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.

There was an exhaustive debate on A.... about this. The consensus was that the ex- date is important. In other words, to qualify, you must have held shares after the close on 2nd December (not the record date 1st Dec). If you bought on 2nd Dec, you should be OK. If you sold on 2nd Dec, you won't qualify. Need to speak to your broker (they are also confused!) and the registrar needs informing about shares purchased on 2nd. That seems to be the view!!!

Got my letter from the share centre on Saturday. Think this is a brilliant growth prospect but usually dont bother with these issues. Think bones is right here.

cheers GF.

Yes, from what I now understand it the 2nd that is the important date.

If your not going to bother with the share issue GF I will happily take them off your hands @ 50p

Suprised that only 55% were taken up but the institutions were happy to take the rest

BioProgress PLC
29 December 2003

BioProgress plc (the 'Company')


Result of Extraordinary General Meeting
and
Take-up of the Placing and Open Offer of 14,559,444 Ordinary Shares of 1p each
at 50p per share


As set out in the circular dated 3 December 2003 (the 'Circular'), the special
resolution of the Company relating to the Placing and Open Offer was duly passed
by shareholders at the extraordinary general meeting held today at 11.00am.

The Company announces that the 1 for 6 Placing and Open Offer of 14,559,444 New
Ordinary Shares at 50p per share as detailed in the Circular closed at 3.00pm on
24 December 2003.

The Company received valid applications in respect of 8,071,117 Offer Shares
from Qualifying Shareholders, which represents an aggregate take-up of
approximately 55.4 per cent. In addition, each of the Directors who hold
Ordinary Shares and certain Shareholders irrevocably undertook not to take up
their entitlement of 2,519,354 Offer Shares and that entitlement was placed firm
with institutional and other investors. The balance of the Offer Shares not
taken up, being 3,968,973 Offer Shares have also been placed with institutional
investors.

It is expected that definitive share certificates in respect of the Offer Shares
will be dispatched to shareholders by 7 January 2004.

Application has been made for these Offer Shares to be admitted to the
Alternative Investment Market ('AIM'). Admission of the Offer Shares to AIM is
expected to become effective at 8.00 am on 31 December 2003.

Definitions used in the Circular apply in this announcement unless the context
otherwise requires.


For further information contact:


BioProgress plc 01354 655674



Graham Hind, Chief Executive

I have just had a friend remind me that the management agreed not to partake and that some overseas investers were not allowed to buy therefore actual take up was much higher than 55%

You bet you had a 'friend' remind you! 55% was the take up. The directors didn't fancy them and the yanks were lucky?

Hi jACK. Happy New Year to you.

A New Year resolution for you may be "I have got to get my downer on this share out of my system"!!!

Chin chin!
Bones

Hi Bones, Happy New Year to you too :)

Downer on BPRG? NEVER! Just a share, just a company, but one I wouldn't trust my poor old gran with :)

When are they due to start building that 'factory'? Worth a trip to March for a check-see?

Take care!
Jack

Anyone just hear CNN re BPRG? Can you elaborate? Missed it myself.

Graeme Dickson of Blue Index drew attention to BPRG as one to watch in 2004 on CNBC. With the present worry in USA about beef products re. BSE, any company that can replace geletine in the coating of drugs is on a winner on health,religious and moral grounds.

I believe Graeme Dickson on CNBC mentioned it as one of the stocks to watch for 2004.
Edit Sorry Tobyjug, never saw your post

From the recent RNS by BPGR


The Company received valid applications in respect of 8,071,117 Offer Shares from Qualifying Shareholders, which represents an aggregate take-up of approximately 55.4 per cent. In addition, each of the Directors who hold Ordinary Shares and certain Shareholders irrevocably undertook not to take up their entitlement of 2,519,354 Offer Shares and that entitlement was placed firm with institutional and other investors. The balance of the Offer Shares not taken up, being 3,968,973 Offer Shares have also been placed with institutional investors.

So all the rights shares have been taken up,and as yet there is no sign of them being dumped on the market even for a 30% profit Prior to the terms of the rights issue being announced (1 for 6 @ 50p) the price touched approx.74p they then fell to approx.60p when the terms where announced, they have sinced recovered to 67p, not a bad result I think ,it proves a lot of people have a lot of confidence in the future of BPRG.

Also mentioned on citywire last Friday Re Giles Hargreaves who runs the Marlborough Special Situations unit trust

"In the much-fancied biotech sector Hargreave likes Bioprogress (BPRG), which Citywire highlighted as attracting shrewd interest soon after its float when the shares were 26p compared with the current price of 64p."

Contract news just around the corner?, we have been told there issome.

cheers GF.

Not long now to buy at these lower prices. The big news will be out soon...............
LONDON (AFX) - BioProgress PLC, a provider of innovative delivery mechanisms
for the pharmaceutical oral dosage markets, said it signed a letter of intent
for a global strategic alliance with a major US pharmaceutical company, whose
identity remains confidential for the time being.
However, BioProgress said its US partner is a global leader in the
Over-the-Counter (OTC) medicines product sector.
A formal agreement will be completed by Jan 31 2004, it added.
Under the deal, the US company will buy an exclusive license for one of the
BioProgress XGEL dosage forms in a specific market sector and for the geographic
areas of North America and the EU.
BioProgress will receive a royalty on sales of all products which use the
dosage form.
Sales volumes under the agreement are expected to be substantial, so large
volumes of the BioProgress proprietary film will be required. The US company
will therefore establish a pharmaceutical standard (cGMP) film manufacturing
source in the US to supply their own film requirements under the exclusive
license. This source will also exclusively supply BioProgress with film for its
other technologies and customers in the North American market.
newsdesk@afxnews.com
ak/

cheers GF.

Strong looking chart.



Positive Candidate (Medium term) - Jan 8, 2004
Has risen 179% since the bottom on 2 Jul 2003 at 23.50. Is within a rising trend and continued advance within the current trend is indicated. On reactions back, there is support against the floor of the trend channel. A head and shoulders formation is, however, under development. A decisive break of the support at 60.00, ideally with an increase in volume, signals a further fall. Positive volume balance, i.e. high volume in days of rising prices and low volume in days of falling prices, strengthens the stock in the short term. The stock has support at p 60.00. High risk.


Period Vol.bal. Volatility Liquidity +/- %
1 day - 3.00% 62.94 -1.50%
5 days 66.50 10.81% 138.45 -2.24%
22 days 25.59 33.33% 90.54 +4.80%
66 days 14.90 93.76% 71.72 +20.18%

cheers GF.

GF,

You mention the "major US pharmaceutical company" contract, but of more immediate interest is the FMC contract which was due to have been signed by the end of 2003. The recent rights issue was to generate BPRGs share of the funding to build a film manufacturing facility to meet this contract.

http://www.uk-wire.com/cgi-bin/articles/200310200700060547R.html refers

FMC deal on track according to RNS today

I also received the following email from FMC this morning:

Mr. **********,
In response to your question below, the discussions with BioProgress are progressing nicely, and we expect an announcement regarding completion sometime in February after the conference call.

Best regards,

Eric W. Norris
Phone: 215-299-6538
Fax: 215-299-6931
E-mail: eric_norris@fmc.com

The conference call is on 3rd February.

Schweco nominees now hold 6%