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FOR SHARE PRICE INFORMATION & LATEST NEWS ON MILLBROOK SCIENTIFIC INSTRUMENTS PLC PLEASE VISIT THE WEBSITE OF THE LONDON STOCK EXCHANGE. ENTER THE CODE "MBK" IN THE PRICE SEARCH FACILITY ON THE HOMEPAGE OR CLICK HERE. HOLDING(S) IN COMPANY In accordance with Chapter 5 of the Financial Services Authority's Disclosure and Transparency Rules, the Company was informed on 19th August 2008 that Mr. David Winton Harding currently holds 7,500,000 ordinary shares in the Company, representing 10.18 per cent. of the issued ordinary voting share capital of the Company. RESULTS OF ANNUAL GENERAL MEETING Millbrook Scientific Instruments plc held its Annual General Meeting at 12 noon today. Ordinary Resolutions 1-6 at the Company's AGM held earlier today were duly passed. Special Resolutions 7-9 pertaining to the disapplication of pre-emption rights within limits and the adoption of new Articles of Association reflecting changes brought about by the Companies Act 2006 were also passed. Although a poll was not required, the Chairman held proxies in favour of all resolutions or at his discretion over a number of shares totalling 16,543,934 out of the 73,657,416 in issue. A copy of the new Articles adopted today may be found on this website.FINAL RESULTS FOR THE YEAR ENDED 31 MARCH 2008 Millbrook Scientific Instruments plc today announced its Final Results for the year ended 31 March 2008. Highlights
Priorities for FY2009:
To download a copy of the Chairman’s Statement and a summary of the accounts, please click here (160 kB) To download the full Report & Accounts 2008, please click here (535 KB) HOLDING(S) IN COMPANY In accordance with Chapter 5 of the Financial Services Authority's Disclosure and Transparency Rules, the Company was informed on 20 May 2008 that Mr. David Winton Harding currently holds 6,850,000 ordinary shares in the Company, representing 9.3% of the issued ordinary voting share capital of the Company. DIRECTOR'S SHAREHOLDING The Company has been informed that on 26 March 2008 John Eccles sold and purchased 1,387,382 Millbrook ordinary shares at 1.5p per share and 1.502p per share respectively. Simultaneously, John Eccles sold and purchased a further 400,000 ordinary shares at 1.5p per share and 1.5075p per share respectively on behalf of his wife, Jane Curley. These transactions were undertaken for personal tax reasons. John now holds 1,787,382 ordinary shares and his wife holds 500,000 shares. John is therefore still interested in a total of 2,287,382 ordinary shares, representing 3.11% of the Company's issued and voting ordinary share capital. HOLDING(S) IN COMPANY In accordance with Chapter 5 of the Financial Services Authority's Disclosure and Transparency Rules, the Company was informed on 26 March 2008 that Mr. David Winton Harding currently holds 6,150,000 ordinary shares in the Company, representing 8.35% of the issued ordinary voting share capital of the Company. HOLDING IN COMPANY In accordance with Chapter 5 of the Financial Services Authority's Disclosure and Transparency Rules, the Company was informed today that Mr James Leek has a beneficial interest in 3,725,000 ordinary shares, representing 5.1% of the issued ordinary and voting share capital of the Company. DIRECTOR SHAREHOLDING The Company has today been informed that John Eccles purchased 100,000 Millbrook ordinary shares today at 1.65p per share, on behalf of his wife, Jane Curley. HOLDING IN COMPANY In accordance with DTR 5 of the Transparency Obligations Directive (Disclosure and Transparency Rules) Instrument 2006, the Company was informed by Barclays Stockbrokers Ltd on 29 January 2008, that the holding of Barclays Stockbrokers Ltd. in the shares of Millbrook is:-
Further to the announcement of 15 January 2008 regarding the interests held by Barclays Stockbrokers Ltd in the issued and voting share capital of the Company, the Company was informed that, in accordance with Chapter 5 of the Financial Services Authority's Disclosure and Transparency Rules, Barclays Stockbrokers in fact hold the following interests in the issued and voting share capital of the Company:
In accordance with Chapter 5 of the Financial Services Authority's Disclosure and Transparency Rules, the Company was informed on 10 January 2008, of the following interests in the issued and voting share capital of the Company:
DIRECTOR SHAREHOLDING The Company was informed on 14 January 2008 that Stephen Blank, the Non-Executive Chairman of the Company, has purchased 50,000 ordinary shares in the Company at 2.125p per share, bringing his total shareholding in the Company to 200,000 ordinary shares, representing 0.27 per cent. of the issued share capital and total voting rights. The Company was informed on 28 December 2007 that Stephen Blank, the Non-Executive Chairman of the Company, has purchased 50,000 ordinary shares in the Company at 2.125p per share, bringing his total shareholding in the Company to 150,000 ordinary shares, representing 0.20 per cent. of the issued share capital and total voting rights. HOLDING IN COMPANY In accordance with Chapter 5 of the Financial Services Authority's Disclosure and Transparency Rules, the Company was informed on 20th December 2007 that Rensburg Sheppards Investment Management Limited as of 19th December 2007 indirectly holds 2,850,600 ordinary shares in the Company, representing 3.87% of the issued ordinary voting share capital of the Company. INTERIM RESULTS FOR 6 MONTHS ENDING 30 SEPTEMBER 2007 Millbrook Scientific Instruments plc (AIM:MBK), the designer and manufacturer of innovative scientific instruments that measure nanoscale properties of thin films and coatings, announces its Interim Results for the six months ended 30 September 2007.
