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

make sure your in ERX before 25th ;-)

Good posts Oblo.

For those that are interested

The EGM is at the offices of Teather & Greenwood Limited, Beaufort House, 15 Botolph Street, London, EC3A 7QR, on 6 November 2006 at 11.00am

Once the FDA approval for Starpol 3000 is announced, and financing is in place, the contracts will follow. That's my simple take on the situation.

"build it and they will come".........

Tweenie is Kevin Costner??????????????

Anyone had the open offer letter through from HSBC InvestDirect yet? They will only let you process it online with details from letter that they post out and I have had nothing from them.

Gaz

A northern Kevin Costner???????

Verily, the mind doth boggle...........

Asda just advertised bags containing Asda shop goods on national tv!!

Are these Biocompostable bags with biocompostable packaged products inside them ?? ie Stanelco packaged ??

My penny's worth:

SEO were negotiating with inetrested parties re: MMPs, but due to cash burn and facing the possibility of insolvency, a deal was struck with the concerned parties to issue letters of intent in order to secure funding.....did the trick and have served their purpose!

Contracts were being and probably have been finalised since the issue of the LOIs, but blue bottle in the ointment/soup in the form of Sphere/Biotec dispute.....deja vu...BPRG cc!

The following is taken from page 29 of the prospectus:

"In order to move to the next level of high volume resin production to meet the demands of global retailers and fast food companies as well as other opportunities, the Directors believe it will be necessary to invest in plant and machinery to manufacture resin, which is then supplied to joint venture partners in the US, for use in their manufacturing plants. The Directors have identified suitable joint venture partners and are in advanced negotiations with a number of interested parties."

The LOIs have served their purpose BUT, as Oblo states, could be null and void, if so, IMO it is due to the SPhere/Biotec fiasco! The above extract certainly indicates that SEO will manufacture the resin and supply to the JV partners. I would certainly like some assurance that the JV partners intend to purchase SEO's resin.

Nothing from/about ADSA on TV here - but I am in the former USSR! All the news here is about Georgia and trade reprisals. Bugger, going to a Georgian food restaurant tomorrow - if it is still open! And going to eat at OBLOMOV again later in the week!!!

I believe certain SEO products/technology will be on the shelves from 1st November. I am unclear (from here) what producls and if it is Asda or Wall*Mart shelves. We shall know in a fortnight - possibly a week.

Good penny's worth Garyble.

But if the LOI's were worthy of an RNS surely their demise should be treated with similar formality - not Sylvia's usual (these days) stonewall approach to Shareholder/Investors quite valid enquiries.

Tony,

The SEO spin re: LOIs would be, the intent is still there albeit SEO will now have to take on the resin production due to Biotec JV constraints.

If all is well, the announcement of the MMPs will be combined with a statement of the JV partners' commitment to use a quantified tonnage of resin.

Just a small point - you've had your share of me of late, but LOI's dont have to be unsigned! They show intent at the time they were written. They dont have to be followed up with letters of UNintent!

Quickly glanced Tony's post at first and saw the words 'bugger' and 'oblomov' - not as bad as it seemed on second reading!

Actually Oblo (we do seem to be disagreeing a fair bit) LOI are very specific and contain the major terms of the contract and the intent is based upon that old chesnut of specific performance of certain acts, and subject to the parties agreeing the minor conditions. To my knowledge if either party decides that the letters are no longer viable, due to performance, conditions or timescale they must notify the other party(s).
I asked a legal acquaintance what he thought about LOI and he told me they were very simple (usually) and were an agreement to contract subject to due diligence, and had, in the past, been held binding where a party to the letter pulled out without good reason. His words were they are a contract to contract as soon as the parties had satisfied themselves that their signature was both legal, and defensible to their shareholders, and this was the due diligence element.
True, either side can pull out for any number of reasons and the legal stuff he rattled on about was mostly un-understandable, but LOI being cancelled does have to be communicated.
Still no wiser though, and you still may be right.
Alan

Good to see some sensible and interesting debate on this board - unlike another one I wont mention.

Letters of Intent

Alan,
Your link puts it clear and simple, but in fuller explanation than my previous post.
Also like the reiteration of a time scale.

From my post....LOI's...Not dead as they were LOI's for the sole purpose of intending to sign future agreements (contracts) if certain conditions, also already agreed are met. It would be impossible in a business sense to sign an LIO not being fully aware of the aforesaid conditions.