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

So they just squeaked home with about 10m shares of the open offer spare not required to be placed. Hardly a resounding success, but fair enough in the circs of a good many PI's being roundy PIssed off with SEO.

Anyway the full 15.8m raised, so we can now proceed to contract on all those mystery loi's - or should I say lol's?

stockdog - Don't forget that costs are 1.4M so max of 14.4M is available.

alfalfa - I know, just referring to the gross raise, thanks.

SD - Unless I am missing something I don't see your "just squeaked home".

The shares have all gone!

Albeit some shareholders didn't take up about 1.1million's worth of shares that have been allocated (snapped up?) by the Institutions who had already paid 11million.

Therefore SEO get every penny they asked for. A resounding success?

Now for Monday....

And on Monday, hopefully, we will know what the Institutions knew (or were told) at their private presentations after which they paid up their 11m and keen to get a further 10% today.

They had better make this 15m the last cos I for one will not be putting my hand in pocket to save them again! Q.

Word deleted by Moderator.

tonyrelaxes - if existing shareholders had subscribed for 10m shares less, it would have ben undersubscribed at less than the full amount - 10m out of 600m open offer is a small margin to cover by IMO.

Instis weren't "keen to get a further 10% today", they were obliged to pick up what PI's did not want - get real.

However, as you say they are home and dry with full raise achieved. So onwards and upwards (let's face it, there ain't much room on the chart for the other direction!)

SD
Institutions are only hard nosed, self serving, organisations with no sentiment and they were not, as you say, "obliged to pick up" a single share or spend a single penny.
But they did.
And to the extent of 11m - now 12.1m.

That is what I call 'getting real' !

Now to find out why ...

I'm with Tony on this one.
Further we can now write going bust out of our forecasts. After all, the money is raised subject to the vote, which is now a foregone conclusion. Nobody is going to buy more shares under the offer and then vote against the offer, so perhaps SEO can now get on with revealing detail and making us all as rich as creosote.
I hope so.
Alan

May be nowt, but........
Just been on the SEO site and on the home page it talks about the GS agreement with Asda. Can't remember if it ever said the exclusivity with Asda would be waived on first commercial installation, as all the RNS have said, but it now says the exclusivity has been waived, not will be.
Like i say, probably nowt..........
alan

Alan,

As I remember it, it did previously state WOULD be waived, but the word HAS is certainly a big difference. Could be yet another detail confirmed at the EGM.
So yes may be nowt but???

so they have their (our!) money - now what?

I hope they have it in a high interest money market account Sellsell; should make enough to pay for the tea & biscuits, plasters and bandages for the EGM!
kim

I'm off to sunnier climes shortly so will miss all the fun over the coming days. I have taken up the open offer despite my doubts in the future of SEO.

Before I go, Alan says 'Further we can now write going bust out of our forecasts'.

Depends on how long range our forecasts are , Alan. The fundraising will only delay going bust unless the management pull their fingers out and start behaving like businessmen.

Might I suggest we form a shareholders group to attempt to monitor their efforts? Must have enough of a shareholding between us to have some clout and access to what goes on over the coming months.

Agree with oblo in that SEO's management have now to deliver and quickly, not several months down the line after several further confusing RNSs. I for one will be disappointed if there is no announcement of deals on Monday and a detailed forward plan for roll out and Starpol / Greenseal volumes. They are in the last chance saloon and quite frankly I think they are lucky to be there. They won't get another chance at fund raising. Hopefully they will bring in a new face or 2 that can get things moving quickly and some one who understands new technology role out. Hopefully it can also happen before some decides they want to take out SEO on the cheap.

it would be good if someone could make the point about the vagueness of a typical seo rns.

I know. A shareholders RNS along the lines of;

A company that may or may not be a packaging company has today, or perhaps in the future as soon as last year been accused of a number of very precisely vague RNS. This is / was / will be in the region af alot of RNS.
We the shareholders (though not neccesarily of SEO) have emotions about this and we may express them at some point in the future. We have recently signed Letters of Intent which will be signed next month to throw unspecified fruit at the board, the quantity of which will be released when we can be arsed.
By the way, spare a few coppers for a cup of tea, Guv.
For more information you can ask whoever you like. We aint gonna tell you.
RNS Ends.

Far too precise - you mention such concret items as emotions, you mentioned fruit and finished with an End - needs to be more vague to qualify as an SEO RNS.

I expect nothing more than:

"With the passing of all items proposed, we have now overcome a major obstacle to SEO's path to commercialise key products, for which there is keen interest by major global players. We can proceed to finalising contracts refered to in the RNS of 9th September, subject to agreement by Biotec and Sphere".

RNS Number:*****
Stanelco PLC
03 November 2006

Stanelco plc ("the Company")


The Company wishes to report that they appreciate the money and will continue to spend it. No further information will be given until it has run out.

Enquiries:

Please do not bother us


02380 867100


This information is provided by RNS
The company news service from the London Stock Exchange
END