To download a copy of the interim results in pdf format, please click here (297 kb) HOLDING IN COMPANY In accordance with Chapter 5 of the Financial Services Authority's Disclosure and Transparency Rules, the Company was informed on 5th November 2007 that Rensburg Sheppards Investment Management Limited as of 2nd November 2007 hold 3,100,600 ordinary shares in the Company, representing 4.21 per cent. of the issued ordinary voting share capital of the Company. HOLDINGS IN COMPANY In accordance with Chapter 5 of the Financial Services Authority's Disclosure and Transparency Rules, the Company was informed on 27 September 2007 that Mr. David Winton Harding currently holds 5,500,000 ordinary shares in the Company, representing 7.47 per cent. of the issued ordinary voting share capital of the Company. In accordance with Chapter 5 of the Financial Services Authority's Disclosure and Transparency Rules, the Company was informed on 21 September 2007 that Rensburg Sheppards Investment Management Limited as of 20 September 2007 hold 2,850,600 ordinary shares in the Company, representing 3.87 per cent. of the issued ordinary voting share capital of the Company. In accordance with Chapter 5 of the Financial Services Authority's Disclosure and Transparency Rules, the Company was informed on 17 September 2007 that Rensburg Sheppards Investment Management Limited has an indirect interest in 2,950,600 ordinary shares of the Company, representing 4.01% of the issued ordinary voting share capital of the Company. The Company was notified on September 17th 2007 that the NorthWest Business Investment Scheme is beneficially interested in 12,665,000 Millbrook ordinary shares, representing 17.2% of the Company's issued voting ordinary share capital. In accordance with Chapter 5 of the Financial Services Authority's Disclosure and Transparency Rules, the Company was informed on 14 September 2007 that Barclays Stockbrokers Ltd no longer have a notifiable interest in the issued ordinary voting share capital of the Company. The Company was notified on September 14th 2007 that James Leek is beneficially interested in 3,375,000 Millbrook ordinary shares, representing 4.6% of the Company's issued voting ordinary share capital. DIRECTOR’S SHAREHOLDING The Company was notified today that John Eccles, a director of the Company, is beneficially interested in 2,187,381 Millbrook ordinary shares, representing 2.97% of the Company's issued voting ordinary share capital. PLACING OF SHARES The Company announces today that it has raised £400,000, before expenses, through a placing of 20,000,000 ordinary shares at 2p each. The net proceeds from this placing will be used as working capital. These shares have been placed by the Company with a number of existing shareholders and certain of the directors. The participating directors have subscribed for the following number of shares in the placing as follows:-
Application for the admission to AIM of the new ordinary shares has been made and dealings are expected to commence on 14 September 2007. The new ordinary shares rank pari passu with the existing ordinary shares and are identical in all respects. Following the placing there will be 73,657,416 ordinary shares of the Company in issue. EGM STATEMENT & RESULTS Millbrook Scientific Instruments plc held its Extraordinary General Meeting at 10.00 a.m. today. At the meeting, Stephen M Blank, Non-Executive Chairman of Millbrook Scientific Instruments plc, made the following statement: “The Board wishes to inform shareholders of some significant developments that have occurred since the circular of 31 July 2007:
Due to the urgent nature of the Company's requirement for additional funds to remedy the short term cashflow problems as described in the circular of 31 July 2007, and the costs associated with an offer to all shareholders to subscribe for shares on a pre-emptive basis, the Company decided not to undertake the Placing on a pre-emptive basis. Under the Placing the Directors would seek to raise between £350,000 and £400,000. The bank's fee would be £25,000, whereas under the Fundraising they would seek a fee equivalent to 4.43% of the Enlarged Equity (taking into account existing options, arranger warrants and proposed Incentive Warrants). The Fundraising would therefore result in dilution by up to 15,955,654 shares (20.5% of the Enlarged Equity) but with no additional equity, whereas the Placing would result in dilution by 17,500,000 - 20,000,000 shares (22.0% - 24.38%. of the Enlarged Equity), but with the resulting additional equity. Although the Placing will result in somewhat greater dilution the additional equity capital received will strengthen the balance sheet and give greater confidence to customers, prospective customers and suppliers. For these reasons, the Directors recommend the Placing. It remains essential to complete the Capital Reorganisation to enable either scheme to take place. Furthermore, the powers being sought under 2.3 of Resolution 2 and 3.3 of Resolution 3 (as detailed in the Notice of EGM of the circular of 31 July 2007) would enable the Placing to be followed rather than the Fundraising. In seeking your vote in favour of all the Resolutions, the Directors are therefore seeking the powers to complete either scheme by 14 September 2007. Thereafter, further Resolutions authorising the Directors to allot shares and to disapply pre-emption rights only within certain specified limits will be proposed at a second EGM.” All Resolutions were duly passed. 22 August 2007 SHAREHOLDER UPDATE The Company wishes to inform shareholders of some significant developments that have occurred since the circular of 31 July 2007:
Due to the urgent nature of the Company’s requirement for additional funds to remedy the short term cashflow problems as described in the circular of 31 July 2007, and the costs associated with an offer to all shareholders to subscribe for shares on a pre-emptive basis, the Company decided not to undertake the Placing on a pre-emptive basis. Under the Placing the Directors would seek to raise between £350,000 and £400,000. The bank’s fee would be £25,000, whereas under the Fundraising they would seek a fee equivalent to 4.43% of the Enlarged Equity (taking into account existing options, arranger warrants and proposed Incentive Warrants). The Fundraising would therefore result in dilution by up to 15,955,654 shares (20.5% of the Enlarged Equity) but with no additional equity, whereas the Placing would result in dilution by 17,500,000 – 20,000,000 shares (22.0% - 24.38%. of the Enlarged Equity), but with the resulting additional equity. Although the Placing will result in somewhat greater dilution the additional equity capital received will