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

Financing update


Further to recent trading updates on 17 August 2006 and 8 September 2006, the
Board of Stanelco plc wishes to confirm that the Company is in the final stages
of completing a fundraising at 0.8 pence per ordinary share.

Carefully worded statement to imply that funding 'is' been 'completed'.

Kim, greekman;

For the Biotec products to 'get to market' as quickly as
possible Stanelco intends to utilise available plant capacity at Biotec in
Germany to manufacture resin which will be supplied to converters such as UZET
World in the US.

Bloody hell, my printer has missed 2 pages!; thanks for that Alan - I now have the complete RNS! I did a bit of research on UZET some months ago, with SEO in mind, and from what I remember, they have quite a wide client base. Hope they can do SEO some good.
kim

Thanks, greek.
Not sure where it fits in to there current range though, unless they are thinking yoghurt pots etc.
Alan

Alan, I think SEO are probably more interested in UZET's manufacturing capabilities rather than what they produce at present; I hope it does not mean they are looking at another joint venture however!
kim

Not sure if I got this right.
Applications and full payment must be with Registrars by 1 November.
EGM on 6 November.
I appreciate that applications and issue will be dependant on the EGM votes but it seems we have to decide on take-up prior to hearing what the Directors have to say.
And that if there are to be significant contract announcements these are to be in October sooner than early November, as I was expecting.

sorry - double clicked!

The RNS does say a prospectus is on its way out, Tony, so you will hear what they have to say, you just won't be able to ask questions.
Alan

Tonyrelaxes
Could you please state where this news comes from;
"And that if there are to be significant contract announcements "these are to be in October"
Thanks.

I think the Prospectus is the big white document without a cover like we had in August last year about the BioTec acquisition. It only contains facts about the Company - not prospects (despite the name!)
It contains masses of information such as employment Service Contracts etc etc. Far more information than the Annual Accounts.
The last one was highly informative but gave no indication of what is to come.

The Prospectus is planned to be issued on this wednesday 11th. So only tomorrow to announce anything to go in it that is not already in the public domain.

Patisear
See past posts from Alan about his "imaginary" friend and ADSAs plans for November.
And I did say IF

To back that up, I can confirm that Asda is still "on", as of last Friday.
I am also interested looking at the "such as UZET world in the USA" bit.
This suggests that;
1) SEO have clients waiting in the USA
2) As we have discovered, SEO are looking to utilise spare capacity wherever they find it as a cheap and quick route
3) There are others in the same position.

There again, you can read anything into an SEO RNS.
Alan

Tonyrelaxes
Thanks.

As yet, there are no contracts. This is an open offer and not underwritten. The fundraising may or may not be successful. (Howard White's role will be interesting).It appears nobody really wants the shares. If contracts materialise, they cannot be that useful given the lack of interest from serious players.

just got back only had time to read a few posts, part of obol question re post 21047 has been answered re if the s/price goes below the 0.80 level this is the problem with it not being underwritten, if it was ,it would make no difference has the company would still receive the full amount they want.
as i posted here about a month ago the company were struggling to get any backers to pump more money no one was interested to take on the shares if shareholders passed on the uptake , so it comes down to shareholders do you pass on more shares or help the company to keep going?

oblo, totally agree with you about this bit,

"In order to exploit opportunities in the US relating to the manufacture of
Biotec Materials relating to MAP, it will be necessary for Stanelco to make use
of Biotec's intellectual property. The Joint Venture Agreement does not,
however, explicitly create a licence for Stanelco to use Biotec's intellectual
property nor does it expressly provide for SPhere to co-operate with Stanelco in
order to procure that Biotec grants Stanelco the appropriate licence to use
Biotec's intellectual property. Having taken confirmatory legal advice on the
interpretation of the Joint Venture Agreement (on the basis, inter alia, that
Biotec has insufficient capacity to meet Stanelco's requirements for Biotec
Materials relating to MAP, particularly in the US, that it is unable or
unwilling to build the facilities in the US to meet such requirements and the
parties have or will have unsuccessfully tried to find alternative solutions to
minimise the impact on Biotec's business in accordance with the provisions of
the Joint Venture Agreement), Stanelco believes that there is an implicit
obligation on SPhere to co-operate with Stanelco to pass a shareholder
resolution directing Biotec Holding GmbH to grant the appropriate licence to
Stanelco or to procure that the relevant Biotec entity does so.



There is, however, a risk that in such event SPhere will not co-operate with
Stanelco in which case Stanelco would need to refer the matter to arbitration
under the terms of the Joint Venture Agreement. In such event, there is also a
risk that the arbitrator would find against Stanelco and would not oblige SPhere
to co-operate in procuring that Biotec grants Stanelco the appropriate licence.
In addition, unless and until such time as Stanelco obtains the appropriate
licence from Biotec, there is a risk that the relevant Biotec entity will seek
to bring an action against Stanelco for infringement of its intellectual
property rights and that the German courts will uphold any such action."

when you consider seo timeframes (!!!!) these paragraphs are quite frightening. nearly 15 months on from the official start of the asda contract and greenseal still isn't a go-go.

"The exclusive agreement between ASDA and Stanelco for Stanelco's GREENSEAL
technology has been extended for another 12 months by verbal agreement as at 10
August 2006. The exclusivity will be waived after the first machine has been
installed in an ASDA packaging supplier's factory. This will then allow Stanelco
to roll out GREENSEAL to non-exclusive ASDA sites."

are we still waiting for the first machine to be installed? sounds like it. i'm not really all that encouraged by this rns. anybody going to the egm be sure to give them, (the management), a good verbal kicking....... please!

Are there still 60mil shares on loan to shorters???

What happens to loan stock when this dilution happens?

Alan,

Thanks re the Uzet bit.
Looking at it I also think it's the manufacturing capability they are interested in.

Kim,

As to another joint venture. May not be a bad thing dependent of course on conditions,terms. A joint venture might be the best way to get things moving in large quantities quicker. Just a thought.

Tony,
re your comment about only tomorrow for anything that has to go in the prospectus being issued.
Would i be right in saying that the prospectus will have the rider stating that it is correct at the time of going to press? Also, the issuing of it does not put SEO in a close period, and finally that any announcement could be listed as an addendum to the prospectus.
If any of those are right, then news can come at any time, but i would expect it before the placement.
Just thinking out loud again.
Alan