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.

Only got +13 for mine , maybe I should get up earlier.

If you are in it for the day, I woudl be tempted to cash out now with the weak start on wall street.

Nice post bones.
Have been in this stock many years, had some worries but have done much research on this. BPRG has some seriously good patents and some very determined people.

If it fails at 140p then we could get a lower low , jury is out at the moment.

Looks like a surge of late buyers.

Sell, wouldnt dream of it if the news I got through just now is correct and it was last time three days before the last contract annoucement. Mind it aint over until the fat lady sings. Things can go wrong at the last minute.

The news will come from across the pond. Cant say anymore. Yearly results in about a weeks time.

cheers GF.

Leaky , leaky ..... good luck all.

a placing being announced with the deal to fund a film factory in the us @ 100p

Bioprogress plans placing at 100p
Tim Freeborn
Announcement likely next week; placing at very deep discount

BioProgress Technology Internatinal(BPRG), the current punters favourite, is planning a placing next week at 100p. One investor was told he had to pay by next Wednesday.

In December the company raised 7m at 50p to fund the building of a factory to make its patented Xgel film.

The new placing is likely to coincide with a deal with a US maker of non-prescription medicines. This was promised by the end of January but has apparently been delayed because BioProgress concentrated on the link-up with FMC Biopolymer which was announced on 4 February and sent the shares soaring.

BioProgress has made a habit of raising money at a deep discount. It was floated early last year at 14p, around a third below its price on the Nasdaq OTC market. The December placing was also a third below its then price.

Late morning Bioprogress shares were down 2.1% to 135p. The company plans to post its preliminary results for the trading period from 22 May 2003 to 31 December 2003 on Monday 8 March.


http://www.moneyam.com/action/news/showArticle?id=308938

How do we get our hands on these at 1 .... ?

Have now sold all mine at 130p+. Happy to have cash in the bank, initial purchase was at 34p and at various levels up to 103p. Will watch and wait to see what tranpires with announcements/fund raising, will buy back sometime no doubt.

.... or short it.

Is that Tim Freeborn article genuine ?

Cheers

Dil:The rumour has been doing the rounds for a few days, so who knows.

Thanks , can't get a sensible answer on advfn fbb .... like a zoo over there , chuck a banana skin in and they all start fighting :-)

Well the article is on Money.am's home page so it's hard to believe it's a fake.

Well the article is on Money.am's home page so it's hard to believe it's a fake.

Does this mean that owners will be offered shares at 100p like they were in Stanelco at 3p?

I don't think so angi. If true it will presumably be tied in with various contract completions and developments to be announced before or at the 8th March results. A placing is just that, a placing of shares with large investors. I would certainly like to see a stake taken by one of the US pharmas rather than the institutions. That would get tongues wagging!

Things are certainly moving fast with this stock!

If Freeborn is correct, and "one investor" has been told he must stump up cash by next week, then it can't be a rights issue - the timescale is totally wrong. So nothing for the PI's - but then BPRG just DID a rights issue, so shareholders can't complain.

If Freeborn is correct, then it must be a general placing, probably with institutions or "sophisticated" investors.

And - an important consideration - if Freeborn is correct, what's it FOR? They put a few mill in the bank back in December for the March film plant. What do they want more dosh for right now? A little thought brings up some interesting possibilities.......