Cancellation Of Securities

 

TIDMPLNT 
 
RNS Number : 2445W 
Plantic Technologies Limited 
16 November 2010 
 

 16 November 2010 
 
          PLANTIC TECHNOLOGIES LIMITED 
 ("Plantic" or "the Company") 
 
    CANCELLATION OF PLANTIC SECURITIES IF SCHEME OF ARRANGEMENT IS APPROVED 
 
Plantic (AIM:PLNT) announces today that it has requested AIM to cancel the 
admission of Plantic's securities if the share scheme of arrangement pursuant to 
Part 5.1 of the Corporations Act 2001 (Cth) and announced on 29 July 2010 
(Scheme) is approved. 
If the Scheme is approved by the Supreme Court of Victoria, Plantic will 
instruct Computershare Investor Services PLC (Depository) to terminate the 
Depository Interest Deed with effect on Monday 29 November 2010.  This will be 
effected as follows: 
(a)          if the Scheme is approved by the Supreme Court of Victoria on 
Friday 26 November 2010, Plantic will inform the Depository on that day that the 
Scheme has become effective; 
(b)          on Friday 26 November 2010, the Depository will give one day's 
notice to Depository Interest Holders of termination of the Depository Interest 
Deed; and 
(c)          the Depository will terminate the Depository Interest Deed, which 
we expect to occur on Monday 29 November 2010. 
Termination of the Depository Interest Deed will mean that Plantic's securities 
will cease trading on AIM. 
It is a prerequisite to the Supreme Court of Victoria approving the Scheme that 
the resolutions to approve the Scheme and to cancel admission of Plantic's AIM 
securities are passed by the requisite majorities of votes cast on the 
resolutions at the share scheme meeting (Scheme Meeting).  The Scheme Meeting 
was announced on 11 October 2010.  Notice of the Scheme Meeting was given to 
security holders on 14 October 2010, the same date that the Scheme Booklet was 
despatched to security holders.  The Scheme Meeting will be held on Wednesday 17 
November 2010. 
The cancellation is conditional on the Supreme Court of Victoria approving the 
Scheme.  If the Supreme Court of Victoria does not approve the Scheme, Plantic's 
securities will continue to trade on AIM as normal. 
For further details about Depositary Interests and the relationship between the 
Depositary and Depository Interest Holders, see the Scheme Booklet. 
FURTHER INFORMATION: 
 
Plantic Technologies Limited 
Brendan Morris, Chief Executive Officer                                      +61 
(0) 3 9353 7983 
 
Matrix Corporate Capital LLP 
Stephen Mischler 
        [phone] 
Tim Graham 
         [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 56 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 
   END 
 
 MSCGLBDBIUBBGGL