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Synnovia PLC

Result of General Meeting and Change of Name

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RNS Number : 1385L
Plastics Capital PLC
20 December 2018
 

20th December 2018

 

Plastics Capital plc

("Plastics Capital", the "Company" or the "Group")

 

Result of General Meeting and Change of Name

 

Plastics Capital (AIM: PLA), the niche manufacturer of specialist products, announces that at the General Meeting held earlier today, Shareholders approved the change of the Company's name from Plastics Capital plc to Synnovia plc. The change of name will be effective once Companies House has issued a certificate of incorporation on change of name (the "Certificate"), which is expected to be issued later today. Subject to issuance of the Certificate, the Company's shares are expected to trade on AIM under the new name of Synnovia plc and the new TIDM of 'SYN' (previously 'PLA') from 8.00 a.m. tomorrow.

The Company's website address will also change to www.synnoviaplc.com.

 

For further information, please contact:

 

Plastics Capital plc

Tel: 020 7978 0574

Faisal Rahmatallah, Chairman


Nick Ball, Finance Director




Cenkos Securities plc

Tel: 020 7397 8900

(Nomad and joint broker)


Mark Connelly


Callum Davidson




Allenby Capital Limited

Tel: 020 3328 5656

(Joint broker)


David Hart




Notes to Editor

Plastics Capital is a niche manufacturer of specialist products.  Applications for these products vary widely and examples include:

•          Packaging for the food manufacturing and distribution - films, sacks and pouches

•          Steering columns and instrument control knobs in the automotive industry - plastic bearings

•          Hydraulic and industrial rubber hose manufacture - various types of mandrel

•          Cardboard box manufacture - creasing matrices

 

Plastics Capital's business model is based on understanding customers' problems in depth, and then developing and mass producing proprietary, technical solutions for these problems. As such many projects can take significant time to translate initial sale into volume production.

 

The business operates through two divisions, Films and Industrial, and has the majority of its production in six UK based factories, with a further two factories in Asia and one in the USA.  Approximately 50% of its £80 million sales, as per current run-rate, are made outside the UK to more than 80 countries.

 

Further information can be found on www.plasticscapital.com (up to and including 20th December) and thereafter www.synnoviaplc.com


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Quick facts: Synnovia PLC

Price: £0.88

Market: LSE
Market Cap: £34.12 m
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