Please post Date, Time, Heading of any news released in any official format by Stanelco than you deem relevant to above proposed report.

Thanks in anticipation.

Greekman.

I'm a bit amazed here.

Investing in any company is inherently risky and every day you have 2 choices, to hold or to sell. There is always a time and a place to sell a holding. SEO has been going down for so long people should have been out long ago IMO.

On a legal footing, if there was anything to investigate, a body (FSA or whatever)would be doing so. For an RNS to paint a rosy picture is a given.

I have a certain amount of sympathy, but you cannot blame the company for your loss. It's that simple. You were the ones who held on and every time you find folk on a BB carrying heavy losses this always comes up. It's always somebody else's fault.

I'm afraid the fault is only ever to be laid at the door of the investor who put his/her money into the venture to begin with.

Al

Greek,

Personally I feel most of the points are unlikely to lead anywhere. On Greenseal, no promises were made on deals and it was actually ASDA who said they expected to convert several hundred machines - cant blame that on SEO. Things were generally hyped up, but no promises made.

However, the two points I feel could be justification for a complaint relate to:-

1) the MMF's - the letters of intent and contracts being finalised on which we heard nothing more!

2) The stated use of proceeds in the open offer document - i.e.

'Specifically, funds raised will be used for the following: - to ensure successful completion by either Biotec, or in accordance with the provisions of the Joint Venture Agreement, Stanelco of at least the first two manufacturing facilities in the USA, which will cost approximately 2.8m each, for the production of starch-based resins, including Starpol materials, developed by Biotec; '

The funds have not been put to the use for which they were raised from investors.

I would concentrate on that for starters.

Al,

The FSA or SE aren't going to investigate if no-one makes a complaint. I take your point about being responsible for holding on, but my complaint relates to the reasons why investors put more money into the company at the time of the open offer and has nothing to do with holding on.

I thought I was investing In two Micro Manufacturing plants in the U.S. for which the contracts were being finalised - thats what I put my money into. Where are they? It is the circumstances behind SEO saying they were building the plants, raising money on the strength of that but then not building them that I would like to see investigated.

Big Al,

As an investor for several years, I fully accept that companies can fail and I invest on the understanding that I can loose all my stake.
But companies must stick to the rules, which are there to protect both the company and the share holder.
My gripe is just that. I believe that Stanelco have not followed the rules, IE quick to release news that is SP sensitive in a positive way, but slow to release news that is SP sensitive in a negative way.
If no one complains, very rarely is an inquiry commenced.

Oblomov,

Whilst I agree it was not always Stanelco who released or/and made promises re Greenseal, they were obviously aware of the conversion roll out and progress, and as already stated, they were in my opinion slow to update the market on any problems.
Hype, yes plenty of that, imminent, on the cusp etc, etc.
There have over the last 2 years many posts inquiring why deadlines have passed and why no updates.
The main gripe I have is as already stated, We still do not know what went wrong with Greenseal. Stanelco do, so we should be informed.
Saying that, I also feel my complaint will have no effect, but I must try.

Thanks to both re your responses.

Will give it a few more days, re any further responses, advice prior to forwarding complaint.

Greek.

Points taken, Greek, and thanks for taking the time to put this together. I agree it should be done whatever the chances of achieving anything.

Regarding what went wrong with Greenseal, it might be argued that putting that information into the public domain could jeopardise any future attempt to return to the technology and commercialise it.

Morning, OB.

I did consider that re Greenseal, but putting myself into the mind of a potential purchaser, the first question I would ask is, Why did ASDA not continue with the take up? as no doubt any company looking at Greenseal would have made very diligent inquiries, and be aware that there had been problems.

Hi guys. Yeah, didn't wish to get everyone's back up, but simply wanted to maybe put some perspective on it.

We have all been in this situation, but I for one learnt many years ago that my energy is far better spent forgetting a disaster, for whatever reason, and focusing on recouping the loss by hunting for prospects that would achieve that goal. Stay positive!!

As for SEO in particular, we are all quite aware how they have fared. I've traded them at times ove rthe past couple of years (both ways!). I know many were bearish a long time ago and it could be argued they saw the light. As far as the FSA, etc go, I'm sure investigations would be well underway if irregularities were evident. Also, all companies play up the good and play down the bad. I could go on re-iterating the bear points that were being shouted from the rooftops for some time.

At the end of the day, SEO simply joined a long list of failed companies. ;-))

Morning Big Al, and all.

I do agree that companies shout up the good news more than the bad and I don't blame them for that, but there is a difference between releasing the bad news in a quieter form to not releasing it at all. Also whatever the news, the facts should not be expanded upon to the extent of misleading.
I do not go looking to complain against a company just because I have lost money on the share, in fact this is the first (and hopefully the last) company I have looked to complaining against.

As to getting anyones back up. No problem, never even considered it. Your post and any others are welcome.
It's those posters who get personal and insulting that bug me.

If we ever reach the stage where we all agree and have the same viewpoints, then these threads will hardly be worth reading.

Note, the complaint is being sent to.

Regulatory Complains
Trading Services
London Stock Exchange
10 Paternoster Square
London EC4M 7LS.

This address took some digging out and I finally contacted the LSE for advice.
They informed me that the complaint should be in letter form, hence the none E-Mail approach.
Just in case anyone was curious.

Quick update.

Report is now ready, after a bit of tweaking and a lesson from my son in grammar.
There are no alterations of any significance from my earlier post of the draft.

