Eden Research to join City’s junior market
EDEN Research has announced it will begin trading on the Alternative Investment Market this Friday, with a value of around £20m.
The company, which is withdrawing from the Plus market ahead of the move, is chaired by former National Farmers Union president Sir Ben Gill.
Eden Research describes itself as an expert on environmentally friendly technology used in the agrochemicals and animal health industries as well as in consumer products. It specialises in combating rot in grapes and protecting crops for the wine making industry.
Zeus Capital is the adviser and broker for the deal.
Eden Research’s results for the year to 31 December showed revenue of £91,000 compared to £172,529 in 2010.
It made a pre-tax loss of £3.3m, broadly unchanged from the 2010 figure, and reduced its debt to £650,000 from £2.95m in 2010.
It raised £950,000 from existing investors in the form of convertible loans after the year end.