strengthen the balance sheet and give greater confidence to customers, prospective customers and suppliers. For these reasons, the Directors recommend the Placing. It remains essential to complete the Capital Reorganisation to enable either scheme to take place. Furthermore, the powers being sought under 2.3 of resolution 2 and 3.3 of Resolution 3 (as detailed in the Notice of EGM of the circular of 31 July 2007) would enable the Placing to be followed rather than the Fundraising. In seeking your vote in favour of all the Resolutions, the Directors are therefore seeking the powers to complete either scheme by 14 September 2007. Thereafter, further Resolutions authorising the Directors to allot shares and to disapply pre-emption rights only within certain specified limits will be proposed at a second EGM. 17 August 2007 COMPANY WEBSITE Millbrook Scientific Instruments plc is pleased to announce that the information required by AIM Rule 26 is available on this website at http://www.millbrook-instruments.com/rule26.htm RESULTS OF AGM Ordinary Resolutions 1-7 at the Company's AGM held earlier today were duly passed. Special Resolution 8, pertaining to the dis-application of pre-emption rights, was not passed. AGM & CHAIRMAN'S STATEMENT Millbrook Scientific Instruments held its Annual General Meeting at 11.00 a.m. today. At the meeting, Stephen M Blank, Non Executive Chairman of Millbrook Scientific Instruments plc, made the following statement: “Having recently joined the Board and very recently taken over as Chairman from Peter Stefanini, I would like to take this opportunity to update you on current trading. I hope to get to know as many of you personally as possible over the next few months and indeed years. Unusually, a Circular has been posted this morning. Copies are available here in case you have not seen it but I can summarise as follows. We were advised on 10 July 2007 that one of the MiniSIMS ToF instruments that had been shipped at the end of June had been damaged in transit. It had to be returned to Blackburn which clearly put at risk one of the key assumptions in our short term cash flow forecast. Following review the bank indicated that it would not be prepared to increase our existing overdraft facility but would consider renewing or replacing it if the additional requirement of approximately £200,000 could be provided by way of Unsecured Loan Notes. The Board has received an offer in principle to provide a substantial part of the Loan Notes from YFM, the Company’s largest single shareholder. The terms include warrants to subscribe for shares at a price anticipated to be 2p which is below the par value of the shares of 5p. In order to comply with the Companies Act, we have to reorganise our share capital to redesignate the shares as 1p shares which of course requires an EGM. The purpose of the circular is to give notice of that EGM which is to take place here at 10 am on Friday 24 August 2007. Further details are given in the full circular. However, it is clear that, without securing an element of investment of at least £200,000, the ability of the Company to continue trading will be brought into question. That said, booked orders for the year currently stand at just over £1.7 million (FY07: £1 million), including £750,000 despatched, this is 89% of last year’s turnover at the 4 month stage. In addition there are high probability prospects of over £520,000 (FY07: £500,000). We will ultimately succeed if we have the right calibre of management and staff. I would like to pay tribute to my predecessor Peter Stefanini. Whatever the difficulties we face at the moment, this group and its undoubted potential would not exist but for his drive and vision. However it is time to move to the next phase and I am convinced that Paul Grasske is the person to take us forward. He is an unflappable accountant but also much more, as his success in managing Micro Materials over the years has shown. The NEDs Malcolm Fortnam and Simon Cleaver have made, in my opinion, entirely the right decision in appointing him Group CEO and as the staff Paul has recruited come on board over the next few weeks we will, I am sure, see improvements in our production techniques. I would like to thank Simon for his immense contribution and, through him, YFM for their support. For my part, I will do what I can to help Paul and the other board members come through the immediate difficulties and then start rebuilding shareholder value.” To download a copy of the Circular & Notice of EGM, please click here. (116KB) To download a Proxy Form for the EGM, please click here. (62KB) DIRECTOR'S SHAREHOLDING The Company has today been informed that Peter Stefanini purchased, on 6 July 2007, 100,000 Millbrook Ordinary Shares at 2.75p per share. Peter is now interested in a total of 946,942 ordinary shares representing 1.76% of the Company's voting share capital. DIRECTOR SHAREHOLDING Millbrook Scientific Instruments plc (the Company) has today been informed that Peter Stefanini purchased, on 29 June 2007, 100,000 Millbrook Ordinary Shares at 2.75p per share. Peter Stefanini is now interested in a total of 846,942 ordinary shares representing 1.58% of the Company's voting share capital. FINAL RESULTS FOR THE YEAR ENDED 31 MARCH 2007 Millbrook Scientific Instruments plc today announced its Final Results for the year ended 31 March 2007. Highlights
Commenting on the results, Dr Peter Stefanini, Chairman, said:- “Failure to get a number of high value MiniSIMS orders shipped before the year end was the reason for our disappointing performance last year. Steps have already been taken to rectify the production weaknesses which led to this. I am pleased to say that demand for Millbrook's products is at a record level with the new versions of the MiniSIMS attracting great interest particularly from blue chip technology companies.” To download the Executive Chairman's Statement and a summary of the accounts, please click here. (277KB) To download the full Report & Accounts 2007, please click here. (527 KB) APPOINTMENT OF NON-EXECUTIVE DIRECTOR Millbrook Scientific Instruments PLC is pleased to announce the appointment of Stephen Blank as non-executive director to the board with immediate effect. Stephen qualified as a Chartered Accountant with KPMG in 1977 after obtaining a first class degree in Mathematics at Oxford. He then joined General Surety & Guarantee Co Ltd, an insurance company specialising in performance bonds. At GSG he gained experience in financial analysis at board level with major companies, a high level of computer expertise and his first experience of board membership. He returned to the profession, joining Binder Hamlyn in 1981 and became a partner in 1983. He specialised in corporate finance and was named Reporting Accountant on the Norweb float. He joined Swinton Insurance as Group Planning and Finance Director in 1989, leaving in 1991 following its acquisition by Royal Sun Alliance. He then began acting as part-time finance director or non-executive director for a small portfolio of SME's. Since then several of these have progressed from start-up to exit via fund-raising. He joined the board of Astek Innovations Limited in November 2004 which was listed on AIM in October 2006 by a reverse into Astek Group PLC. Stephen Martin Blank, aged 55, currently holds, or has held within the previous five years, the following directorships: Current directorships:
