for more information about stanelco click on the links.

driver's research page link
http://www.moneyam.com/InvestorsRoom/posts.php?tid=7681#lastread
website link
http://www.stanelco.co.uk/index.htm

I heard it from a source I believe is very credible and reliable. There is nothing price sensitive about this info. But as you say, it indicates to me that cash flow is THE major issue.

We need some sort of income, if not SEO wont be around at xmas. I wasnt aware that Terry Ribbins was one of them however. I was hoping that the had got rid of the bottom layers, not the top!!!

I'd happily see Terry Ribbins go - hope its him and not Terry Robins.

tonyrelaxes

Please PM me on FYB with your phone number again. Unfortunately I emptied my whole inbox by mistake.

Thanks

The oily one

Stanelco only employ about 40 people, so 13 is a large number to lose!

The lower levels are not the problem as their cots is relatively low. Its the R&D, Stock, travel and entertaining etc plus a couple of big boys which has hit the Admin expenses.

Of course, if SEO have found that they can survive on fewer people all the better.

LOL, noted Oblo! I think i'll leave it unedited so your post doesnt seem odd.

SEO have confirmed that Terry has left and that they have made some redundancies as part of a cost cutting exercise - which is good news and could be seen as positive I guess.

Terry remains as a consultant to SEO - which is how he started out I think.

Martin is still in talks with WM and Perseco - and they apparantly are proceeding well - but as with all these things - they take time

Terry Robins was ex-Asda wasnt he?

Baza,

I promise you its not good news. Why sack over 20% (in fact over 25%!!) of your workforce unless you're pinned right up against a wall?

Just received this from Sylvia

"Dear Mr

Thank you for your emails.

Firstly, I am concerned that you believe I have not responded to your recent email. I have checked my inbox and that of the Investor Relations Inbox and confirm the last email from you was on 28.06.06 regarding Interims.

However, regarding your emails of today, I am meeting with Martin Wagner later today and will discuss your questions with him then.

Please be assured I will reply as soon as possible.

Best regards"


The oily one

bugz, you're right. after yesterday's news i thought things may have turned a corner but when you consider that the small size of the workforce was offered as one excuse for the delay in installing greenseal, then this is terrible news. also, terry robbins is one of the top guys in this field. why sack him?? i think the stench just got worse.

Re Terry Robins

How can a COO be a consultant/

A Chief Operating Officer in my book ought to be there and hands on to many things - operations - that are going on in the company. At least that was the case in the last company that I would in and their COO knew, in at least broad brush strokes, about most things.

Consultants at best only work a few hours a week for a company and may have more important things to attend to in their other work.

Just an observation

The oily one

Are we forgetting that none of this has been confirmed yet officially?

Terry Robins was with Sainsbury's.

Thanks bugz - most of my posts seem odd anyway, I'm sure!

This does not seem good news to me. If, as we had hoped, things were going to start to move I would have thought more staff would be needed, not less.

Sounds like his staying on as a consultant is purely part of a severance deal - not likely to be much actual consultation going on.

Maybe the 13 were those involved with Greenseal and Greenseal is dead.

A reluctance to communicate with shareholders, staff layoffs including at high level, no news of deals, cash problems. I know what I think, but I'll keep quite for now.

Angus, Baza has confirmed it. Presumably he phoned SEO. Thats confirmation enough for me, also if you look here:-

http://www.packagingnews.co.uk/subscribe.php

You can see there is a front page article on SEO.

Over to Alan for a positive view, please!

yes your right, you've got better eyesight than me.

This news is grim reading, just dumped most of my holding now this shares bad for your health man.

Why , can't we have a nice flow of just good positive news........
Would like to see who exactly has been given the push , so long as they are from dept's that won't significantly impact on roolout of the various products, I remain positive.
If Mr Robbins (formarly sainsbury packaging innovations something or other) has gone, unless we are told what exactly he was working on and who will fulfill his workload, there is no way to guage how this will impact. i'e is the move from RESEARCH to COMMERIAL ROLLOUT
from a personnal point of view, I think the initial reason he was taken on was re trials for packaging with sainsbury's --and that has gone by the by.
Hopefully onwards and upwards, at a reduced cost.
LOL

13 has not been confirmed but I dont think the number actually matters much. Its a number large enough to be described as 'cost-cutting.'

Cost cutting with a firm like SEO in the present situation means 'crap I can't pay next months phone bill! Lets sack some staff so we can.'

This is the reason for the drop for 10-12p down to 4-5p-the rumours went round the brokers and the price collapsed.

Having said all this, at 4-5p, the price of this share is a pure bargain considering what products and potential is here. Lets just bloody pray that some sales can go through soon and boost the coffers.

Oh yeah, to add, I like pain so I'm still holding.....a LOT more than I should be!!

I can't see it.

It's right at the bottom, you can make out "Stanelco readies for restructure" and something else?? looks like Revamps rolls??