Biocide International Shareholder update

Biocide International shareholder update following AGM held on 30th June 2009.

Copy of letter sent to shareholders

13 July 2009

Dear Shareholder

On Tuesday the 30 June 2009 we held the scheduled Annual General Meeting of the Company and I am grateful to those of you who managed to attend.  This letter is being sent primarily as an update for the benefit of those who were unable to do so.

Having opened the meeting, I then adjourned the formal agenda items until after an update on our recent developments.  After a short introduction by me, a presentation was given by Dr Mark Randle.  Mark has recently joined the Biotech team and is also a general medical practitioner.  He identified the new development areas for the group and in particular the consumer applications that we have introduced as a direct result of the influenza pandemic.  These applications are expected to be in selected retail outlets this autumn.  We of course continue with our EnviroCair bulk products for supply to the Middle East and the sales activities for the Mozzi-Mort product, and the presentation identified all our key sales areas.

As a result of the significant interest in EnviroCair, we have concentrated our resources on meeting the anticipated demand, which could result in a sizable increase in our turnover.  The Board had discussed this development with our advisors who felt that until we had completed at least part of this new sales programme it would be inappropriate for a presentation to be made to shareholders by the prospective North American acquirer of the Group.  Also, the Board has been concerned that the funding to be injected into our business as part of the deal is not sufficiently assured.  I therefore announced that we would delay progressing any sale or uplift of the Company for at least 90 days and then review the offer in the light of the hoped for increase in corporate value.  I also advised the meeting that we had another offer from a German Group.  This is at an early stage but it may well soon advance into a mature proposal.  By the late autumn we should be in a position to consider the next stage for the business and, as and when there are significant developments, I will inform you accordingly.

Upon reconvening the meeting, each of the resolutions was presented for consideration.  Opportunity was given for questions and subsequently all the resolutions were carried unanimously.

Finally, a number of shareholders have asked if we can communicate more frequently.  Regrettably, with the increase in postage costs it requires an expenditure of at least £2,000 to produce just one shareholders’ letter.  An alternative is the internet but, sadly, this provides an excellent opportunity for competitors to learn about our next commercial steps.  It will shock you to know that within 24 hours of the AGM an aggressive rival announced the launch of a competitive flu pack.  I can assure you this was no coincidence.

Once again I thank all our shareholders, distributors and friends for their support and hope you will be pleased to know that your Company is poised to make a real difference in the healthcare market.

Yours sincerely

John Coombs
Chief Executive

WARNING
It is very apparent that some shareholders acquired their Biocide shares through entities operating outside of the UK, thus denying themselves the protection afforded by the UK’s Financial Services Authority.  Furthermore, third parties are continuing to contact Biocide’s shareholders.  The only official contact with you about your shares will be from the Company – no organisation either here or overseas is acting for us.  However, Biocide has appointed JP Jenkins Ltd to conduct transactions in its shares – if you wish to deal in Biocide’s shares, please use their matched bargain facility.  JP Jenkins Ltd is a trading name of Rivington Street Corporate Finance which is authorised and regulated by the Financial Services Authority (no 184761).  For further information please phone 020 7562 3388 or see www.jpjenkins.co.uk .  As in all financial and investment matters, you should take independent professional advice.
 

J P Jenkins is part of Rivington Street Holdings.
Rivington Street Corporate Finance is regulated by the Financial Services Authority and is a PLUS Corporate Adviser Member.