Past directorships and partnerships within the last five years:
Stephen Blank was a director of Lawson Alexander Blank Limited from 1 June 1992 until 3 May 2005. An Administrator was appointed to this company, now renamed MOS Realisations, on 24 June 2005. The estimated total deficiency as regards members totalled £93,786 and there was no deficiency as regards creditors. Stephen Blank was also a non-executive director of Gaynor Group plc when it was placed in to Administrative receivership. It is intended that Stephen Blank will assume the position of non-executive chairman of Millbrook Scientific Instruments PLC at the AGM. Commenting on the appointment Peter Stefanini, the present chairman, said: "Stephen brings extensive experience of corporate finance and chairing SME's and we welcome him warmly to the Group." HOLDING IN COMPANY In accordance with Chapter 5 of the Financial Services Authority's Disclosure and Transparency Rules, the Company was informed on 20 April 2007, of the following interests in the issued voting share capital of the Company:
DIRECTORS SHAREHOLDING In accordance with Chapter 5 of the Financial Services Authority's Disclosure and Transparency Rules, the Company was informed on 19th April 2007 that John Eccles, a Director of the Company, is interested in 2,187,382 ordinary 5p shares in the capital of the Company, representing approximately 4.08 per cent of the Company's issued voting share capital. TRADING UPDATE AND BOARD CHANGES Sales for the second half totalled approximately £1.3 million compared with first half sales of £623,000. However, this was not enough to bring sales for the year to the level of £2.5 million indicated in the Group's Interim Results Statement. Total sales achieved by the Group for the year ended 31 March 2007 were £1.9 million. This shortfall from forecast is likely to generate an EBITDA well below the break-even level of analysts' forecasts. The Group expects to announce its results for 2006-7 in June 2007. Had the high level of orders at year-end - some £783,000 - been shipped, the target of £2.5 million sales would have been comfortably exceeded. However, in spite of extensive hours worked by production staff, late receipt of some key components prevented completion and testing by year-end. It is expected that the vast majority of these orders will be shipped in April and May. High probability prospects in the pipeline amount to a further £960,000, bringing the total of orders and high probability prospects to over £1.7 million. The data storage and semiconductor sectors are proving increasingly lucrative for the Group. In addition to the MiniSIMS HDA shipped to Japan last year, two further MiniSIMS ToFs in the order pipeline are for applications in these sectors. Pricing strategy for the MiniSIMS ToF has been successful and the instrument has been selling at a considerable premium to the price of the standard MiniSIMS. Sales of the NanoTest continued to grow. The recently launched controller has provided enhanced technical performance and has been well received by the market. After six and a half years as Executive Chairman of Millbrook, first as a private company then as a PLC, Dr Stefanini is handing over his executive responsibilities to Paul Grasske who will become Chief Executive with immediate effect. Dr Stefanini will continue as Chairman until the AGM at which point he will step down from the Board. As a part of the arrangements Dr Stefanini will retain his option to subscribe for ordinary shares in the Company granted on 15th October 2003. HOLDING IN COMPANY In accordance with DTR 5 of the Transparency Obligations Directive (Disclosure and Transparency Rules) Instrument 2006, the Company was informed by Rensburg Sheppards Investment Management Limited on 8 March 2007, that the holding of Rensburg Sheppards Investment Management Limited in the shares of Millbrook is 2,945,600 ordinary shares which represents 5.49% of Millbrook's issued voting share capital. VOTING RIGHTS AND CAPITAL For the purposes of the transitional provisions of the Financial Services Authority's Disclosure and Transparency Rules, the Company's total issued share capital at the date of this notice consists of 53,657,416 ordinary shares of 5p each with one voting right per share. There are no shares held in treasury. The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company, under the Disclosure and Transparency Rules. ADDITIONAL LISTING Application has today been made for the admission of 176,640 shares to trading on AIM. These shares were issued as a result of the exercise of warrants. Dealings are expected to commence on 22 December 2006. INTERIM RESULTS FOR 6 MONTHS ENDED 30 SEPTEMBER 2006 Millbrook Scientific Instruments plc, the designer and manufacturer of innovative scientific instruments that measure nanoscale properties of thin films and coatings, today announces its Interim Results for the six months ended 30 September 2006. Highlights
Commenting on the results, Dr Peter Stefanini, Executive Chairman of Millbrook Scientific Instruments plc, said: “We see excellent market opportunities for the new flagship products which have resulted from our development programme. Demand for these products is encouraging and we expect the opportunities for repeat sales and upgrades to be enhanced. The data storage sector has emerged as a particularly attractive prospect and considerable progress has been made here." To download a copy of the Interim Results, please click here (275 kb) DIRECTORATE APPOINTMENT Millbrook Scientific Instruments plc is pleased to announce the appointment of Simon Cleaver as Non-Executive Director to the Board with immediate effect. Simon is an Investment Manager with YFM Group, the UK’s most active investor in SMEs with over £250 million under management. His role involves making and managing investments in both AIM and unquoted companies. Before joining YFM he was the London Stock Exchange’s Senior Manager in the North West, managing relationships with existing and potential quoted companies. Prior to that Simon was a Senior Analyst in the Smaller Companies sector with Charterhouse Securities and an Investment Executive with 3i. Simon holds an MBA from Manchester Business School and a First Degree from Durham University. In accordance with Schedule 2 (g) of the AIM Rules, Simon Christopher Cleaver, aged 42, has the following directorships: Current Directorships:-
