Execution of Supplemental Deed by the Depositary

 

TIDMPLNT 
 
RNS Number : 0457T 
Plantic Technologies Limited 
21 September 2010 
 

Regulatory News 
21 September 2010 
 
          PLANTIC TECHNOLOGIES LIMITED 
 ("Plantic" or "the Company") 
 
  COMPUTERSHARE INVESTOR SERVICES PLC EXECUTES SUPPLEMENTAL DEED TO FACILITATE 
   participation by HOLDERS OF PLANTIC DEPOSITARY INTERESTS IN the PREVIOUSLY 
                             ANNOUNCED SHARE SCHEME 
 
Plantic (AIM:PLNT) announces today that to facilitate participation by the 
holders of Plantic "Depositary Interests" ("DI Holders") in the previously 
announced acquisition by Gordon Merchant No. 2 Pty Ltd ("GM") of all of the 
ordinary shares issued by Plantic other than those already owned by it ("Share 
Scheme"), Computershare Investor Services PLC ("Depositary") has executed a 
"Supplemental Deed" in favour of DI Holders to amend the 'Deed in respect of 
Plantic Technologies Limited depositary interests' dated 17 April 2007 ("DI 
Deed").  This amendment will only take effect if the Share Scheme is approved by 
shareholders and the Court. 
To enable trading of Plantic securities on AIM and settlement of trades in the 
electronic system operated by CRESTCo Limited in the United Kingdom ("CREST"), 
the Depositary issued Depositary Interests, which are securities governed by UK 
Law, to Plantic shareholders in accordance with the DI Deed. 
DI Holders are registered in a register of Depositary Interests maintained by 
the Depositaryin accordance with the DI Deed and the Companies Act 1989 (UK). 
Each Depositary Interest evidences the DI Holder's underlying interest in one 
ordinary share in the capital of Plantic, which is registered on Plantic's share 
register in the name of Computershare Clearing Pty Ltd (the "Custodian") and 
held by the Depositary (through the Custodian) on trust for the DI Holder on the 
terms of the DI Deed. 
To facilitate participation by DI Holders in the Share Scheme, the DI Deed needs 
to be terminated and the underlying shares must be registered in the names of 
the relevant DI Holders. 
The Depositary has executed the "Supplemental Deed" to amend the DI Deed to 
reduce the notice period for termination of the DI Deed from 90 days prior 
notice, to 1 day's prior notice.  This will allow the Share Scheme, if approved, 
to be implemented quickly.  Importantly, the amendments contained in the 
Supplemental Deed are conditional upon, and the DI Deed will not be amended, 
unless: 
(a)          the shareholders of Plantic approve the Share Scheme, at a scheme 
meeting; and 
(b)          the Court approves the Share Scheme in order for it to become 
effective. 
This amendment will allow DI Holders to receive the Share Scheme consideration 
of GBP 0.08 (8 pence) per ordinary share, if the Share Scheme becomes effective. 
Notably, Depositary Interests entitle the DI Holder to the benefit of all the 
rights and entitlements received by the Depositary or the Custodian with respect 
to each underlying Plantic share, including the right to attend and vote at a 
scheme meeting for the purposes of the Share Scheme. 
Details of how to vote in relation to the scheme meeting will be provided to DI 
Holders in the Explanatory Statement and the Notice of Share Scheme Meeting, 
which are expected to be dispatched in early to mid October 2010. 
 
FURTHER INFORMATION: 
 
+------------------------------+------------------------------+ 
| Plantic Technologies Limited |                              | 
| Brendan Morris, Chief        |          [phone] | 
| Executive Officer            |                              | 
+------------------------------+------------------------------+ 
| Matrix Corporate Capital LLP |                              | 
| Stephen Mischler             |         [phone] | 
| Tim Graham                   |         [phone] | 
|                              |                              | 
+------------------------------+------------------------------+ 
| Pelham Bell Pottinger        |                              | 
| Archie Berens                |         [phone] | 
|                              |                              | 
+------------------------------+------------------------------+ 
NOTES FOR EDITORS 
Plantic Technologies is based in Australia, where its head office, principal 
manufacturing and research and development facilities are located.  In addition 
the company has a rigid packaging manufacturing plant in Jena, Germany together 
with sales offices in Germany, the United Kingdom and the USA.  Plantic employs 
approximately 65 people internationally. 
Plantic's novel polymer technology is based on the use of high-amylose corn 
starch, a material derived from annual harvesting of specialized non-GM (hybrid) 
corn and supplied by National Starch.  The unique chemical and film-forming 
properties of this type of starch allow for development of a range of 
applications across conventional plastics markets.  Plantic materials have a 
renewable bio-content of approximately 85%.  In addition to being 
renewably-sourced, Plantic materials are biodegradable, home compostable, water 
dispersible and compostable to American (ASTM 6400) and European (EN 13432) 
standards. 
Plantic Technologies has won numerous international awards for their innovation 
in biodegradable plastics.  Plantic is listed on the London Stock Exchange (AIM) 
under the symbol 'PLNT'. 
For more information visit the company's website www.plantic.com.au. 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
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