PLNT Plantic Tech.

 

TIDMPLNT 
 
RNS Number : 4046U 
Plantic Technologies Limited 
24 June 2009 
 

24 JUNE 2009 
PLANTIC TECHNOLOGIES LIMITED 
("Plantic" or "the Company") 
 
 
ANNUAL GENERAL MEETING AND TRADING UPDATE 
 
 
Plantic (AIM:PLNT), the technology company engaged in the development and 
commercialisation of a range of environmentally friendly plastics from renewable 
resources, will today hold its Annual General Meeting in Melbourne, Australia. 
 
 
Ian Wightwick, Plantic's Chairman, will make the following statement at the 
meeting: 
 
 
"Financial performance in the first half of the current financial year is 
anticipated to be in line with market expectations. Although volumes will be 
lower, improved mix means revenue expectations have been met. We were able to 
concentrate our efforts on a number of key global brand leaders and new product 
development, where further progress has been made.  Our business has been 
re-structured to achieve cost savings and improved efficiencies, enabling us to 
improve our future competitiveness. Our cash position remains healthy, and is 
expected to be approximately A$21.5m as at 30 June 2009. 
 
 
As we approach the second half of the year, we are pleased to see a 
strengthening order book. However, trading conditions are expected to remain 
challenging leading to less certainty regarding the timing of new orders, with 
sales volumes and financial performance likely to be lower than market 
expectations. Nevertheless, we continue to make good progress developing and 
proving Plantic-based packaging with leading consumer brands in the UK, 
Continental Europe, Australia, New Zealand, and North and South America. We 
expect these efforts to be translated into new substantial supply contracts for 
our material in due course. 
 
 
We have recently secured a significant new long-term contract from a leading 
German food manufacturer to supply traditional packaging. This supports our 
strategy to utilise the world class manufacturing facility which Plantic 
recently opened in Jena to capitalise on opportunities to replace olefin-based 
packaging with Plantic material. This provides a one-stop solution for customer 
requirements and ensures the high level of cost-competitive service demanded." 
 
 
 
 
FURTHER INFORMATION: 
 
 
+-------------------------------------+-------------------------------------+ 
| Plantic Technologies:               |                                     | 
+-------------------------------------+-------------------------------------+ 
| Brendan Morris, Chief Executive     | +61(0)3 9353 7983                   | 
| Officer                             |                                     | 
+-------------------------------------+-------------------------------------+ 
|                                     |                                     | 
+-------------------------------------+-------------------------------------+ 
| Nomura Code Securities Limited:     |                                     | 
+-------------------------------------+-------------------------------------+ 
| Juliet Thompson                     | +44 (0)20 7776 1204                 | 
+-------------------------------------+-------------------------------------+ 
|                                     |                                     | 
+-------------------------------------+-------------------------------------+ 
| Pelham PR:                          |                                     | 
+-------------------------------------+-------------------------------------+ 
| Archie Berens                       | +44 (0)20 7337 1509 / +44 (0)7802   | 
|                                     | 442486                              | 
+-------------------------------------+-------------------------------------+ 
 
 
NOTES FOR EDITORS 
 
 
Plantic's novel polymer manufacturing technology is based on the use of 
high-amylose corn starch, a material derived from annual harvesting of 
specialized (hybrid) corn. The unique chemical and film-forming properties of 
this type of cornstarch allow for development of a range of applications across 
conventional plastics markets. In addition to being renewably sourced, users can 
take advantage of excellent end-of-life properties such as biodegradability and 
compostability. 
 
 
Plantic has several patents covering its technologies, formulations and 
applications. The Company's objective is to commercialise its plastic 
technologies across a broad range of applications, with a particular focus on 
the packaging industry. Its first product, the "Plantic tray" is sold 
commercially in the UK, Continental Europe, Australia and New Zealand. Injection 
Moulding resins are sold via DuPont globally excluding Australia and New 
Zealand. 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 AGMSELSMLSUSESM 
 

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