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

P.S.

http://www.luxmoore.co.uk/commercial/sainsburys.html

knol,

I frequent three BBs and this is by far the most informative and mature. A year or so ago, the likes of Alldick and Fred1view would have simply been ignored or got short shrift.

In short, those elements if entertained would turn this BB into a mirror image of ADVFN's.....I know which I prefer.

I am willing to look at both sides, but admit to still being optimistic re: SEO's prospects or else I would have bailed a while back.

REG-Stanelco PLC Additional Listing
Released: 14/08/2006



RNS Number:6197H
Stanelco PLC
14 August 2006

Stanelco plc (the "Company")



14 August 2006



Additional Listing



The Company will make application to the UK Listing Authority and to the London
Stock Exchange for 10,313,067 new ordinary shares of 0.1p each ("Ordinary Shares
") to be admitted to the Official list and to trading on the London Stock
Exchange ("Admission"). It is expected that Admission will occur on 18 August
2006. The new Ordinary Shares are being issued pursuant to the exercise of
options under the Company's EMI Option Scheme by a number of employees in
respect of 2,306,662 new Ordinary Shares. The remaining 8,006,405 new Ordinary
Shares are being issued in respect of subsequent consideration shares as
specified in the Sale and Purchase agreement dated 3 June 2004 for the
acquisition by the Company of Aquasol Limited.

I have been looking back through SEOs announcements, RNSs, and Accounts Statements and noticed more about Terry Robins's departure that had not been picked up on until someone read Packaging News last week.

Comparing the list of Directors from the Y/e 31Oct05 report and the Interims to 30April06 I see his name has indeed gone. Those Interims, dated13July06, includes the following on page 4 :-

"Board Changes
The Board has been further restructured and strengthened. Clive Warner has been
appointed as our Finance Director, bringing considerable commercial experience
to the management team."

Funny they report that, but not that their Chief Operating Officer had ceased to be a Director which had clearly happened by that date. Is his departure part of the "strengthening" they mention?

This is, I believe, the first Board Change not to have been subject of an RNS.

A sceptic could be forgiven for thinking SEO wanted to keep it as unnoticable as possible. Either because it could cause investor disquiet in itself or possibly TR had brought nothing to our company?

Hmmm............

Robins was also the only Director not to attend the AGM on 2 May. No mention or explanation was given for his absence.
So maybe his departure was even before then.

TonyR,

This is an extract from the Annual results:

"An Executive Management Board has been established to manage and supervise the day-to-day activities of the Group and as a result Terry Robins, Robert Duggan and Graham Whitchurch have been appointed to this body"

Were the other two mentioned above present at the AGM?

Maybe, as a director, he was on a fixed term contract, and his appointment term was in the original RNS when he was appointed, but I aint going back that far!!
;-)
Alan

Garyble.
Ahh, got it! thanks.
You quoted from just above where the Chairman said (on 27 February06) the 3 directors had resigned the Board.

Sorry folks - I am just getting too suspicious and seeing shadows that are not there!

I really hate afternoon RNS's.
i always feel they've got something to hide and us poor muppets have been led up the garden path in AM.
Anyone got any views re the timeing of this share dilution?

No,especially as its only about 1%.I feel there are far more important issues to be addressed at present such as those being discussed by the more mature members of this board.

The share dilution is interesting in one respect. We knew all about the issue for the purchase of Aquasol, but 2.3 million shares (approximately) are the exercise of options, for the benefit of staff.
It would be very interesting to know when these options expire and what is the exercise price. If they are dated for expiry very soon, then that is not interesting. If they are dated for expiry long into the future, why exercise them now? what is the price on them? At this sp then there is nothing to be made on turning them straight around. Even if they were issued at 2p then the most that could be made is about 60000 before taxes and costs.
if the one exercising them expects bad news, that may be all they would hope to make.
I would love to know that exercise price and date.
Alan

alan

the options, could they be part of the redundency packages.

Very possibly, Jim. Its a good point you make.
I would still like to know who has exercised them, for whom and at what price, as I feel it odd that options are exercised when the sp is at its lowest ebb and the future looks very unclear.
I can make a case for exercising them and flogging them on quick if there is a major problem and the future is bleak. I can't make a case for exercising them if good news is around the corner, unless they are about to lapse.
Infuriating that we do not know.
Alan

I think it's, we giving you a generous number of share options as part of your redundency package, but cannot cash them in for a year. (Keeps cash in the bank).

Alan,

The notes to the Annual Accounts to Oct05 lists the various EMI options. They are exercisable at various dates. The "start" date of the various options is Oct 04,05,07,08 and Dec07, Jan08, Feb08 and July08.
The first expiry date is Oct 2011 so there is no attempt to beat a deadline.

There is Benefits in Kind tax to be paid on taking up options based on the difference between the exercise price and Market price. - if exceeding 30,000. This tax has to be paid within a month from the employees own resources. This is why Directors often sell half shares taken up under an Option. They then have the remaining shares "for free".

By taking them up now they would be saving themselves Income Tax against if they take them up at a later date when the SP is far high. (when?).
There is a downside for them in that Capital Gains Tax starts to potentially run from the take up date and that would be from the lower value on the earlier take up date.

If staff are taking these up now it is presumably because they have confidence and want to lock in to them now to save Income Tax. They would certainly have been paying far more Income Tax if they had exercised their options a year ago so that they are doing it now looks like a good sign.

Although a dilution, they do pay cash to SEO for their shares so it is not a straight dilution. The value of the whole increases. Exercise prices of currently open options are 2.95p and 2.35p so it would be only half the aparent dilution.

There are other 'unapproved schemes' but the RNS does not seem to apply to those.

Thanks for that Tony.
i really should know all that and it should just trip off my tongue, but I have got rusty over the years!!
I'll leave specualtion on what (if anything) we can read into it, to those better informed than I.
Alan

in my old company staff were given options when they joined to exercise at a certain price and a future date. The price was based either on a 3day average or a fixed price as per company rules/regualtions. So when any staff with option leave the company, they have to exercise their options. They can either buy these shares and hold on or offload it, without owning the shares and pocket the difference after deducting the taxes.
Now as the SP is at 5p, assuming that the options were issued around 8p upwards to these staff, the only option for the staff is to buy and hold. Unless the options has been issued between 3-5p and they are taking their profits now, which is very unlikely.

So i am happy today that some employee has paid for their shares and are holding it for later gains.

Thanks for taking the time to discuss this point.
I appreciate as an 'immature' member my point counts for nil. but my 2p's worth is:
SNAFU. the shares will be part of a redundancy package with a caveat that they can't be excersised until sp hits say 10p or 1. LOL

On another note , my wife (who is her own 'man' -so to speak) made two large purchases of SEO today- neither of which showed up on screen? - it's as though no-one wants the sp high for a bit longer.

Alan,

Your bit..."Several weeks ago I posted that Asda were concerned over transportation issues".
I remember your post and also about the same time as reading such in the newspapers ( I think the Telegraph ) also mentioned Tesco considering the same.
It was a further indication that these companies know that green policies are what customers are starting to demand more and more.
If Green means more customers, more profit, thats what they will get.

The ASDA deal covers the U.K and Ireland so there must be a machine or machines installed in Eire as well. I know ASDA bought out Morrisons here in N.I. last year 11 stores if memory serves me right. They would hardly want to ship it all from the mainland. Does anyone know how many stores ASDA have in Great Britain and Ireland? The next fortnight is certainly going to be very busy if rollout is early September.