Last checked at 20 Dec 2018 11:35
20th December 2018
Plastics Capital plc
("Plastics Capital", the "Company" or the "Group")
Result of General Meeting and Change of Name
Plastics Capital (AIM: PLA), the niche manufacturer of specialist products, announces that at the General Meeting held earlier today, Shareholders approved the change of the Company's name from Plastics Capital plc to Synnovia plc. The change of name will be effective once Companies House has issued a certificate of incorporation on change of name (the "Certificate"), which is expected to be issued later today. Subject to issuance of the Certificate, the Company's shares are expected to trade on AIM under the new name of Synnovia plc and the new TIDM of 'SYN' (previously 'PLA') from 8.00 a.m. tomorrow.
The Company's website address will also change to www.synnoviaplc.com.
For further information, please contact:
Plastics Capital plc | Tel: 020 7978 0574 |
Faisal Rahmatallah, Chairman | |
Nick Ball, Finance Director | |
Cenkos Securities plc | Tel: 020 7397 8900 |
(Nomad and joint broker) | |
Mark Connelly | |
Callum Davidson | |
Allenby Capital Limited | Tel: 020 3328 5656 |
(Joint broker) | |
David Hart | |
Notes to Editor
Plastics Capital is a niche manufacturer of specialist products. Applications for these products vary widely and examples include:
• Packaging for the food manufacturing and distribution - films, sacks and pouches
• Steering columns and instrument control knobs in the automotive industry - plastic bearings
• Hydraulic and industrial rubber hose manufacture - various types of mandrel
• Cardboard box manufacture - creasing matrices
Plastics Capital's business model is based on understanding customers' problems in depth, and then developing and mass producing proprietary, technical solutions for these problems. As such many projects can take significant time to translate initial sale into volume production.
The business operates through two divisions, Films and Industrial, and has the majority of its production in six UK based factories, with a further two factories in Asia and one in the USA. Approximately 50% of its £80 million sales, as per current run-rate, are made outside the UK to more than 80 countries.
Further information can be found on www.plasticscapital.com (up to and including 20th December) and thereafter www.synnoviaplc.com