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Case Over settlement atlast

Stanelco PLC
09 February 2006


9th January 2006


STANELCO PLC ('STANELCO')

STANELCO AND BIOPROGRESS SETTLE PATENT DISPUTE

Stanelco plc, the radio frequency applications group, and BioProgress plc, are
pleased to announce that they have reached a settlement of the legal dispute
between two of their subsidiaries.

Stanelco RF Technologies Limited and BioProgress Technology Limited were
disputing entitlement to three families of patents relating to the making of
water-soluble capsules sealed using radio frequency.

Under the main terms of settlement, both parties will be able to commercially
exploit all three patent families. Stanelco plc have agreed to issue to
BioProgress new ordinary 0.1p shares and or cash up to a maximum market value of
1,000,000.

Commenting on the settlement, Ian Balchin, Executive Vice Chairman, Stanelco
plc, said: 'We are pleased to have resolved this long running dispute with
BioProgress. This is a pragmatic solution for both parties and enables us to
concentrate on our respective businesses'.

I dont know about anyone else - but I call that a good result for both parties....win win

common sense , baza. now hopefully we can move on.

Morning chaps.
Line drawn.
Told ya so Kim. ;-)
Alan

Very interesting - there were one or two well informed people on the BPRG thread las t night elsewhwre predicting just such a result

Ahem. I refer my Right honourable friend to the reply I gave the house yesterday (post 14587)

This looks good for both companies, as they can now put this behind them. As a SEO holder I am very pleased with the outcome as it was at the lower end of the scale that I thought SEO would have to pay. Good luck to both companies.

Bet we dont hear much today from Blinger!

Good.

Yes, Greekman.
Crunching the numbers it is a dilution of the shares of about 0.6% (?).
I feel certain that SEO had a good deal more than this set aside as prudence would dictate, so I think it should have virtually zero effect and may (being hopeful here) even add to the available capital for other things.
Good result all round though. I am not even certain that 1million will cover BPRG legal costs so both sides obviously wanted to get it all finished as quickly as possible.
Alan

Well done Alan - I see the crystal ball is still working - or is this just the voice of experience where one is used to resolving simple issues such as this without making a fuss!!!

I hope no one was shorting this - as they will be suffering right now.

Just reasoned thinking Baza.
I sincerely hope explosive had his shorts covered. We had all been urging him for weeks to cover his position. I hope blinger had shorted even more, after all he also closed his long on BPRG just before two days of rises.
God I love it when an offensive poster finally declares his position AND gets it all so badly wrong.
Alan

seo stated in results last year that they had set aside 1m, and bprg also read that and it seems they settled for that figure. and bprg were insured for all their costs. So a good end to it all, but i'm sure seo are the winners, as they can still use the patents that put the deals on hold with cardinal

This is the first time that I am looking forward to blingers next post

I think Bling will be blong gone

Let me put you out of your misery then. Here it is days before he writes it;
Hah. 1mill. That will all come off the bottom line. Figures look bad this year now. Short this dog, its going nowhere. BPRG gave in cos the patents are worthless and these muppets paid 1mill for nothing. Plus costs of 20 Squillion.
Rights issue on its way. 4p by March. You rampers are all clowns.
Users you currently have squelched
Anyone who disagrees with you
Anyone who can see through you
Anyone with an IQ above 3

ROTFLHGFHGUYG

Excellent news. Pent up demand let loose. Suspect we may get further good news re InGel shortly. Glad I got back in last week.

Eric

Wey, hey! Decided to have a lie in this morning cos I didn't think there would be any news until after 10. Brilliant stuff, well done Alan. (Got any tips!?).

We could see a bit of healthy competition between the 2 companieds from now on, to push them both forwards at a pace.

Does this mean the end of all the sniping? Which BB do I go to for the latest entertainment?
Thanks to all involved in good reasoning.
Kim

Just seen a news flash, re Tesco planning to open stores in the USA. As the largest supermarket by far in the UK, no doubt they will be looking to compete with Walmart. Yes I know that sounds stupid giving the massive power of Walmart but competition will be a natural progress, even in a small way. Customers will look at both where the stores are closely situated. Now if Walmart take Greenseal etc, and it proves successful, Tesco would have to follow. All imho of course.

Alan, that sounds just like Blinger......I think I have it sussed folks, Alan IS Blinger!?! ;-)
Kim