Past Directorships within the last five years:-
Commenting on the appointment, Dr Peter Stefanini, Executive Chairman of Millbrook, said: “We are delighted to welcome Simon to the Millbrook Board. YFM, via the North West Business Investment Scheme, is the Company’s largest single shareholder with a holding of ten percent and we strongly value their active participation in our on-going development.” TRADING UPDATE AND DIRECTORATE APPOINTMENT Millbrook Scientific Instruments plc (AIM:MBK) today gave the following update on current trading. Sales in the first half of the year totalled £623,000. This disappointing result arose from delays in the shipping of two high priced MiniSIMS instruments, which were scheduled for delivery in September. The first of these, a MiniSIMS HDA automatic testing system ordered by a large Japanese electronics company, required inspection by the purchaser on site before despatch. This has now been satisfactorily completed and the instrument is due to be shipped on 15 November. The second instrument, a MiniSIMS ToF ordered by a large international jewellery manufacturer, is due to be shipped in December. The delays to these shipments caused a shortfall of £416,000 in first half sales. Each of these instruments is the first of its kind to be shipped and the time required to optimise performance has been greater than anticipated. Nevertheless, the difficult development phase is over and these more advanced product lines are expected to become major revenue earners in the future with average order value approaching twice that of the standard instrument. The Board’s confidence in the future of these new product lines is based on an overwhelmingly positive response from potential customers following in-house demonstrations. In spite of the delayed shipments and corresponding delay in cash inflow, the Company has adequate resources for its foreseeable working capital requirements. Orders received by the Company for shipment so far this year amount to £1,505,000. In addition, high probability prospects represent further potential revenue of around £1,600,000. Given reasonable assumptions on the conversion of prospects to orders, and taking into account production capabilities, the Company anticipates that sales for the full year 2006-7 should reach £2,500,000. Whilst this is below the most recent analyst forecasts, this level of sales would represent an increase of some 16% over sales in 2005-6. The Company will announce its interim results for the six months to 30 September 2006, on 15 December 2006. The Company is also pleased to announce that Simon Cleaver, Investment Manager at YFM Private Equity, has been invited to join the board as a Non-Executive Director. YFM via the North West Business Investment Scheme is the Company’s largest single shareholder with a shareholding of 10%. It is the intention of the Board to elect Simon Cleaver as a director at its next board meeting on 23 November 2006. HOLDING IN COMPANY The Company was informed on 1 November 2006 that Dr Tim Steele has recently sold 500,000 shares in the Company and as a result no longer holds a notifiable interest. RESULT OF AGM Millbrook Scientific Instruments plc confirms that all the resolutions put to shareholders at the Company’s Annual General Meeting held today were duly passed. 2006 AGM STATEMENT Millbrook Scientific Instruments plc will be holding its Annual General Meeting at 11 a.m. today. At the meeting, Dr Peter Stefanini, Executive Chairman of Millbrook Scientific Instruments plc, will make the following statement: “This is the fourth Annual General Meeting of Millbrook Scientific Instruments plc and I would like to take this opportunity to update you on current trading and recap on some of the key issues within my statement in the recent Report and Accounts. Booked orders for the year currently stand at just over £1 million, supported by high probability prospects of over £500,000. As this is substantially ahead of where we were at this time last year – indeed a record for any year - and almost halfway to our sales target, we remain very confident about this year’s trading. Pleasingly, interest in our products continues to be global and this year’s orders have come from Japan, USA, Russia, Finland, China, Malaysia, Spain, Austria and the UK. For the first time this year we are selling a range of new products at premium prices. We are scheduled to deliver our first MiniSIMS TOF by September of this year to a large jewellery manufacturer at a considerable premium over the standard MiniSIMS. We expect an accelerating sales performance from this product as the year progresses. By September we should also have delivered a MiniSIMS HDA automated testing system at a price of £250,000 to a large Japanese electronics company. This company has two further production sites where we are hopeful of repeat business and there is considerable potential to sell to other players in this sector. This is a big market opportunity for Millbrook that we are determined to seize. Micro Materials continues to grow its business within the burgeoning nano-indentation sector. This success results from a dynamic development programme that keeps it ahead of the competition. Last year was a challenging year for the Group. We had invested in additional people - with the inevitable increase in overheads. This was done to generate a major increase in sales and in the event we achieved a much smaller increase than we had planned. Consequently we recorded an EBITDA loss of £91,000. We have since taken action to reduce the overheads at the loss making Aquila operation and withdraw from the site at Cambridge. This, along with the reduced headcount at Board level, has resulted in fixed cost reductions of around £150,000 p.a. The manufacture of the Aquila nkd – which we still believe to be a product with good potential - will now be largely sub-contracted, and selling will be integrated with Micro Materials. The funds we raised at the recent placing which were earmarked for working capital have enabled the company to strengthen its balance sheet and concentrate more resource on sales. Increasing sales is our highest priority, and it is right that new capital has been invested in this area. Whilst we continue to look at interesting joint venture opportunities that enhance our geographic reach or bring other synergies, we are not contemplating an acquisition in this financial year until we have demonstrated the profitability of our existing business. After that we anticipate being in a position to return to our buy and build strategy within the dynamic nanoscience sector. In conclusion, I stand by my comment in the Report and Accounts. I believe that everything is in place for a set of good results this year: the order book is stronger, the product portfolio is broader and the cost base has been reduced. I confidently expect a good outcome for Millbrook in 2006-7.” FINAL RESULTS FOR THE YEAR ENDED 31 MARCH 2006 Millbrook Scientific Instruments plc today announced its Final Results for the year ended 31 March 2006. Highlights
