Has anyone any ideas as to why this stock has powered head today. I noticed that it moved slightly up just before close yesterday.

About time that it moves. I guess most people are out of this dog......

Have you seen the latest RNS today?

RNS Number:4830J
Symphony Plastic Technologies PLC
08 March 2005


8 March 2005


SYMPHONY PLASTIC TECHNOLOGIES PLC
Conditional 1.7 million Share Placing and
Notice of Extraordinary General Meeting


Symphony Plastic Technologies Plc ("Symphony" or "the Company"), the degradable
plastics company, announces that it is holding an Extraordinary General Meeting
"EGM" at 9:00 am on Thursday 31st March 2004, at Elstree House, Elstree Way,
Borehamwood, Hertfordshire WD6 1LE.

The purpose of the meeting is to approve a placing of 11,666,667 new ordinary
shares of 1p each, at a placing price of 15p 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.

Reasons for the Proposed Placement

The Board of Symphony believe that it is in the best interests of the Company
and its shareholders to replace funds that are currently tied up in court and to
finance the anticipated increase in levels of existing business as well as to
facilitate further expansion. The Proposed 1.7 million Placing will strengthen
Symphony's balance sheet and the Company will be well placed to meet the
expected high level of demand for d2w (R) totally degradable plastic products in
various markets and market sectors.



If you are a believer, BUY, I guess - DYOR

can i ask a question this company that is takint them to court again
how big is it

i mean is 2mill enougth to buy it

just a thought

and it would be a good idea if its already in america and we need a distributor for our product

and its what id do

just an idea

This was the announcement on 11th October 2004

FURTHER DEVELOPMENTS IN THE HIGH COURT

Symphony Plastic Technologies plc ("Symphony") today announces an update regarding the ongoing claim against Symphony by EPI Environmental Products Inc (EPI).


As announced on 14 July 2003 the license agreement with EPI was terminated. EPI issued proceedings against Symphony on 25 February 2004. EPI claim thatSymphonyhave breached a number of agreements concerning EPIs degradable additives,namely that they constitutea breach of contract, passing off and misuse of confidential information.


In relation to a claim by Symphony for security for costs, a High Court ruling on 8 October 2004 has now ordered EPI to make a further payment into Court of 170,000 by 18 October, making a total of 330,000 paid into the High Court by EPI as security against Symphonys anticipated legal costs. No payment by way of security has been awarded against Symphony.


An application by EPI to adjourn the trial date was rejected by the Court. The Court awarded a proportion of the costs for this Hearing to Symphony specifically to reflect their disapproval of aspects of EPIs presentation. The balance of the costs from the Hearing will be treated as costs in the case.


Michael Laurier, Chief Executive Officer, said:


The date of trial is scheduled for mid November and we remain wholly confident that we will prove in Court the absence of any substance to EPIs claims. Symphony fully expects to see this matter through to a successful conclusion."


And this was the announcement about the court case on 21st December 2004

Successful Court Judgement


Symphony Plastic Technologies plc (Symphony), the degradable plastics company, announces that the judgement in the case brought by EPI Environmental Products Inc (EPI) against Symphony has now been handed down by the High Court in London.


The most important claim by far, that Symphony copied EPIs technology, was dismissed entirely, together with all but two of the other claims which were made. This leaves Symphony free to continue to exploit its own technology worldwide.


Of a total of eleven claims brought, two lesser claims were upheld, one relating to the return of documents will result in only nominal damages of 2, and the other, principally relating to the use of stock, remains to be assessed by the Court. Symphony does not anticipate that this will result in a significant amount becoming payable.


EPI was ordered to pay 85% of Symphonys cost on the standard basis.


Michael Laurier, Chief Executive, said:


The very favourable conclusions of the Court mark a very welcome end to months of uncertainty. We are grateful for the loyalty and support of our many friends, customers and shareholders during this trying time. We are delighted with this outcome and look forward with renewed enthusiasm to taking our business forward in the light of this clear and positive verdict



I can only suppose that SYM have costs tied up in the court case which they cannot yet get reimbursed as to 85% by EPI until either they have deceided not to pursue an appeal, or their appeal has failed. This could be some months away.

It does seem pretty clear that the cc is a non-material issue other than temporary cashflow, subject to what any appeal might bring - what is the normal time-limt to lodge an appeal, anyone know?

I can only see today's dip as a golden opportunity for those who know this company to top up. If I were a rich man . . . da-dee, da-di, da-di, da-di, da-di, da-di, da-di, dee

from the musical Dog on the Woof!

