Director appointment & grant of options
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Symphony Environmental Technologies plc (AIM: SYM), global specialists in technologies that make plastic and rubber products smarter, safer and more sustainable, is pleased to announce that Michael Kayser has been appointed as an independent non-executive director of the Company with immediate effect.
Michael is an experienced finance professional with more than 40 years' experience across a variety of roles in both UK and with international organisations. During the last 10 years he has primarily provided non-executive director services to organisations including the Transport Research Foundation, Biome Technologies Plc, the Transport Systems Catapult and Stobart Group Limited. Prior to this, Michael also worked for Accenture, Guinness (worldwide Finance Director for its beer division), HSBC, Laporte plc (Finance Director), Lloyds Register (CFO and Chief Operating Officer), Royal Bank of Scotland (private equity) and Unilever.
Michael Laurier, Chief Executive Officer, commented:
"I am delighted that Michael is joining the Board at this pivotal moment. Michael has substantial experience with domestic and international trade, finance and in particular the biodegradable plastic market. On behalf of the Board, we welcome Michael and look forward to working with him."
In accordance with Schedule 2(g) of the AIM Rules for Companies, Michael Arthur Kayser (aged 68) holds, or has held in the past five years, the following directorships and partnerships:
| Current directorships | Directorships held in last 5 years |
| Transport Research Foundation Trade Advisers Ltd | Transport Systems Catapult Ltd Malachite Advisers Ltd Biome Technologies Plc |
Michael Kayser does not hold any ordinary shares of Symphony as at the date of this announcement. As set out below, he is being awarded 150,000 options over ordinary shares of Symphony.
There is no further information on Michael Kayser required to be disclosed under Schedule Two, paragraph (g) of the AIM Rules for Companies.
Options
The Company has granted options to Michael Kayser over 150,000 ordinary shares of Symphony ("Options"). The Options are exercisable at a price of 4.5 pence per ordinary share, being 20% higher than the closing share price on the day immediately preceding the date of grant of the Options. The Options vest after six months from the date of grant and expire on the third anniversary of the date of grant.
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |
| a) | Name | Michael Kayser |
| 2 | Reason for the notification | |
| a) | Position/status | PDMR / non-executive director of Symphony Environmental Technologies plc |
| b) | Initial notification/ Amendment | Initial Notification |
| a) | Name | Symphony Environmental Technologies plc |
| b) | LEI | 2138001WEI2WG26TMH90 |
| a) | Description of the financial instrument, type of instrument | Options over ordinary shares of 1 pence each (" Ordinary Shares ") |
| Identification code | ISIN: GB0009589168 | |
| b) | Nature of the transaction | Grant of options over Ordinary Shares |
| c) | Price(s) and volume(s) | Volume: 150,000 Price: not applicable |
| d) | Aggregated information - Aggregated volume - Price | Volume: 150,000 Price: not applicable |
| e) | Date of the transaction | 2 January 2024 |
| f) | Place of the transaction | Off market |
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