Stanelco Share Discussion Threads

[grax] 29/4/2010 07:53

'act so shocked' Did you have a vision of me standing back and swooning with my hand to my brow? ;-)

The shock is that they are still coming for the money when they are no longer going for the acquisition which is what they were going to need the money for.Now they just want the money with no real explanation as to why.They just want it.

[daw2] 29/4/2010 07:52

grax no can do he's saving up for his reteat in Barbados and they don't keep cheap!

[gadgie2] 29/4/2010 07:52

Happy to hold


A producer of personal care products has begun a controlled launch of a
new product, made from Biome Bioplastics materials, with a major USA retail
chain and is now planning a European launch.

· A large multinational beverage and confectionery manufacturer has been
developing and evaluating a range of Biome materials for confectionery packaging
for two years. This company is committed to progressively introducing
sustainable materials into their product range. Full scale trials are underway
into two main application areas, one of which, for secondary packaging, is
expected to result in substantial sales in the second half of this financial
year. The second, requiring modified atmosphere packaging is expected to result
in further volumes from 2011, onwards.

· Having tested Biome resins on full-scale equipment a major American
supplier to the food processing market is keen to take the products to market.
Having already purchased initial quantities, anticipated success in composting
trials could result in this supplier becoming a substantial customer in the
second half of this year.

· One of the world's largest suppliers of horticultural plastic products,
this major producer carried out a number of successful full-scale processing
trials, of Biome blends, in 2009. Based on this success, they have since been
carrying out field trials in a range of climatic locations. The first set of
these trials is nearing completion and is said to be positive. Although some of
the trials will take several more months, larger sales are expected to begin in
the second half. By 2011, this could be another substantial customer.

· A European retail chain has been assessing making one of its high profile
products from Biome bioplastics. Several full scale production trials have been
completed and assessed by their convertor. We are now in commercial discussions
to firm up on prices and volumes for 2010.

· Two of the world's largest suppliers to the catering industry are
evaluating the new BiomeHT range, which has higher temperature resistance than
conventional bioplastics, for hot food and beverage use. The products were
developed in association with these companies.

[sakedometa] 29/4/2010 07:51

jwooley

Board do intend to make some sacrifices at last and put their money where their mouth is at last.

Directors will reduce their remuneration packages during this period of cash
constraint by approximately 30% following successful completion of the
fundraising described below and make further staff cost reductions

the Board already had non-binding indications of support to subscribe for more than 60% of this amount, including 5% to be taken up by the Directors and senior management of the Group

[grax] 29/4/2010 07:50

How much of the 1.62m [£2.7m minimum x 60%]'non-binding' committment is coming from Paul Mines and John Standen?

That would be a good statement to the market if a big chunk is coming out of their pockets.

[the_doctor] 29/4/2010 07:50

'I've been stating that for the last 6 months.'

why act so shocked then!?

[jwoolley] 29/4/2010 07:47

I think a little calm is needed here.......

But I do think its about time Paul stands down and also management as a whole all take a pay cut and stop taking options.....its about time they showed us shareholders that they want the company to thrive and its not just there to fill their pockets....!!!

Something seriously needs to be done about this....!!!

[daw2] 29/4/2010 07:46

los ricos

petrol for the range rover!

[los ricos] 29/4/2010 07:45

what's this for?:

Recurring administrative expenses (6,251) (5,628)

[grax] 29/4/2010 07:42

Are you having a laugh or do you not follow this thread?
I've been stating that for the last 6 months.I have been waiting for them to admit it.

[the_doctor] 29/4/2010 07:36

"With news of more fund raising"

It wasnt news grax!
If you bothered to look at cash flows, you'd have seen a cash call was guaranteed.

[grax] 29/4/2010 07:34

It struggles to hold .30 at present.With news of more fund raising and the inability to control costs,they would have to offer a significant discount so I'd say early .20's.

Can't see them getting it away.People and funds are tired of giving them money to get sweet FA back.They will pay the price [as will us holders] of having stuck two fingers up at shareholders for the last 3 years.

[conc2] 29/4/2010 07:27

what price .3p or even less .25

[conc2] 29/4/2010 07:25

4.5 billion shares soon

[grax] 29/4/2010 07:18

Further funding is necessary in order to underpin and achieve this and the Board
has decided to proceed with the planned fundraising to ensure that the Group can
fulfill its potential.


Doesn't add up! They say they about bioplastics moving into profit and good growth and reduced overheads and cash in the bank to last well over a year at current revenue levels but they want more?

Stinks!

[the_doctor] 29/4/2010 07:16

As I've posted several times, a cash raising was needed around mid-year
It was a given, so dont be surprised.

All in all, you're really very lucky that there is an open offer component, although it sounds as if most will be placed and presumably that will be at quite a discount?
This has been due, so the news might result in some relief?

[grax] 29/4/2010 07:10

The Group is also seeking to raise up to GBP3.5 million (before expenses)
from a planned fundraising in May 2010, to be achieved through a placing and
open offer with the net proceeds being used:
- to support the continued development of the Group's bioplastics products
and bioplastics market position with a view to commercial and technical
leadership in this arena;


See,we kind of thought that was what they'd been doing with the money so far.The IMS suggests all these 'potential' new deals and yet they want more money now just in case.

£3.5m required - 'non-binding' agreement on £1.62m.They're having a laugh!


Given up on the acquisition but don't have the decency to say so?

[grax] 29/4/2010 06:10

Well I'm sat here ready.
Bottle of champagne and razor blades by my side for whichever eventuality.
Good luck all.







I'm just wondering if that rafter would take my weight?.......stop it! have faith man! PM couldn't and wouldn't let us down yet again would he?

[runnett] 29/4/2010 01:10

Some good points made and important ones.

Heeley is right about the golden stake with subsidiary Biotec, i believe the agreement was ment to end in December 2009 with Sphere?. Although, SEO were ment to be building a US facility for sales. Can't remember whether this was pie, jam or blue sky RNS though -lol.
I believe the patents are held by Biotec, which throws up some interesting questions about recent patent battles.

Just a had a trawl through the exciting world of report notes and found:

"The Group's shareholding in Biotec is 50 per cent. However the Group is party to an agreement giving it a casting vote over all material decisions and so Biotec is accounted for as a subsidiary on the basis of control. The casting vote expires on 31 December 2009. After this date Biotec will cease to be fully consolidated."

Out of interest, has there been any news on how frogmat is going with Monosol stateside?

[thecrownsucks] 28/4/2010 22:25

FAT WHAT? cigar?

[grax] 28/4/2010 17:35

I think a very,very fat one might be needed 1st thing JW ;-)

[jwoolley] 28/4/2010 17:05

Good luck to all holders tomorrow.......heres to some good news or at least some jam with my toast...!!!