Acquisition

RNS Number:1719O
Stanelco PLC
31 July 2003



Stanelco plc

Acquisition of Adept Polymers Limited and the issue of new shares

Stanelco plc the RF (radio frequency) applications group is pleased to announce
that that it has concluded the purchase of Adept Polymers Limited.

Stanelco has purchased the entire issued share capital in Adept Polymers Limited
together with the loans funding the business for the issue of 10,000,000 (Ten
million) ordinary shares of 0.1p in Stanelco plc at 5.00p (five pence) per
share. The net liabilities acquired are #296,000 and the debt acquired has a
value of #632,000 giving a total asset acquisition value of #336,000. The total
value of the consideration has been independently valued at #335,000. Stanelco
intends to issue up to 3,000,000 (three million) further ordinary shares of 0.1p
in Stanelco plc for the purchase of various leased assets currently used by
Adept Polymers Limited.

Adept Polymers Limited is a company that specialises in the formulation and
manufacture of biodegradable plastic based on polyvinyl alcohol. This material
has a wide range of applications from liquid detergent capsules to laundry bags
that dissolve in the wash.

It is intended that Graham Whitchurch, a Director of Adept Polymers Limited will
join the Stanelco Plc Board in due course.

Chief Executive, Ian Balchin said, "This acquisition gives Stanelco access to
the considerable expertise and intellectual property that Adept Polymers has in
making water-soluble polymer films which is directly relevant to our capsule
making venture, InGel Technologies Limited. In addition we are now able to offer
customers the benefit of material supply in combination with leading edge RF
sealing technology to open up new application areas. The deal is a good one for
all group companies and we extend a warm welcome to Adept"

Contact Details

Ian Balchin (Chief Executive)
Tel [phone]
Stanelco Plc
Systems House
Brunel Way
Segensworth East
Hampshire
PO15 5SD




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