but I don't think its the end of Symphony ddoc2.
G D Potts
- 30 Apr 2007 17:11
- 234 of 362
Symphony Plastic Technologies PLC
30 April 2007
BUSINESS UPDATE AND BOARD CHANGE
GRANT AWARD
BUSINESS UPDATE
Symphony Environmental Technologies Plc ('The Company,') the degradable plastic
and waste-to-energy Group is pleased to announce that since the last business
update on 22 February 2007 significant progress has been made in a number of key
business areas. In Portugal the country's largest retail group, Sonae, has
adopted d2wTM in all their carrier bags for their Continente, Mondelo and
Mondelo Bonjour supermarket chains, which are estimated to account for more than
500 million bags per year. This is significant not in terms of absolute value,
but for the breakthrough which it represents. This builds on the current
portfolio which includes Marriott, Royal Caribbean Cruise Lines, Tesco and the
Co-op who all presently use d2wTM finished products or our additive technology.
On 22 February 2007, the Company also announced delays in orders in a number of
key overseas markets. Following high level discussions with major clients in
these territories these problems have now been addressed and corrective action
taken to bring sales levels into line with management expectations. Further
updates will be made when the Company's Preliminary Results are announced before
the end of May.
The Company also announces that Matthew Turner, Group Managing Director, left
the Company on Friday 27th April following a review by the Company. There are no
plans to appoint another Group MD.
A strategic review of the organisation of the business is nearing completion.
There are now three operating subsidiaries (see notes to editors), and in future
the Plc itself will be organised into separate operating departments each headed
by a specialist reporting to the Chief Executive and thence to the Board. It is
anticipated that this will improve the efficiency and management control of the
Company and will focus specialist expertise where it is needed.
50,000 GRANT FROM UK GOVERNMENT
Symphony Energy Resources Ltd. ('SER'), a wholly-owned subsidiary of Symphony
Environmental Technologies Plc, was created to focus on converting
waste-to-energy by innovative processes. It is currently working with two
waste-to-energy reprocessing technologies, Thermal and Microwave Pyrolysis. The
Company, is pleased to announce that SER has accepted an award from the UK
Secretary of State for Trade and Industry of a grant of 50,000 for a
feasibility study into microwave pyrolysis of scrap tyres.
SER will be undertaking this study, in association with Imperial College,
London, to gain a greater understanding of microwave activity in this
application, and of the thermodynamics of microwave degradation of tyres.
The outputs of microwave pyrolysis are a Tyre Derived Oil (TDO) and carbon
black. Microwave energy is more efficient than heat in terms of
processing-power consumed and is expected to give off lower direct and indirect
emissions per ton processed. The output products are expected to be cleaner and
therefore of higher value than their thermal equivalent. The study is due to
start shortly and is expected to run for a period of 20 weeks.
These technologies address two of the world's most significant environmental
concerns, - the disposal of waste, and the reduction of dependence on imported
oil. The Company will announce the findings of this study in due course.
G D Potts
- 30 Apr 2007 17:14
- 235 of 362
Exciting times ahead.
A large number of Multinationals have shown faith in Symphony D2w products and the problems expressed in its last trading statement have been addressed.
A grant has been made to one of SYM's subsidiary's to carry out some exciting and potentially lucrative research.
Preliminary's due end of May which should be very interesting, I have no doubt these will reflect well on SYM's performance and make a note that they will be moving into profit.
Will raise my holding when trading opens tomorrow morning. Shares could easily double back to 14p in 07.
queen1
- 30 Apr 2007 19:45
- 236 of 362
Excellent news on all fronts, especially in Portugal. The grant award is extremely interesting as well and shows a commitment to, and enthusiasm for, SYM's technology.
G D Potts
- 01 May 2007 11:33
- 237 of 362
I've just topped up at 7.73
Return to 14p looks on.