Change of Equity Subscriber
Subscription for 12.5m shares at 20p split between Quantum Leap Capital and Q111Fund, raising £2.5m total.
- Tranche A shares 1,250,000 ordinary shares
- Tranche A proceeds £250,000
- Tranche B shares 11,250,000 ordinary shares
- Tranche B proceeds £2.25 million
- Price per share 20 pence
- Q111Fund stake post-admission 4.7 per cent
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Symphony Environmental Technologies Plc (AIM: SYM), the global specialist that makes plastic and rubber products "smarter, safer and sustainable" announces that the terms of the original subscription announced on 8 May 2025 for 12,500,000 new ordinary shares of nominal value 1 pence each in the Company ("Ordinary Shares") by Quantum Leap Capital ("Quantum") have been amended.
The subscription was split across two tranches:
- Tranche A was for 1,250,000 new Ordinary Shares at 20 pence per share. This has completed and raised £250,000.
- Tranche B was for 11,250,000 new Ordinary Shares at 20 pence per share raising £2.25 million. The subscriber has been changed from Quantum to Quantum Leap 1.1.1 Fund LP ("Q111Fund"). Further details are provided below.
All other material terms remain unchanged. Tranche B Ordinary Shares, as before, are expected to be admitted to trading on AIM on or around 9 June 2025 ("Admission"). Following Admission Q111Fund will hold 4.7 per cent. of the enlarged issued share capital of the Company.
Total Voting Rights
The total issued share capital of the Company is currently 226,349,120 Ordinary Shares.
The Company does not hold any shares in Treasury. Therefore, following Admission, the total issued share capital and total voting rights of the Company will be 237,599,120 Ordinary Shares.
The above figures may be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure and Transparency Rules up until Second Admission.
Michael Laurier, CEO of Symphony said, "I am very pleased to welcome Quantum Leap 1.1.1 Fund as a significant shareholder in the Group. This investment strengthens Symphony's balance sheet whilst we are working to complete the Group's many exciting opportunities."
About Q111Fund
Quantum Leap 1.1.1 Fund LP is established in Delaware, USA to invest for growth in accordance with the rules of the US Securities & Exchange Commission (SEC), the US Investment Advisors Act of 1940, and the US Investment Company Act of 1940. The fund is managed by Quantum Leap Capital, LLC, an SEC registered investment advisor in the USA.
D2W TECHNOLOGY
Symphony has developed over 25 years a biodegradable plastic technology which addresses the problem of persistent microplastics, by turning ordinary plastic at the end of its service-life into a waxy substance which is biodegradable. It is then no longer a plastic and can be bioassimilated in the open environment in a similar way to a leaf without leaving microplastics behind. The technology is branded d2w® and appears as a droplet logo on many thousands of tonnes of plastic packaging and other plastic products around the world, much of which has been recycled. In some countries, this type of plastic is mandatory for short-life plastic products.
D2P TECHNOLOGY
Symphony has also developed practical and cost-effective ways to upgrade plastic products to provide protection against bacteria, viruses, fungi, insects, odours and fire. See www.d2p.net.
NbR TECHNOLOGY
NbR is made with natural minerals to reduce the amount of fossil-derived polyethylene or polypropylene used for making plastic products. The products can be recycled, but will biodegrade safely without leaving microplastics if they escape recycling and end up as litter in the open environment.
When NbR is used instead of normal polythene or polypropylene, it will reduce the amount of fossil-derived plastic in the product by 20%, as well as cutting CO2 emissions.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.