Further re IsraCaps license
October 24 2003 - 11:54AM
UK Regulatory
RNS Number:3048R
Stanelco PLC
24 October 2003
24 October 2003
STANELCO PLC
Stanelco announced the signing of binding Heads of Terms with IsraCaps Ltd for the licensing of Stanelco's established
patented Radio Frequency capsule making technology in the State of Israel
In response to shareholder enquiries we wish to clarify the following
information.
IsraCaps is a newly formed start up company owned by an Israeli citizen. Mr Ben White, the adult son of Stanelco
director Mr Howard White, is about to be appointed a director of IsraCaps Ltd. Mr Ben White is not a shareholder in
Stanelco Plc. He is the primary beneficiary of the Age of Reason Foundation which holds 227,078,122 (32.3%) ordinary
shares in Stanelco.
Negotiations leading to the signing of the Agreement commenced in June this year. Neither Mr Ben White nor Mr Howard
White were involved in these negotiations and Mr Howard White abstained from the Stanelco Board's decision to enter into
this agreement.
In the light of the circumstances outlined above, the Stanelco Board consider that the agreement does not give rise to
any considerations under the combined code of a related party transaction.
Jonathon Bill / Caroline Study
Bell-Pottinger Financial
Tel 020 7861 3232
This information is provided by RNS
The company news service from the London Stock Exchange
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