I have decided to hold fire for a couple of weeks due to the research I have done re the Biotec issue that has been of interest of late. I have not found anything that has not been mentioned on this and other threads/sites, and I am not going to state as some have that, We are heading for a big sp rise, or its another load of bull. I am not going to second guess whats happening.
But I am willing to give the possibility of credence a chance.
If something good regarding the sp comes from this within 2 weeks, I may look for a longer delay, but whatever happens, the report will be submitted, either in 2 weeks time (if no news) or slightly after with good news.
Whenever the report is submitted, I will update re day sent.

Open to all opinions on the above.

Cheers Greek.

Greekman, so all the stuff being posted on other boards re output, walmart visits etc, you have managed to verify with your own research? If so then this surely will help the share price to recover once the news is officially released.

Hi Sellsell,

Please read my post again. It states that, "I have not found anything that has not been mentioned on this and other threads/sites, and I am not going to state as some have that, We are heading for a big sp rise, or its another load of bull. I am not going to second guess whats happening.

It clearly states that I AM NOT GOING TO SECOND GUESS, that surely implies that I have not been able to verify anything.

Also it states," But I am willing to give the possibility of credence a chance".

Again this surely implies that I don't know what is/ true, lies or just plain spin.

So yes, I have done as much research as possible but cant verify anything.

Not having a go at you, (if my post comes over that way I apologize in advance, it is often difficult to purvey attitude in print) but it is difficult to put my views any clearer.

Regards Greek.

Please Help.
Sorry to go off thread but I have received an E-Mail via Moneyam, from a user name procroft.
The E-Mail stated, To reply to this email you will need to go to the MoneyAM Bulletin Boards and click on the name of the user that sent you this email and then click the 'message button'.
But when I go onto the Bulletin Boards, procroft does not appear on any pages I can find.
Anyone help.

Quite possibly "procroft" has not registered an email address for the messaging system to forward a message to.

Dunno, but hopefully that's useful

Big Al,

Thanks, obvious really.

Procroft, the appears to be no way to contact you except via this thread.
Please see my previous posts, which I feel explains my feelings.
I do value your suggestion as all who have contributed have assisted in my complaint contents, in one way or another.
But to re-iterate.....Enough is enough. I feel we have been very patient with the management (mainly the old management) but a stand must be made. Deadlines have been passed many times with no or very late updates, Starpol, Cig Filters, Greenseal to name but three.
As previously said, I was willing to give them another couple of weeks, re good solid news. The time will be up Friday.
Thanks again for you message.
Greek.

greekman

It's just a thought, but, do you think that if you were to forward a copy of your complaint to SEO, prior to posting to the FSA, asking for clarification on the relevant points, might get you some satisfaction. Or have you already done so.
Good Luck with your quest.
And thanks for making the effort.

Hi, Patisear,

It did cross my mind but decided not to for 3 reasons.

1 Several previous E-Mails from myself and others have been ignored.
I have never requested sensitive info, only clarification of details promised via dead lines. So I doubt if I did forward a copy,they would reply.

2 If they did reply, I feel it would be the usual spin, fob of updates.

3 If they took my report seriously, it would pre warn them of a possible call from the regulating authority.

But thanks re your post.

You may not have a choice Greekman!
Not certain of the FSA approach to this area, but certainly in retail areas they are very clear that they will not investigate anything until the complainant has put a formal written complaint to the alleged offender and allowed 8 weeks for a the offender to respond and offer (where appropriate) either settlement or justification.
Only when the complainant and offender disagree over justification and settlement will the FSA intervene, and then only if they consider it a breach of their rules. If not they will pass it to another of the regulatory bodies such as the FSO.
Might be worth checking if you need to complain to SEO first.
Alan

Surely it is the Stock Exchange rules that have been breached. SEO are not a 'Financial Service'. Aren't RNS's issued in order that the company complies, as a fully listed company, with the rules of of the SE?

Cant see why the FSA would be interested - SEO haven't supplied a 'financial service'.

From the FSA website:-

'Who we regulate


The Financial Services Authority (FSA) is an independent organisation responsible for regulating financial services in the UK. '

Possibly right Oblo, but the FSA would have an interest as they regulate the SE. It could also be argued that they provided false information, or didn't provide information on which financial services decisions were made.
Murky, but I still think any regulatory bodies first question to Greek will be whether he has addressed his concerns to SEO themselves.

Hi Alan,

Yes you are correct if it is complaints that are personal to an individual or to a body and do not include possible abuse of market rules. So if these rules are breached, every shareholder is effected.
All I am in fact doing is bringing to the attention of the regulator a possible breach of their (the market)rules.
As the regulatory authority are the market regulating body, they will be able to judge if these rules have been breached where as a layman I am not.
As I consider these rules may have been broken, I have been advised the correct complaint procedure is directed to Regulatory Complains Trading Services London Stock Exchange. I received this info by E-Mail from the LSE.

Initially I did think (wrongly) that it was to be made to the FSA, but several posters put me right. Following this I carried out quite a bit of research via the LSE.

If nothing else it is proving a learning process for myself.

No doubt if I am wrong, the regulator will soon put me right.

As a foot note... I think the possibility of my complaint leading to an inquiry is very slim. But no matter what the outcome I will keep everyone informed, ( if only Stanelco had done the same)! I may end up with a serious amount of egg on my face.

EDIT... Slow in typing, so posted the above before I saw the last 2 posts, but I think the above gives clarification.

Cheers Greek.

Thanks for clarifying that, Greek, and the time you've put in.

One thing, if the complaint is thrown out we can at least sleep more soundly in the knowledge we were not conned and the SEO management are a wonderful bunch of people after all! (*!*!*)