30th Sep 2008 07:00
Embargoed Release: 07:00hrs Tuesday 30 September 2008
Ninety Plc
("the Company")
Admission of Enlarged Share Capital to Trading on AIM
Proposed Change of Name to Sorbic International plc
Change of ticker to SORB.L
Ninety is pleased to announce that following completion of the acquisition of Honour Field, the enlarged share capital of the Company is expected to be admitted to AIM and trading to commence at 8.00am today under the AIM ticker: NINE.L
The Company's proposed change in name to Sorbic International plc and corresponding change to its AIM ticker to SORB.L is expected to become effective at 8.00am tomorrow, Wednesday 1 October.
Notes to Editors: www.sorbicinternational.com
Sorbic International's principal activity is the production and sale of the food preservatives Sorbic Acid and Potassium Sorbate from its 33,000 m² production facility in Linyi City, Shandong Province, Peoples Republic of China ("PRC"). In 2007, Sorbic International sold 47.7 per cent. of its products to overseas markets and 52.3 per cent. to the Chinese domestic market. In that period, its overseas customers were spread over 46 countries and its domestic customers were spread all over China. The Company's existing manufacturing facilities are operating at their full design capacities and in order to meet future anticipated growth in demand, it proposes to double its existing manufacturing capacity utilising the Company's existing cash resources and working capital facilities.
Sorbic Acid is a naturally occurring organic compound that is used in all kinds of foods for its anti-decomposition and anti-fungus function and also in grains, medicines, cosmetics, toothpaste, tobacco, animal feed, latex, paper-manufacturing and pesticides. Potassium Sorbate is used to inhibit moulds and yeasts in many foods, such as cheese, wine, yogurt, dried meat, baked goods, cosmetics and pharmaceuticals.
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Enquiries: |
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Sorbic International plc, John McLean, Chairman |
Tel: +44 (0)7768 031 454 |
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FinnCap, Geoff Nash |
Tel: +44 (0) 20 7600 1658 |
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Hansard Group, John Bick |
Tel: +44 (0) 7872 061007 |
Related Shares:
Sorbic International