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

Bas
The Board will at the EGM - that will not be until November by which time anticipated announcements (see Alans past posts) will have happened.

I'm with you,Tony.
The board have timed all this to expect a comfortable ride at the AGM. they will not get one, but it will be a lot less heated by then, with perhaps a touch of celebration about it.
Alan

'If a Qualifying Shareholder does not take up his Open Offer Entitlement his
interest will be diluted by 66 per cent. Furthermore, even if a Qualifying
Shareholder does take up his Open Offer Entitlement his interest will be diluted
by 46 per cent.'

dilution maybe, but now its settled .8p will soon be a distant memory and a price to remember. 10 or 20 bagger in a year?
just need to work out where to move 5k from to take this up.

No contracts, no progress mentioned that I can see towards getting contracts, problems with Biotec and Sphere including the risk of legal action, massive dilution, no changes in management except to add to the wage bill and they expect us to bail them out of the mess they're in.

I wouldn't mind helping to bail them out if I could see light at the end of the tunnel - but they've said nothing that convinces me there is any light. and the Sphere /Biotec issue makes any less likely than it seemed before the RNS!

Just worried that sweet F.A. on orders is going to happen now until EGM has taken place and finances have been sorted out

What happens if the SP drops below 0.8p?

Ob , nobody will take up the rights because you could buy them cheaper in the market

I think the legal stuff about SPhere was a touch of CYA. Not overly concerned by that, as it had to state that legal position is unclear, they always are!!
Not concerned too much by dilution. I will settle for 54% of what i believe to be coming, rather than 100% of FA.
As for orders before EGM. I expect we will see details of them well before then.
Could be very wrong. DYOR.
Alan

Just skim-read full RNS (thanks Oblo). Lots to digest and discuss this week.

What happened to the Golden Share in BioTec?
I thought it allowed SEO to get their own way on decisions requiring a "simple majority". Trading and Contracts fall within this category - larger majorities are only required (under UK Company Law) for more fundamental things affecting Company administration and ownership.

maddoctor - thats what I'm thinking. So shouldn't they have set the offer lower to be more sure that doesn't happen? If it drops below 0.8p we're back to square 1 - no financing!

I don't like the suggestion of a rift between SPhere & SEO over Biotec but I suppose it could be said that for any company in a joint venture, there is always a chance difficulties will arise.Let's hope that it can be sorted without another BPRG type farce.

I do like the part where SEO state what they would use part of the fundraising for:- "to meet the final stage payment of 1.6m due in June 2007 to EKI for the Biotec Acquisition" - are they saying with confidence that the funds will last until June 2007?!

This bit made me smile:-
LONG TERM INCENTIVE PLAN ('LTIP')

The Directors believe that it would be in the best interests of Shareholders to
set up an LTIP to ensure that Martin Wagner and Clive Warner are appropriately
rewarded if the Company achieves certain goals. The Company is therefore
intending to prepare such a scheme which it aims to put in place at the earliest
possible opportunity. A further announcement will be made by the Company at the
appropriate time.

Should it not read "It would be in the best interest of the Directors if they could say something to please the Shareholders"?!!

I will continue to support SEO but, I have to say, this IS their last chance (bit of an obvious statement that really!)
kim

Philip Lovegrove and Ian Balchin have pleged to take up their offer allocation.
I wonder if Age of Reason will similarly agree? What is the effect of them not doing so?

I was puzzled that not all of the directors would be subscribing for theit maximum allowance of shares !!

Does not inspire confidence

From KimOldfield

This bit made me smile:-
LONG TERM INCENTIVE PLAN ('LTIP')

The Directors believe that it would be in the best interests of Shareholders to
set up an LTIP to ensure that Martin Wagner and Clive Warner are appropriately
rewarded if the Company achieves certain goals. The Company is therefore
intending to prepare such a scheme which it aims to put in place at the earliest
possible opportunity. A further announcement will be made by the Company at the
appropriate time.

as an observer it made me smile too KimO

But it also made me incredulous. The Company's "certain goals" should be to get rid of these 2, i.e. "rewarding" them with a legal minimum 1 week a year-service redundancy cheque. If they stay on, any shares they get for the foreseeable future should be out of their own pocket

Totally and utterly unbelievable and greedy comment that underlines the true management here. It doesn't just take the biscuit it takes the whole tin

BHunt
The only Directors with shares (last full year A/cs) were Lovegrove and Balchin so only they can have something to accept and subscribe for.

Do Sphere have a BB on any site anyone know, would like to read what their investors have to say?

Of course the RNS leaves one major question unanswered;
Who is going to organise the MAM coachtrip to Southampton, so we can all sit at the back and throw empty beer tins at the directors???
;-)
Alan