bosley
- 20 Feb 2004 09:34
bosley
- 29 Jan 2005 17:08
- 629 of 27111
good point tipton. company not quite on its feet , dynamic , cutting edge technology, one or two problems, i suppose its plausible.eric, ths rights issue was sometime in 2003, i think , late on, not too long after i first got in.
THIS IS FROM JANUARY 2004. DO NOT PANIC. ITS TO SHOW ERIC THAT THERE WAS A RECENT RIGHTS ISSUE BECAUSE HE SAID HE COULD NOT FIND ANY NEWS ABOUT IT. OKAY.
(sorry about shouting, i just didnt want anyone to think this was a recent rns.)
Stanelco PLC
15 January 2004
For Immediate Release
15 January 2004
Stanelco PLC ('Stanelco' or 'the Company' or 'the Group')
Audited Results for the year ended 31 October 2003 and details of Rights Issue
The Directors are pleased to announce the audited results for the year ended 31
October 2003. At the same time the Directors are taking the opportunity of
raising approximately 1.6 million, after expenses, by way of an underwritten
Rights Issue (save with respect to the Committed Shares which represent 0.05 per
cent of the issued share capital of the Company) on the following basis:
1 New Ordinary Share for every 12 existing Ordinary Shares held at 3p per share.
The Rights Issue of 58,527,479 New Ordinary Shares represents 8.3 per cent. of
the issued share capital of the Company.
A Circular dated 15 January has been sent out to all Qualifying Shareholders
(subject to certain exceptions) and is available from the offices of Eversheds,
Senator House, 85 Queen Victoria Street, London EC4V 4JL for a period of one
month from the date of the Circular. Copies of the Circular have been submitted
to the UK Listing Authority and are available for inspection, as from the date
of the Circular, at the UK Listing Authority's Document Viewing Facility
situated at The Financial Services Authority, 25 The North Colonnade, Canary
Wharf, London E14 5HS.
Background to and reasons for the Rights Issue
The Group has concentrated significant effort on being able to apply its RF
technology to sensitive polymeric materials in order to weld and form them
without modifying their molecular structure. The success of this work has opened
significant market opportunities and the Group is concentrating efforts on four
of these:
-Rapid production of foamed starch packaging, initially for organic food trays;
-Edible food sachets for packet soups, ready meals, bread mixes, and pre-weighed
portions;
-Capsules/pouches of liquid and/or powders in water soluble sachets for
applications such as detergents and other chemicals; and
-Edible softgel capsules from gelatine alternative materials for healthcare
applications such as pharmaceuticals and nutraceuticals.
The net proceeds of the Rights Issue will be used substantially to complete the
development and to commercialise these technologies through licensed technology.
hope that helps, eric.
EWRobson
- 29 Jan 2005 18:23
- 630 of 27111
bosley
That answers the question re rights issue. It seems to have raised about 1.5m. Net funds at end of April 2004 were about 850K so that there had been a fair cash burn. Add the 400K from Cardinal Health. But they could be getting quite low and have the cc to settle. So it is feasible that we see another exercise like the last one to raise something like 1.5m but this time at a much better price: if 7.5p that would be only 2M shares or a 25% dilution. Nothing to get worked up about. The faster they get to the market the more money they will need but the faster the sp will grow to compensate. Not a problem! (By the way, bos, could you answer my question on the AGL thread please?)
Eric
Biscuit
- 29 Jan 2005 18:51
- 631 of 27111
I believe they also raised 1m through some oprions been excersied and sold to Andy Brough (Fund Manager). I read he's bought 29m shares at 4p which raised roughly 1m.
andysmith
- 29 Jan 2005 23:09
- 632 of 27111
Just to clarify, the RF sealing technology is NOT anything to do with the biodegradable films, that is a completely different string to the bow.
RF sealing saves costs by allowing thinner films to be used,it uses less energy to manufacture finished product and the technique also facilitates less product waste as it apparently seals through most "product contaminants" e.g oils from the products themselves reduce seal performance and create waste. In other words, less spend on packaging materials, less processing waste, less energy costs and in future less packaging waste taxes which would be borne by the those selling the final product which is an additional interest for the retailers. Progression of all PET packaging should increase rapidly with this technology, it has been held back by seal performance limitations. All PET packs are cheaper and contain no chlorine unlike many current meat packs.
