- Biome Technologies Announces Proposed Sale of its 50% stake in Biotec
- Result of AGM
- Biome Technologies Notice of Annual General Meeting
- Biome Technologies Announces Preliminary Results for 2011
- Biome Technologies Publishes Annual Report and Financial Statements 2011
Biome Technologies Announces Proposed Sale of its 50% stake in Biotec Thursday, 6th September 2012
Biome Technologies plc announces the proposed disposal to Sphere S.A. (“SPH”) of the Company’s 50 per cent. holding in Biotec Holding GmbH (“Biotec”) (together with the outstanding shareholder loan of EUR 6,227,092.02 made by the Company to Biotec and its subsidiaries (the “Shareholder Loan”) for £5.2m in cash (the “Sale”).
- Sale of 50% stake in Biotec, the Group’s manufacturing joint venture with Sphere
- Biome will receive a cash consideration of £5.2m
- The sale will allow the Group to focus on its strategy to develop high margin, application led products.
John Standen, Chairman said:
“This disposal is an important step for the Company and it will allow our Bioplastics Division to work exclusively on developing and commercialising wholly owned intellectual property. The Board believes it is an appropriate time to divest its stake given the weak and uncertain market segments serviced by Biotec. In addition, we believe Biotec’s dedicated operations will become increasingly less relevant to Biome’s operations in the coming years as we focus on delivering our strategy to develop products with higher levels of functionality which are likely to require different production technologies.”
The Circular detailing this matter can be found here
Result of AGM Tuesday, 24th April 2012
Biome announces that at the Company's Annual General Meeting held earlier today all resolutions were duly passed.
At the Annual General Meeting, a presentation on 2011 performance and today's trading update was given to shareholders by the Chief Executive.
A copy of the presentation can be found here.
The detailed votes at the AGM can be found here.
Biome Technologies Notice of Annual General Meeting Monday, 2nd April 2012
The Annual General Meeting (the "AGM") of Biome Technologies plc will be held on Wednesday 25 April 2012 at11:00am at the offices of FTI Consulting (formerly Financial Dynamics), HolbornGate, 26 Southampton Buildings, London, WC2A 1PB (map).
The Notice of AGM can be found here.
Biome Technologies Announces Preliminary Results for 2011 Wednesday, 28th March 2012
Group revenue up 42% to £19.1m.
Loss from operations reduced to £1.0m (2010: loss £1.9m), ahead of expectations.
Loss before tax reduced to £1.1m (2010: loss £2.3m).
Closing Group cash position £2.4mTwo year debt facility of up to £2.0m agreed in May 2011 to support the continued growth of the Group.
47% growth in Bioplastics Division revenue which includes:
- 82% growth in revenue made by Biome Bioplastics, the wholly owned UK headquartered bioplastics business
- 31% growth in Biotec's third party revenue
21% growth in revenue in Stanelco RF Technologies with a new contract signed with Durapipe UK in January 2012
Bioplastics Division reaches annual breakeven for the first time and Stanelco RF Technologies improves profitability Significant progress made in broadening the Group's customer base in both applications and geography
Board strengthened with the appointment of Declan Brown as Group Finance Director.
Full details of these results can be found in the RNS section of the website. A presentation on the results can be found here
Biome Technologies Publishes Annual Report and Financial Statements 2011 Wednesday, 28th March 2012
The Annual Report and Accounts for 2011 are now available on the web here