Commenting on the results, Dr Peter Stefanini, Executive Chairman, said:- “Trading last year was slower than expected, due to the delay in conversion of some prospects to orders, which had a significant impact on the bottom line. Increasing sales in 2006-7 is our highest priority and our efforts are focused on that task. The principal achievement of last year was that we completed the development of a number of new products that greatly enhance our product range. These are now ready to market and have already generated substantial interest. Compared with last year, the order book is stronger, the product range is broader and the cost base has been reduced. I therefore believe that we are poised for a successful year.” To download the Executive Chairman's Statement and a summary of the accounts, please click here. (288KB) To download the full Report & Accounts 2006, please click here. (482 kB) 12 April 2006 HOLDINGS IN COMPANY AND DIRECTOR SHAREHOLDING The Company was notified on 12 April 2006 that Wills and Co Stockbrokers Limited is beneficially interested in 1,890,650 Millbrook ordinary shares representing 3.52% of the Company's issued share capital. The Company was notified on 7 April 2006 that City Equities Limited, having disposed of a number of shares in the Company to their private clients, no longer have a notifiable interest in the Company. The Company was notified on 6 April 2006 that Mr Peter Vohralik, a Director of the Company, took part in the recent placing and purchased 76,000 ordinary shares in the Company at the placing price of 5p each, representing 0.14% of issued share capital of the Company. 4 April 2006 PLACING OF SHARES Millbrook Scientific Instruments plc (AIM: MBK) announced today that it has raised £789,857.50, before expenses, through a placing of 15,797,150 ordinary shares at 5p each. The net proceeds from this placing will be used as working capital. These shares have been placed with institutional and other investors by the Company’s broker, Seymour Pierce Limited. Application for the admission to AIM of the new ordinary shares has been made and dealings are expected to commence on 6 April 2006. The new ordinary shares rank pari passu with the existing ordinary shares and are identical in all respects. Executive Chairman, Dr Peter Stefanini commented: “We begin our new financial year with a wider portfolio of products than ever before, including several new products developed in-house last year. This additional working capital will enable us to increase our sales and marketing effort and ensure that the global potential of the product range is exploited to the full. We shall also take steps to strengthen our distribution in the USA and Asia.” 21 March 2006 MILLBROOK WINS FIVE NEW ORDERS Millbrook Scientific Instruments plc today announced the winning of five new orders valued at £400,000, which will be shipped before the end of March. These include the Group’s first sale to Australia and the first US order secured as a result of a new joint venture in Atlanta, Georgia. The University of Melbourne – one of Australia’s foremost research institutions – has purchased a NanoTest system for conducting advanced experiments at the nanoscale level. In addition to providing information on hardness of surfaces it can provide information on impact and wear properties using the Group’s unique patented technology. The Illinois Institute of Technology in Chicago has also ordered a NanoTest system. This is the first sale through the Group’s new joint venture, with MVA Scientific Consultants of Atlanta, Georgia. The JV, set up last October, provides Millbrook with a demonstration site in a key global market and an application support facility for users. The highly acclaimed Massachusetts Institute of Technology (MIT) has ordered an Aquila nkd 8000 to advance its research into the optical properties of thin films. The instrument significantly increases MIT’s capability in this area. Millbrook has won the tender to supply a MiniSIMS to the Institute of Chemical Engineering and High Temperature Chemical Processes (ICE-HT), based in Greece. ICE-HT runs some 60 research projects in industry and universities, not only in Greece but also other EU countries, the USA and Japan. More specifically, it has established R&D centres both for surface science and for nano-structured materials. A further MiniSIMS was delivered to Winnats Scientific Services in Derbyshire, England, last week. Winnats provides expert, fast-turnaround surface analysis on a contract basis to a wide range of customers. Commenting on the most recent orders Dr Peter Stefanini, Executive Chairman, said: “After a rather quiet period, during which the company issued a trading update, this is a welcome intake of new business. We are delighted to have received the first order through our new US joint venture and to have made our first sale in Australia. Millbrook’s global reach is increasing and the range of applications for our sophisticated instruments is broadening all the time. Our success is driven by the growth of the global performance coatings market which has been estimated at $50 billion." 1 February 2006 DEALINGS IN COMPANY The Company was notified today that, following the disposal of 50,000 shares, Gledhow Investments plc no longer has a notifiable interest in the Company's ordinary shares. 