Annual General Meeting & Trading Update

 

TIDMSEO 
 
RNS Number : 9897N 
Stanelco PLC 
22 June 2010 
 

22 June 2010 
 
Stanelco plc ("the Company" or "the Group") 
 
                    Annual General Meeting and Trading Update 
 
 
 
The following statement will be made by Stanelco's Chairman, John Standen, at 
the Company's Annual General Meeting being held today at 10.30am: 
 
"The Board is pleased to report that, in the current financial year to date 
(since 1 January 2010), sales growth in both its Bioplastic and RF Technologies 
divisions lies ahead of the market's expectations. 
 
Progress continues to be made in developing significant business opportunities 
through Biome Bioplastics, the Company's wholly owned bioplastic business. The 
Board also reports that Biome's composting trials with a major American supplier 
to the food processing market, as highlighted in the Company's recent Interim 
Management Statement dated 29 April, have been completed successfully and that 
this opportunity is now moving into a commercial scale-up phase". 
 
The Group recently completed a Placing and Open Offer raising its maximum target 
amount, approximately GBP2.8m (net of expenses). This supplements existing cash 
resources of GBP2.3m as of 31 May (includes 50% of the Biotec 50/50 JV's cash 
balance). 
 
A presentation to be made to Stanelco shareholders at the AGM will be posted on 
the Company's website (www.stanelcoplc.com) following the meeting.  Shareholders 
should also note that Stanelco plc is to be renamed "Biome Technologies plc" 
upon its forthcoming admission to AIM on or around 13 July 2010. 
 
 
                                    - Ends - 
 
For further information please contact: 
 
+-----------------------------------+-------------------------+ 
| Paul Mines, Chief Executive,      | Tel: [phone]       | 
| Stanelco plc                      | 867100                  | 
| Sue Bygrave, Group Finance        |                         | 
| Director, Stanelco plc            |                         | 
|                                   |                         | 
+-----------------------------------+-------------------------+ 
| Jonathon Brill/Caroline Stewart,  | Tel: [phone]    | 
| Financial Dynamics                | 3113                    | 
|                                   |                         | 
+-----------------------------------+-------------------------+ 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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