Zotefoams Plc Regulatory News (ZTF)

16 May 2006 07:01

Zotefoams PLC16 May 2006 16 May 2006 Zotefoams plc (the 'Company') AGM Statement At today's Annual General Meeting of Zotefoams plc, Bill Fairservice, Chairman,will make the following statement: "We have had an encouraging start to the year with sales to date in line withour expectations and ahead of 2005. Continental Europe and North America haveperformed particularly well and currency hedging contracts already in place for2006 will mitigate the negative impact of the recent weakening of the dollaragainst sterling. The Board therefore expects 2006 to be a year of furtherprogress for the business. As announced on 21 March 2006 we terminated our commercial relationships withthe Sekisui Group who represented Zotefoams as agents in Continental Europe andNorth America and as distributor in Asia. We are now dealing directly withthese customers and continue to build our commercial organisation to optimisethe benefit of direct customer contact in both business development and customerservice. Also, as announced on 30 March 2006, Tony Eldrett, our Operations and ProjectsDirector, resigned from the Board. Tony has been a director of Zotefoams since1992 and will remain with the Company for the foreseeable future. I would liketo thank Tony for his immense contribution to the development of Zotefoams." Enquiries: Zotefoams plc 020 8664 1600David Stirling, Managing DirectorClifford Hurst, Finance Director Financial Dynamics Limited 07747 602 739 / 020 7831 3113Sarah MacLeod This information is provided by RNS The company news service from the London Stock Exchange