1 February 2006 TRADING UPDATE AND APPOINTMENT OF FINANCE DIRECTOR Trading Update Trading in the second half of the year has been slower than expected. The conversion of some prospects to orders has suffered delays and the Company does not now anticipate meeting market expectations for the year ending 31 March 2006. As noted in our interim results announcement, unpredictability in the timing of order intake is an inevitable feature of the capital equipment sector. Delays in receipt of orders have arisen principally from customers failing to secure their capital budget allocations within the anticipated timescales. This is purely a timing issue and sustained demand for the Company’s products is unaffected. The list of sales prospects remains buoyant and the Company’s development programme is on track. Work on the automated version of the MiniSIMS TOF for a large Japanese electronics company is ahead of schedule. This £250,000 order will be delivered in the next financial year as planned. The Board is confident of continued strong growth in 2006/7. Appointment of Finance Director The Company is also pleased to announce that Paul Grasske will take over from Terry Bowman as Group Finance Director when Terry steps down on 31 March 2006. Paul is a Chartered Accountant who qualified at Grant Thornton and has held positions in the accounting profession and as finance director of a construction company. He joined the Group a year and a half ago, on the acquisition of Micro Materials Limited, which he had successfully managed for seven years. Paul will combine the role of Group Finance Director with that of Managing Director, Micro Materials Limited. This change will lead to a Board of five directors - a considerable reduction from the board of nine directors when the Company was admitted to AIM – and more in line with the Company’s requirements. 16 January 2006 DIRECTORATE CHANGES Millbrook Scientific Instruments plc ("the Company") announces that Dr Tim Steele has stepped down as a Director of the Company with immediate effect. Tim is one of the original founders of Millbrook and until 2003 was Technical Director of the Company. For the last two years Tim has been a non-executive director, dividing his time between Australia and the UK. The development of his business interests in Australia means that less time will be available for board commitments in the UK. However, the close link with the Company will remain. Tim will continue as Technical Consultant, and in this role he will continue to assist the company in product development and in the technical support of its installations around the world. He will also remain sales agent for the Company in Australia. The Company also announces that Terry Bowman will step down as a Director on 31 March 2006. After serving ably as Finance Director for nearly four years, Terry has expressed his wish to pursue other business interests. The Company will be recruiting a replacement as Finance Director within the ensuing weeks. 12 January 2006 CHANGE IN SIGNIFICANT SHAREHOLDING The Company was informed on 10 January 2006 by Messrs Boyden, Hemans and Llewelyn that they were now all acting independently of one another regarding their shareholdings in Millbrook and not as an Investor Group as was previously the case. None of Messrs Boyden, Hemens or Llewelyn individually has a notifiable interest in the Company's share capital. 29 December 2005 CHANGE IN SIGNIFICANT SHAREHOLDING The Company was informed on 28 December that the Investor Group consisting of Messrs Boyden, Hemans and Llewelyn sold on 22 December 2005 an aggregate of 1,550,000 ordinary shares in the Company and are now interested in 2,200,000 ordinary shares representing 5.84% of the Company's issued share capital. INTERIM RESULTS FOR 6 MONTHS ENDED 30 SEPTEMBER 2005 Millbrook Scientific Instruments plc, the designer and manufacturer of innovative scientific instruments that measure nanoscale properties of thin films and coatings, today announces its Interim Results for the six months ended 30 September 2005. Highlights
Commenting on the results, Dr Peter Stefanini, Executive Chairman of Millbrook Scientific Instruments plc, said: “We continue to generate good organic growth. Our dynamic development programme is already making a significant contribution to current profits and more importantly is underpinning future profits growth. Nanocoatings – which is the area where our instruments mainly get used - is one of the fastest growing and least speculative sectors of nanotechnology, so we find ourselves in the right market at the right time” To download a copy of the Interim Results, please click here (276 kb) HOLDING IN COMPANY The Company were today notified that R C Unwin has recently sold 200,000 ordinary shares in Millbrook and no longer has a notifiable interest in the Company. EXECUTIVE CHAIRMAN'S AGM STATEMENT Millbrook Scientific Instruments plc (AIM:MBK), the designer and manufacturer of innovative scientific instruments used for nanoscale investigations of surfaces, coatings and thin films, held its Annual General Meeting at 11am today. At the meeting, Dr Peter Stefanini, Executive Chairman of Millbrook Scientific Instruments plc, made the following statement: "This is the third Annual General Meeting of Millbrook Scientific Instruments PLC and I am delighted to be able to record another excellent year of progress. I am sure many of you will have read my statement in the Report & Accounts. I will therefore recap on only the most important elements of that statement and at the same time bring you up to date with more recent trading experience. Millbrook delivers on its promises. At the last AGM we promised that we would double the size of the Group through acquisition and then take the Company from OFEX to AIM. We fulfilled both of these promises and as a result we have a broader business in nanoscience, which - with an AIM listing - now has better access to capital for further expansion. We generated a positive profit at the EBITDA level for the first time last year. I believe that this represents a breakthrough, presaging increased profits in the years ahead. It has been achieved through impressive sales growth averaging 88% per year over a four-year period, high gross margins and careful control of overheads. We have continued to invest in high calibre people to ensure we continue to grow the business. The Queen's Award for Enterprise received for growth of 265% over three years in export markets for the MiniSIMS was fitting recognition for the efforts of our team in Blackburn who have worked unstintingly to achieve this export success. For the Group as a whole exports now represent 82% of sales and we have instruments at 150 sites worldwide. Since good experience of one instrument can facilitate the sale of another we are now well placed to expand within the current customer base. Moreover, we have only scratched the surface. The untapped market outside this base is many times larger. The engine for sales growth is the growth in surface engineering. The market for surface engineered products is growing rapidly. Monolithic materials are being replaced by coated or composite materials, in which layers are only nanometres thick. This is the change that is driving demand for nano-metrology and which will benefit our Group. Demand