PureCircle Ltd. (PCRTF)

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Stevia gets EU approval, PureCircle shares up 10% in London!


http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11032890

Regulatory Approval for Stevia in the European Union

PureCircle (LSE: PURE), the world's leading supplier and marketer of high purity stevia products announces the EU Commission's regulatory approval for the use of steviol glycosides in foods and beverages in the European Union.
The regulation permitting the sale and use of steviol glycosides has now been published in the Official Journal of the European Union as of November 12th. Twenty calendar days following this publication date, the regulation will enter into force and will be binding in its entirety and directly applicable in the EU Member States, allowing for sale of products formulated with steviol glycosides as early as December 2nd.

The number of food and beverage products sweetened with stevia continues to grow rapidly across markets and categories. Globally over 1,000 stevia sweetened products have launched and are now available across five continents and all major food and beverage categories. Products are now beginning to launch in larger brands and becoming more established through line extensions and increasing marketing support. In the US, the annual retail sales of stevia sweetened products have grown to more than $1.2B. In the EU, France allowed for an interim approval of high purity stevia extract, Reb A, in 2009. Since then, stevia has enjoyed similar success with consumers. In July 2011, awareness of the sweetener among the general population had already reached 47%, up from 23% just a year earlier.

Magomet Malsagov, CEO of PureCircle Limited stated, "The approval of stevia in the European Union marks a major milestone for PureCircle and the industry. The EU is the largest single market for sweeteners in the world. EU approval effectively increases the current addressable market for high purity stevia by more than 50%. We have been actively preparing with our customers and partners for the opening of the market with our broad portfolio of solutions. In partnership with sugar industry leaders, Nordzucker and Tereos, we have established a strong foundation of EU coverage. Consumers in Europe, as in the rest of the world, will soon be able to enjoy great tasting foods and beverages made with our no-calorie, natural ingredients."