Bioprogress is a stock I have been in and out of quite a few times since it floated in May but not much mention here on the Investors' Room. Does anyone else follow this stock. I see it is up 1.5p today and a few good buyers seem to have appeared.

Been quite regarding BPRG... only 5200 posts this week over the road as well!!! Very quiet!
Stanelco says court reserves judgement on appeal in Bioprogress case
AFX


LONDON (AFX) - Stanelco PLC said the court has reserved its judgement after Stanelco RF Technologies Ltd yesterday went back to court to argue that evidence which had come to light within the last few weeks in the continuing dispute with BioProgress Technology Ltd meant that the court should reverse its finding of breach of confidence by Stanelco.

Stanelco's case was that the documents which had been found showed that the information which BioProgress had argued at trial was confidential had actually been in the public domain for over 40 years.

After a full day's hearing, the court reserved its judgement due to the complexity of the issues which needed to be considered.

After the hearing, Stanelco chief executive Ian Balchin said: 'We regard the fact that the court has needed to reserve its decision as an indication of the seriousness of the point we've raised and its implications for both parties. We look forward to receiving the court's decision.'

If Stanelco's application is successful, Balchin said the company will not be liable to BioProgress at all in respect of its claim for breach of confidence. 'If we don't succeed then, leaving aside any costs issues, we'll be in just the same position as we are now.'

d2k - the eventual outcome is not as clear, methinks, but still a bit smoke and mirrors.

Lets hope the judge awards damages in favour of BPRG in direct proportion to SEO's delaying tactics!

Is this part of BPRG problems. (Cut and pasted from Shares Magazine)

For Wealth
Tax status confusion over BioProgress could force sale
Shareholders who purchased BioProgress
(BPRG:AIM) as part of an Individual Savings
Account (ISA) could be forced to sell the
stock at more than 40% below the price they
bought it.
BioProgess shares may now not qualify for
the tax-saving schemes as it is AIM-listed,
contrary to promises made by the company.
Bioprogress listed its American depository
receipts (ADRs) on US index NASDAQ in
October and believed that made it eligible for
ISA investment. If the shares are discovered
to be ineligible, investors might be forced by
the Inland Revenue to sell up within days.
Since the NASDAQ listing on 21 October
shares in Bioprogress, which makes gelatinfree
capsules, have dropped 43% from 125.5p
to 71.5p. Reyker Securities director Andrew
Watson says: You could be forced to sell. The
share price has gone right down and while
you could buy the shares back assuming
you have sufficient funds to do that that
would obviously involve trading costs.
Investors are able to hold up to 7,000 in an
ISA. PEP & ISA Managers Association (PIMA)
spokesman Simon Barrass says: From our
experience of the Inland Revenue it would
expect an ineligible stock to be removed as
soon as possible which I would suggest
would be a matter of days.
As recently as 19 November BioProgresss
website was telling investors: We have now
received confirmation from the Inland
Revenue that shares held in BioProgress by
individuals are now eligible to be held within a
PEP or an ISA, following the dual listing on
NASDAQ. Bosses have since pulled the
guidance and the website now says the firm is
seeking further clarification from the Inland
Revenue whether its shares are in fact eligible.
A PR spokesman for BioProgress says:
BioProgress did say it was its opinion the
shares were eligible and that everyone should
always consult their own adviser. The
company was told by the Inland Revenue its
shares could be used as part of an ISA or PEP
it has it in writing. The Inland Revenue
declined to comment.

Thanx for posting, interesting read...

comdirect are saying jan 2005 and will transfer shares to trading a/c

Anyone heard of Healthspan? Also their capsules have a very good seal!

RF? Who needs it?

Confidential agreements? I can see one right here in front of me on my desk, now where did that come from?! :)

your wife,husband or ????

Fred

There has been a bit of discussion about the above elsewhere. As far as I understand AIM shares can be bought within an ISA if there is a dual listing on a recognised foreign exchange.

My understanding is that they must be shares and not ADR's. The Nasdaq ADR listing will not count, but there was a question as to whether the "unwelcome" Berlin listing qualified.

Bit of a grey area and I'm afraid I've no sympathy for those that rushed in to buy via an ISA because at the end of the day the investor is responsible for ensuring they buy a qualifying stock.

As usual with BPRG, the muppet brigade have cocked it up for themselves.

Rayrac

As with all "inventions" nobody has a clean sweep! ;-)))))

I hold BPRG in wife's and my own SIPPs. Thinking of increasing stake. It is unusual for PEP managers to get it wrong and allow you to buy incorrect stock in ISA or PEP.

Wrong button Again

Or?

rayrac

Are you going to the ADVFN bash.

Looking to sell a 70.12 , soon.

bloodhound,

No afraid not, can't make this year and I'm not going to the other one either!

I have a prior booking with a male voice choir (base section)). My first love, but don't tell the wife :)

Isn't it quiet again. A little bit of a rise to day but needs a little more volume for a couple of days to make me happy.

Fred - she's having a struggle to get over 75p. Agreee volume required given the volumes on the way down, which were phenomenal. Feel it's entirely possible to hover round these levels for a month or two yet.

Check out a chart of July/Aug compared to now - see any similarities?

I have looked again I do see some similarities,. Agreed it would be nice to break the 75p resistance with a little higher volume and then on to about 91p over the next month. Preferably before Xmas. I am an optimist, thats why I poured a drink for myself rather than open my bottom draw.