since 31 March 2005 has been strong. Orders received so far this year amount to over £723,000 and hot prospects account for a further £500,000. Orders have come from such diverse countries as China, India, South Korea, Taiwan, Finland and Singapore. On the basis of this early success, we believe that our performance in the first half will be in line with our targets and show significant growth over last year. In addition to sales growth of our existing products, we are extremely excited by the prospects for our new developments. Millbrook Instruments will launch the Time of Flight (TOF) MiniSIMS and the Large Sample MiniSIMS later this year. These will substantially extend penetration of the MiniSIMS into new sectors and help us to keep ahead of competition. Micro Materials continues to exploit its innovative technology in impact resistance testing as well as further extending the temperature range of nanotesting with new high and low temperature stages. Aquila has already introduced its new confocal microscope to the market. This enables measurement on curved and irregular surfaces. The ellipsometer version of the Aquila nkd will be launched later this year. The move to AIM has led to a much higher level of trading in our shares and the share mid-price now stands at 10.25p. This is a good 30% higher than for much of last year. There have been three changes to the Board since the last AGM. Firstly we were delighted to welcome Paul Grasske, managing director of Micro Materials in September 2004. He has a strong background in accounting and operations management. In the same month we welcomed Henry Boyden as a non-executive director, and we regret that he has had to step down, owing to his taking up a full-time executive position with another company. Finally David Lovering also stepped down from the Board to concentrate on the development of Aquila. We remain committed to expansion both organically and by acquisition. We have identified further acquisition prospects and are pursuing these. Our buy and build strategy is aimed not only at increasing the scale of the Group's operations, but also broadening its technology base and extending its market reach. Our objective is to make Millbrook a major player in nanoscience, because we believe this represents the best strategy for enhancing shareholder value over the medium to long term. I should like to thank all shareholders for your continued support." To download a copy of the 2005 Report & Accounts, please click here (286kb) 18 July 2005
DIRECTORATE CHANGE Millbrook Scientific Instruments plc (the "Company") announces that Henry Boyden has stepped down as a Director of the Company with immediate effect. Henry is taking up a full time position at another organisation which will leave him insufficient time to devote to the role of non executive director of the Company. Accordingly, Henry will not be submitting himself for re-election at the forthcoming AGM on Thursday 21 July. The investor group consisting of Henry Boyden, Jeremy Hemans and David Llewelyn remain committed shareholders but will not be seeking representation on the Board. Henry joined the Board last September since when he has made a distinctive and valuable contribution to Board discussions. The Board expresses its thanks to him and best wishes for the future. 29 June 2005
CHANGE OF HOLDING IN COMPANY The D.W. Harding No 2 Settlement Trust which holds 1,500,000 shares, or 3.96% of the Company's ordinary share capital, has ceased to be part of the investor group formerly consisting of The D.W. Harding No 2 Settlement Trust, Henry Boyden, Jeremy Hemans and David Llewelyn. This investor group - after the withdrawal of the D.W. Harding No 2 Settlement Trust - now holds 3,750,000 shares or 9.90% of the Company's ordinary share capital. David Harding has informed the Company that he remains a long term supportive shareholder of Millbrook 8 June 2005
DIRECTOR'S SHARE TRANSACTION Millbrook Scientific Instruments plc ('the Company') announces that, on 7th June 2005, Paul Grasske, a Director of the Company and Managing Director of its operating subsidiary Micro Materials Limited, sold 222,000 ordinary shares at 9.13p per share. This transaction was in accordance with the agreement made at the time the Company purchased Micro Materials Limited in September 2004, whereby Mr Grasske was entitled to dispose of up to 50% of the ordinary shares he acquired as a result of the acquisition. Mr Grasske retains 222,000 ordinary shares. 6 June 2005 MILLBROOK SCIENTIFIC INSTRUMENTS PLC - FINAL RESULTS Millbrook Scientific Instruments plc, the designer and manufacturer of innovative scientific instruments that measure nanoscale properties of thin films and coatings, announces its Final Results for the year ended 31 March 2005. Highlights
Commenting on the results, Dr Peter Stefanini, Executive Chairman, said: "Last year saw a substantial advance for Millbrook. Not only have we increased the scale of our operations but we have also made the Group significantly more profitable. We now have a broader and more secure base and will use this to strengthen our position globally. The move to AIM underlines the seriousness of our resolve to become a major player in the nanoscience sector." To download a copy of the Report & Accounts 2005 in pdf format, please click here (286kb) 24 March 2005 DIRECTORATE CHANGE With effect from 31 March 2005 Dr David Lovering is stepping down from the Millbrook Scientific Instruments PLC Board. He will continue as Managing Director of Aquila Instruments Limited. This change is in keeping with Dr Lovering’s wish to concentrate on the growth of Aquila and in particular the development of new products. Paul Grasske, Managing Director of Micro Materials Limited, will also assume board responsibility for Aquila Instruments Limited. 14 December 2004
Other Significant Shareholdings (above 3.0%) at 14 December 2004.
* H Boyden is a non-executive director and representative of a group of shareholders. 8 December 2004
Commenting on the results, Dr Peter Stefanini, Executive
Chairman of Millbrook Scientific Instruments plc, said: 22 October 2004 A Research Note summarising the recent performance and outlook for Millbrook Scientific Instruments plc has been prepared by Loeb Aron & Co. Limited, Corporate Advisor to Millbrook. To download a copy in pdf format, please click
here (199kb) 8 September 2004 DIRECTORATE CHANGES As already indicated in earlier announcements two new directors
joined the board of Millbrook Scientific Instruments PLC (Millbrook)
after completion of the acquisition of Micro Materials Limited
(MML) on Friday 3 September. Details on these directors are
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