Result of Meeting

 

TIDMSEO 
 
RNS Number : 5648N 
Stanelco PLC 
14 June 2010 
 
                                  Stanelco plc 
 
                           Results of General Meeting 
 
Unless otherwise defined in this announcement, capitalised terms shall have the 
same meaning as in the prospectus (the "Prospectus") to shareholders distributed 
by Stanelco plc (the "Company") on 27 May 2010 in connection with the Firm 
Placing of 2,000,000,096 New Ordinary Shares and the Placing and Open Offer of 
806,525,320 New Ordinary Shares at 0.125 pence per New Ordinary Share. 
 
The Company is pleased to announce that at the General Meeting of the Company 
held at 10.00 a.m. today, the Resolutions set out in the Notice of General 
Meeting dated 27 May 2010 were duly passed.  Resolution 1 was passed on a poll 
and Resolution 2 on a show of hands. 
 
The number of votes cast on the Resolution put to the meeting was as follows: 
 
+--------------------------+-------------+------------+----------+ 
|        Resolution        |    Total    |   Total    |  Total   | 
|                          |    Votes    |   Votes    |  Votes   | 
|                          |    For*     |  Against   |Withheld  | 
+--------------------------+-------------+------------+----------+ 
| 1. To approve            |             |            |          | 
| (a) the removal of the   |565,524,639  |15,305,905  |  70,560  | 
| limit on the Company's   |             |            |          | 
| authorised share         |             |            |          | 
| capital;                 |             |            |          | 
| (b) the Issue of new     |             |            |          | 
| ordinary shares at       |             |            |          | 
| 0.125p per share on a    |             |            |          | 
| non pre-emptive basis in |             |            |          | 
| connection with the firm |             |            |          | 
| placing and placing and  |565,115,220  | 8,305,308  | 354,576  | 
| open offer;              |             |            |          | 
| (c) the move to AIM; and |             |            |          | 
| (d) the change of the    |             |            |          | 
| Company's name to Biome  |             |            |          | 
| Technologies plc         |             |            |          | 
|                          |             |            |          | 
| 2. To adopt the Public   |             |            |          | 
| Equity Plan              |             |            |          | 
|                          |             |            |          | 
+--------------------------+-------------+------------+----------+ 
 
*Includes discretionary votes 
 
Application has been made for the 2,806,525,416 New Ordinary Shares of 0.1 penny 
each in the capital of the Company to be issued pursuant to the Firm Placing and 
Placing and Open Offer to be admitted to the Official List and to trading on the 
main market of the London Stock Exchange, and dealings in such shares are 
expected to commence at 8.00 a.m. on 15 June 2010. 
 
John Standen, Non-Executive Chairman said: 
 
"We are delighted that we have secured our equity fundraising target of GBP3.5m. 
I would like to extend our thanks to the existing and new shareholders who have 
supported us by participating in the open offer and placing." 
 
Paul Mines, Chief Executive Officer said: 
 
"The funds raised will help us to build Stanelco (to be renamed Biome 
Technologies plc upon admission to AIM) into a leading bioplastics business 
founded on good science, excellent applications engineering and deep 
relationships with blue-chip clients. In addition, the move to AIM will align us 
more appropriately with fast developing growth businesses. We are excited about 
the future and look forward with confidence." 
 
A copy of the resolutions passed at the General Meeting has been submitted to 
the UK Listing Authority and will shortly be available for inspection at the UK 
Listing Authority's Document Viewing Facility, which is situated at: 
 
Financial Services Authority 
25 The North Colonnade 
Canary Wharf 
London 
E14 5HS 
 
Tel. no. 020 7676 1000 
 
 
ENQUIRIES: 
 
+------------------------+------------------+ 
| Stanelco plc           | 023 8086 7100    | 
+------------------------+------------------+ 
| Paul Mines / Sue       |                  | 
| Bygrave                |                  | 
+------------------------+------------------+ 
|                        |                  | 
+------------------------+------------------+ 
| Financial Dynamics     | 020 7831 3113    | 
+------------------------+------------------+ 
| Jonathon Brill /       |                  | 
| Caroline Stewart       |                  | 
+------------------------+------------------+ 
|                        |                  | 
+------------------------+------------------+ 
| Singer Capital Markets | 020 3205 7500    | 
| Limited                |                  | 
| (Financial adviser and |                  | 
| broker)                |                  | 
+------------------------+------------------+ 
| James Maxwell /        |                  | 
| Richard Savage         |                  | 
+------------------------+------------------+ 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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