Re. InGel Technologies Ltd

Stanelco PLC 07 December 2004 7 December 2004 Stanelco PLC Re: InGel Technologies Limited Stanelco plc, the RF (radio frequency) applications group, is pleased to announce that it has agreed a modified deal with Cardinal Health in relation to its investment in InGel Technologies Limited (InGel), the Stanelco subsidiary. Cardinal Health will continue to invest further in InGel shares, in the near term a sum of approximately £410,000, and depending upon certain criteria being met within two years, a possible further investment of up to approximately £410,000. As a result of this transaction Cardinal's ownership in InGel would increase in the near term from 5% to 7.6%, and if the further criteria are met, to 10%. Commenting, Ian Balchin, Chief Executive of Stanelco, said: 'This is good news for Stanelco and we intend to apply the proceeds towards commercialising the Company's RF sealing technology. Stanelco's main focus at present is upon the commercialising of its RF tray-lidding technology for food applications - which is completely unconnected to the litigation with BioProgress. We have production trials commencing with several large packhouses over then next few months and we look forward to the results of these during the first quarter of 2005.' For further information please contact: Ian Balchin, Chief Executive Stanelco PLC Tel- +44 (0) 2380 867 100 Jonathon Brill Financial Dynamics Tel- +44 (0)20 7831 3113 Notes to Editors: About Stanelco Stanelco was founded in 1953 and is a world leader in the development of radio frequency technologies for processing polymers for edible and packaging applications and the design and manufacture of optical fibre technology, induction heating and dielectric welding equipment. The Company's current core business is the manufacture of optical fibre using Radio Frequency (RF) technology. Stanelco has been applying its technology to other markets current developments include biodegradable air cushion packaging, sealing of low-cost conventional plastics for food packaging, water-soluble detergent capsules, foamed starch trays, edible sachets and waste packing. ENDS This information is provided by RNS The company news service from the London Stock Exchange
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