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RisingStars portfolio company admitted to AIM


17 October 2006 -- Plant Impact plc has become the latest RisingStars Growth Fund portfolio company to be admitted to AIM, operated by the London Stock Exchange.

Trading of the company’s shares commenced yesterday after they raised £3.85 million in gross proceeds through a placing of 10,139,475 ordinary shares, representing approximately 44% of the enlarged capital of the company. The placing at start of the first day of trading was 38 pence per share, giving a market capitalization of approximately £8.8 million at admission. At close of business yesterday, Plant Impact was listed at 54.5 pence, a 43 percentage increase on the day’s trading.

Plant Impact has developed a range of nontoxic and ecologicallysound crop nutrients and natural pesticides which improve the health and productivity of crops. The company’s products allow crops to be grown in a way that is better for the environment, the consumer and the grower, whilst increasing yield, quality and shelf life. The company’s technologies are mainly for use on high value fruit and vegetable crops grown under glass and polythene, such as tomatoes, cucumbers, strawberries and peppers.

The RisingStars Growth Fund first invested in Plant Impact in December 2003, when £30,000 was provided as a pathfinder investment, for seed corn funding to support the cost of research and development. Since this time, the company has received further support from RisingStars, totalling some £870,000.

Jonathan Diggines, Chief Executive at Enterprise Ventures, said, “Enterprise Ventures, with its RisingStars Growth Fund, aims to support the development and exploitation of new technologies which meet the needs of industry and consumers today and for the future. Plant Impact is a prime example of what the Fund can achieve”.

Plant Impact seeks to position itself to address consumer, regulatory, political and market demands for greater food safety and sustainble agriculture by the development and introduction of acceptable, nonthreatening technology.

Mark Wyatt, EV Investment Manager for the deal and nonexecutive director of Plant Impact, said, “Plant Impact has developed a broad range of proprietary technologies and products that address substantial global markets. This fundraising has provided a solid foundation for the next phase of the company’s growth”.

Martin Robinson, nonexecutive Chairman of Plant Impact, commented, “The admission of the company’s shares to AIM marks another key milestone in the development of Plant Impact. The funds raised from the placing will be used to finance further development, the launch of new products, an increase in sales and marketing activities, assist in creating strategic partnerships and to finance the company’s working capital needs.”


RisingStars Growth Fund provides start up/ early stage risk finance to high growth technology companies located in the North of England, including the North East and Yorkshire, at the seed or startup phase, and will also invest at the proof of concept stage.

Companies must demonstrate real commercial prospects, and are likely to receive the funding in stages against development milestones.

In addition to finance, EV offers expertise in assisting companies with their strategic, technical and market development.
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Publisher Contact Information:

Enterprise Ventures Ltd. (EV)
+44 (0)1772 270573
mark.wyatt@enterpriseventures

Company profile of Enterprise Ventures Ltd. (EV)
Past press releases of Enterprise Ventures Ltd. (EV).

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