SD

I think it would have been nicer for SYM to have announced the new shares issue at the same time that they told us about the Saudi contract!!!
Despite the jolt in the sp it has held up reasonably well.Do you expect it to fall to 15p if the EGM approves the issue?
I bought on Monday(of course)expecting a nice rise for the week.I don't want to hang around for months while the sp moulders.
With this Saudi deal what currency will payments be in?
The rising Rand has knocked the African mining stocks this week,the re-valuation of the Malaysian cuurency could affect the price of palm oil.Everyone worries about receiving payments in USA dollars.I think we should pay more attention to currency considerations when investing in companies ,not just p/e etc.
Nice to hear your opinion,Stockdog.

To be fair ethel, with the recent announcemtn oof N. AMerican and S. Arabian deals, you might expect them to need some more working capital and 1.75m (before costs of placing) is not a lot of cash these days to service two major contract.

I believe they have now done their homework as to their real neds (cc news included) and whether debt or equity (or a mixture) is the best resource.

11.7m shares at 15p + 48.3m existing shares at 20p (? bid before announcement) = 60m at 19p. So the bid price is 1p below where it might be reflecting mild negative sentiment on the news - that's a 5% advantage on the price if you buy now before sentiment recovers.

Look at DDDI's option to buy 4m shares of the company at 30p this year and the proposed listing of DPPI on a N. American exhange (SYM owns 25% of this company) if you want to look forward to some good times to come.

SD

a positive forward looking statement today.only the appeal holding back the price.

can i ask a simple question

why is this share being held back because of the appeal

i ask this for one simple reason

immerson are an american group who have just won a case against sony for (yes you can guess it) patient infringement.

what happens to this company when an appeal is anounced it rises by 19%

is this just an american thing or have the brits got something wrong with how they do buissness

just curious as unless they have new and as yet undesclosed evidence that might change the decission in fav of them then why is this share not flying of the shelves

can anyone answer my simple question

Well, DF, the problem is your question is not so simple as you claim - in fact the answer is contained in no less than the entire market response this very morning which tells us the share is worth 19/20p bid/offer.

The other bits of your post are merely irrelevant.

Welcome to the orchestra!

SD

what response sd

have i missed something
i think not but plz point me

as for my irrelevance its something simmilar to yours

yours the dead

Sony were found in the wrong and ordered to pay $90m for patent breach to Immersion which was 3 times their last years total revenue. That is why their share price rose. it actually went up by 32% at one stage prior to dropping back to 19%.

Of course Sony appealed, it part to stop the condition that would have stopped them from selling playstations immediately. Clearly the market expects sony to at least pay a huge out of court sum or the court figure in order to protect their position.

I think we over here have a somewhat smaller fish to fry. the decision was that no one has broken a patent, remember symphony were the defendant, means there is no big payout. the position remains as prior to the action rather than hugely changed as in the sony case.

hence what is important but bears little association here.

GN


PS every time i shop at tesco i see EPL logo's on the bag with the tag line totally degradable plastic......

well ask this question if they took sym to court and were found to be in the wrong(ie sym did not break there patent)

imho sym should be looking for recompence for there name and for there shareholders

if it was me id be looking to get this case over with then when(unless they have new and devistating evidence)id be taking them to court for lose of a good company name and for damage to my shareholders trust just my opinion(after all the americans gave us the sue for anything culture lets use it for our advantage)

just an opinion thats all

ps ask yourself this what would they be doing now if they had won??????????
(money comes to mind)

more buys today and yesterday...perhaps something in shares mag or ic!

another contract........keep it coming sym!

Why the drop in SP nonetheless? End of tax year profit-taking or something else?
SD

perhaps to do with another spike up today with oil prices....mind you everything in my portfolio showing red apart from mdw.

Really,everyone should invest in Symphony Plastics.They are doing wonders with the recent contracts with Saudi Arabia and Quatar , signed within such a short time of each other....and the sp drops.Typical of today's horrible market.
Buy these shares.Think of our environment.

Here, here!

Hunter Hall is a leading international ethical fund manager, based in Australia,
with $AUD 2.8 billion under management. The Hunter Hall Global Deep Green Trust
implements its positive ethical investment policy by investing only in companies
which make a positive impact on environmental, humanitarian, social, and
sustainability issues. In addition, it excludes investment in countries which
support commercial whaling and donates one third of management fees to charity,
including projects which support biodiversity.

Hunter Hall's Executive Chairman, Peter MacDonald Hall, said today: "We are
investing in Symphony because we want to see its cost-effective degradable
plastic technology used to reduce the appalling problem of plastic waste which
floats on the oceans and pollutes the rivers, fields and streets of the world.
We also support the work it is doing in the field of waste-to-energy.

Our generation of humanity has the responsibility to take up the struggle to
understand the issues and to use our rationality to change human behaviour to
re-create a sustainable and balanced world."

"Our generation of humanity has the responsibility to take up the struggle to
understand the issues and to use our rationality to change human behaviour to
re-create a sustainable and balanced world."

You can't argue with that.

Balanced world ? god help us. But then its his problem ? or is he out to get us. KILL HUMANITY AND SAVE THE EARTH.