But the Oxfordshire-based company said it was confident that its work to maximise the value of its intellectual property, which is aimed at developing environmentally friendly agricultural chemicals, would reap significant rewards.
Chairman Sir Ben Gill told the firm’s AGM that a number of developments were under way, including the expected emergence of the first product registrations in the agrochemical sector which will result in royalties being paid to Eden. “These are exciting times for Eden. We now have a firm foundation upon which to build and expand this business,” said Gill.
Following the meeting, he signalled his own confidence in the company by acquiring 187,000 shares at 13p each to take his holding up to 656,181 shares. Kenneth Brooks, the executive deputy chairman, also acquired 190,000 shares at 12.92p each and now holds 1.68 million. Shares in Eden have fallen by more than a quarter since it joined the stock market last month.
≤ Nicholas Clayton, a non-executive director at exploration company Circle Oil, has bought 120,000 shares at 17.36p each and now holds 220,000 shares.
≤ Two directors at property group Terrace Hill have upped their stakes. Executive chairman Robert Adair bought 375,000 shares at 9.6p each for his pension fund. Chief executive Philip Leech bought 100,000 shares at 9.75p each.
≤ John Rogers, chief financial officer at Sainsbury’s, has bought 17,850 shares at 280.14p each.
≤ Ivan Glasenberg, chief executive of mining giant Glencore International, has increased his stake after receiving a bumper share dividend payout. His purchase of 2.7 million shares at an average price of 364.8p means he has spent more than £29m on shares in recent weeks.
≤ Mike Tye, chief executive of the Spirit Pub Company whose outlets in Scotland include Milnes Bar in Edinburgh and the White Cart in Glasgow, has bought 109,289 shares at 45.75p per share. He now owns 405,757 shares in the company.