I hope this helps.
zul187
- 31 Jan 2005 09:12
- 633 of 27111
Stanelco PLC
31 January 2005
31 January 2005
Stanelco plc
Stanelco signs Agreement for innovative New FrogPack Packaging
Stanelco, the RF (radio frequency) applications group, is pleased to announce a
new product line that it has developed and patented. Stanelco's FrogPack product
is a simple, new, patented packaging format. It is lightweight, highly impact
resistant, low cost and greener than the conventional packaging it is designed
to replace, such as padded envelopes and boxes with polystyrene inserts.
Aquasol Ltd, the wholly owned subsidiary of Stanelco has signed its first two
distribution agreements for the packaging product which will be manufactured
under licence. FrogPacks will now be available from Network Packaging Ltd and
Lightning Packaging Supplies Ltd as distributors for the new product.
FrogPack incorporates Aquasol's Shock Absorbing Arcuate Panel (SAAP) technology
into the design, providing considerable added strength into the packaging.
FrogPack also has the advantage of being tamper evident. FrogPack is intended
to be used to protect items such as electronic components, car parts and compact
discs. Further information about FrogPack can be viewed at
www.frogpack.com
.
Ian Balchin, Chief Executive of Stanelco commented:
'We are very excited by this new packaging product which opens up a new and
separate revenue stream. The initial reaction has been very positive with first
orders already received by distributors. Although in its early stages, following
its launch, royalty revenues from FrogPack orders are expected to flow to
Stanelco shortly. We are continuing to identify additional distributors for the
product both in the UK and worldwide and, if successful, we would expect to see
an immediate impact on our business.'
In addition, Stanelco's traylidding trials with food manufacturers and packaging
companies continue to progress well. In some instances trials have completed
and are awaiting results of shelf-life stability tests which are a pre-requisite
for products being placed in store. We will provide further updates in due
course.
- Ends -
For further information please contact:
Ian Balchin, Chief Executive
Stanelco PLC
Tel: +44 (0)2380 867100
Jonathon Brill/Billy Clegg
Financial Dynamics
Tel: +44 (0)20 7831 3113
Gary Lewis,
Network Packaging Ltd,
Tel: +44 (0)121 501 3666
Martin Taylor,
Lightning Packaging Supplies,
Tel: +44 (0)1707 635343
Notes to Editors:
Stanelco was founded in 1953 and is a world leader in the development of radio
frequency technologies for processing polymers for edible and packaging
applications and the design and manufacture of optical fibre technology,
induction heating and dielectric welding equipment. The Company's current core
business is the manufacture of optical fibre using Radio Frequency (RF)
technology. Stanelco has been applying its technology to other markets. Current
developments include biodegradable air cushion packaging, sealing of low-cost
conventional plastics for food packaging, water-soluble detergent capsules,
foamed starch trays, edible sachets and waste packing.
FrogPack is a trademark of Aquasol Ltd.
dclinton
- 31 Jan 2005 09:19
- 634 of 27111
All they need now is a decent website designer :-)
AdieH
- 31 Jan 2005 09:35
- 636 of 27111
Just got back in after taking profit last week... Seems to be good news after good news, wonder if we might hear about CC soon...
EWRobson
- 31 Jan 2005 09:40
- 637 of 27111
Any thoughts on the financial impact of today's announcement? Must be sizeable market. Licences so revenue will go through to the bottom line, more or less and doesn't take eye off the main ball.
Eric
Biscuit
- 31 Jan 2005 09:47
- 638 of 27111
Would be good if they could get an online retailer such as Amazon onboard with the new packaging.
Biscuit
- 31 Jan 2005 10:07
- 640 of 27111
Sometimes I suprise myself!
AdieH
- 31 Jan 2005 10:42
- 642 of 27111
Looking good again di... Even though no figures have been given, lots of buys wonder if well see a tick up by 1p by the end of the day.
angi
- 31 Jan 2005 10:57
- 643 of 27111
There are lost of other online retailers who I think would be delighted to hear from you Biscuit, how's about a mail merge.
stockdog
- 31 Jan 2005 10:58
- 644 of 27111
stockdog
- 31 Jan 2005 10:59
- 645 of 27111
Especially ASC!
AdieH
- 31 Jan 2005 11:15
- 648 of 27111
Di, in for longer term now like you 18p target price for me, lets hope the CC doesn't have too much of an affect on price... Have you noticed BTG price move recently, pity I missed out...