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

greekman re the above post yes we were at cross purposes sorry for mis-understanding

garyble, agree with you totally re. seo getting themselves into this situation where it appears that they are banking on a legal interpretation of a clause in the jv with sphere rather than something crystal clear. it also appears that they are gambling on sphere/biotec not being prepared to take it to arbitration. it doesn't strike as the best way to "do" business especially when you are months away from going bang.

also, the rns stating that the fund raising was nearly completed. what a crock of shit!! the fund raising is nowhere near being completed. the fund raising could fall flat on its face if shareholders decide to not take up the open offer; that's a million miles from being completed.

Woodie,

No problem whatsoever.

With a spread now of over 10% no wonder no one is tempted to buy.
I wonder how many have sold, just to get sufficient cash to buy their alloted number of shares at .8p.
Makes sense if you don't have any spare cash or don't wish to get in cash deeper.

greekman- if u sell now you will not get allotted shares entitlement

Apologies if I've missed the info, but does anyone know the Record Date for determining one's entitlement to the 3 for 5 offer ?

Thanks.

Alfa.

alfalfa I was told by Hargreaves Lansdown end of today

Robinhood,

Surely if one had a million shares and no cash, one could sell say 400k shares and take up the offer of 360k shares at 0.8p.

Bosley,

If they already have 1.35bn {11m} firm placing and 600m on open offer, IF the open offer is not taken up does that affect the firm placing?

Thanks dawall.

Alfalfa/dawall
Expected timetable section of the RNS says "Record Date for the Open Offer -- close of dealings on 6 October"
If the RNS is correct it was last friday, not today.

funny that... 1 million shares a year ago wud have been worth a bit of money. Today u can almost buy them within ISA allowance of tax year 06/07

What will happen of the SP goes below the offer price over the next few days as it my well do? Who will take it up then?

Tony - yes I've finally found the date. Thanks.

Alfa.

garyble

"
Shareholders should be aware that if the Resolutions to be proposed at the EGM
are not passed and Admission does not take place, the net proceeds of the Issue
will not be received by the Company. If Admission does not take place, the
Company's cash requirements would be likely to exceed the amount available under
its existing overdraft facility with Barclays Bank PLC by the end of November
2006 and, in any event, this facility would be subject to immediate review and
potential withdrawal. In addition, under the terms of the current funding
granted to the Company, certain lenders have the right to demand immediate
repayment of outstanding amounts of 0.9m due by the end of November 2006, which
the Company would not be in a position to repay.



The Board considers that, in this scenario, they would seek to agree new
facilities with an appropriate lender and/or seek alternative means of funding,
such as convertible loans, asset-based finance or supplier financing. However,
the Board believes that any such facilities or loans, on the assumption that
such facilities or loans could be agreed, would be on significantly restrictive
terms and may necessitate the Group undertaking to effect certain actions and
grant certain rights to the lenders. In these circumstances, the Board believes
that the Group would not be able to continue the development of its intellectual
property portfolio to commercialisation in a manner in which would allow the
Group to retain all of its key staff and intellectual property rights. The Board
consequently believes that any such arrangements would not be in the best
interests of Shareholders. Unless funds are received pursuant to the Issue or
unless the Company obtains further funding, there is a material risk that the
Company will not be able to meet its debts as they fall due and will become
insolvent."

that is the impression i get.

I think its good of SEO to let private investors in on part of this offer.
How many times have you been part of a company that have needed more cash and they only go to institutions and left the small invester out.
Thank you SEO i will be taking my allocation up.

Well if you can't get institutions to buy your shares then who else do you have top turn to Jimward? Exactly - YOU. I wouldnt say its good of them id say its desperate - if you have any sense then dont take up any and leave the boat that sunk a long time ago.

Small point.
Comparing SP of 0.8p and Offer price of 0.8p don't forget dealing costs. There are none if you buy under the offer.

Tonyrelaxes - If the EGM votes against the motions, our money will have to be refunded, I assume, like any conditional application to a fund-raising if the conditions aren't met.

Age Of Reason may or may not be part of the Firm Placing, but they also have rights under the Open Offer on the same 3 for 5 basis as everyone else. I think it is highly material given the beneficial interest of their shares on both counts - Firm Placee and Open Offer intentions.

I will email SEO and ask this now. I may even ask FSA what their opinion on fair disclosure is on this issue.

Jimward - agree, wish it was a higher proportion available to us to reduce the dilution further to nearer, say, 25% only. Can't do the maths quick enough to work out what proportion of the 2.075bn shares whould need to be on Open Offer for that level of diultion. No doubt someone can, as an academic if fruitless point.

sd

Issue: Open Offer

Ratio: 3 for 5
Subscription price: 0.8p
IG Deadline: TBA
How will this effect your position?

Standard positions

On the ex date standard positions will have a position in the rights booked onto the account at the above ratio at a level of 0. These rights are NOT tradable in the market.

Clients who are long will have the option to:

To do nothing. The entitlement will lapse.
To take up the entitlement.
A decision must be made by the IG deadline.

The default is to lapse the entitlement.

Clients who are short will have the option to:

To run to expiry and risk being taken up against.

Positions with Stops:

Positions with stops will have their positions closed based on the close of business price on the 09 October 2006. A new position will be opened at an adjusted level and size to reflect the above terms. The monetary risk of the trade will remain the same.

Please note that the information provided is preliminary and could be subject to change.

do you hold SEO tony?