Biome Tech Regulatory News (BIOM)

13 Mar 2006 07:02

Stanelco PLC13 March 2006 13th March 2006 Stanelco plc ("Stanelco" or the "Company") Appointment of new Finance Director Stanelco plc, the RF applications group, is pleased to announce the appointmentof Clive Warner as Finance Director. Mr Warner will commence his appointmenttoday replacing Mr Robert Boardman who leaves the Company today to pursue hisown business interests. Clive Warner, age 53, joins Stanelco from NAAFI, a global provider of retail,leisure and catering services to the Armed Forces, where he has served asFinance Director since 2002. Clive is a Chartered Accountant who gained themajority of his business experience in the retail and leisure sectors includingwith Sears, Woolworth and UCI Cinemas. Clive will continue to serve as FinanceDirector at Naafi before focusing full-time on his new role at Stanelco whichwill be by 1 July 2006 at the latest. Clive has been a non-executive director of Mygard plc since April 2004. There isno additional disclosure required pursuant to Listing Rule 9.6.13. Martin Wagner, Chief Executive, Stanelco plc commented: "I am delighted thatClive is joining our Board, his track record and wealth of experience willstrengthen the Company as we commercialise our technologies. I would also liketo thank Rob Boardman for his contribution towards the Company over the pastyear and wish him success in his future endeavours." Clive Warner, Finance Director, Stanelco plc commented: "I am looking forward tothe exciting challenge at Stanelco and contributing towards its future success." Stanelco has today granted options to the trustees of the Stanelco Plc EmployeeBenefit Trust (EBT) to acquire (by way of subscription) 10,000,000 ordinaryshares in the capital of the Company for an exercise price of 15.18 pence pershare. The Director's and Persons Discharging Managerial Responsibility (PDMR)are interested in these options. Stanelco intends, in due course, to issue aletter of wishes in respect of these share options to the trustees of the EBTasking them to consider appointing these share options to sub trusts for thebenefit of Mr Martin Wagner his spouse, widow, children or stepchildren underthe age of 18 years old (in respect of an option over 5,000,000 shares at anexercise price of 15.18 pence per share lapsing 12 March 2016) and for thebenefit of Mr Clive Warner his spouse, widow, children or stepchildren under theage of 18 years old (in respect of an option over 5,000,000 shares at anexercise price of 15.18 pence per share lapsing 12 March 2016). The appointmentof these share options into the proposed sub-trusts is at the discretion of thetrustees of the EBT and further announcement will be made should they choose toact on the letter of wishes. Robert Boardman continues to hold an option over 1,402,525 shares issued underthe EMI (Enterprise Management Incentive) scheme, but his interest in 6,097,475share options held under the EBT lapses on cessation of his employment. Including the options over 10,000,000 shares granted to the EBT today there areoptions over 33,292,683 shares which have been granted by the Company to theEBT. In addition to the above notification in respect of the 10,000,000 sharessubject to the options granted to the trustees of the EBT today, the Companyconfirms that EBT holds share options on behalf of the Director's, PDMR andemployees as follows. For the benefit of Mr Ian Balchin and his family an optionover 8,000,000 shares at an exercise price of 10.25 pence per share lapsing 3February 2015, for the benefit of Mr Howard White and his family an option over7,024,390 shares at an exercise price of 10.25 pence per share lapsing 3February 2015, for the benefit of Mr Robert Duggan and his family an option over2,268,293 shares at an exercise price of 10.25 pence per share lapsing 3February 2015, for the benefit of Mr Harald Schmidt and his spouse, children andstepchildren under the age of 18 years old an option over 5,000,000 shares at anexercise price of 19 pence per share lapsing 22 July 2015 and for the benefit ofMr Martin Wagner and his family an option over 1,000,000 shares at an exerciseprice of 19 pence per share lapsing 7 August 2015. - Ends - For further information please contact: Ian Balchin, Executive Vice ChairmanStanelco PLCTel: +44 (0)2380 867 100 Jonathon Brill/Billy CleggFinancial DynamicsTel: +44 (0)20 7831 3113 About Stanelco plc The Stanelco Group of companies (the Group) has brought together expertise inradio frequency (RF) technology, RF applications and biodegradable materialsciences to create a revolutionary range of packaging technologies. Stanelco's philosophy is that new products and processes must offer solutionsand applications which: - give higher added value, - are greener, more environmentally sustainable than those they replace and - have protectable intellectual property rights. Stanelco will develop the products and processes to a demonstration stage andthen work with partners in order to reach the markets; and under thesecircumstances Stanelco will usually seek to license its technology. Stanelcoinvests considerable time and resources in ensuring its technologies areprotected via layers of patents wherever possible. In this way Stanelco believes it can minimise commercial risk and preserve thehighest value for shareholders. The products offering the prospect of near term revenue generation are beinggiven priority over the Group's resources. Stanelco was founded in 1953 and is a world leader in the development of radiofrequency technologies for processing polymers for edible and packagingapplications and the design and manufacture of optical fibre technology,induction heating and dielectric welding equipment. Stanelco's currentdevelopments include GREENSEAL Food tray lidding technology, STARPOL (starch /pva blended material), STARPOL 2000 (highly functional, low cost biodegradablepackaging material with food contact approvals) FrogPack high impact low costpackaging format, CradleWrap range of biodegradable air cushion packaging,Soluble tape, 100% water-soluble films and adhesives, Biodegradable Airbag (voidfill) packaging, edible hard-shell capsule technology, water-soluble detergentcapsules, edible sachets and waste packing. GREENSEAL, STARPOL, FrogPack and CradleWrap are all trademarks of the Stanelcoplc group. This information is provided by RNS The company news service from the London Stock Exchange