Completion
21 8월 2007 - 4:01PM
UK Regulatory
RNS Number:5130C
BioProgress PLC
21 August 2007
For Immediate Release 21 August 2007
BioProgress plc ('BioProgress' or the 'Company')
Transfer of Rocgel Marketing Authorisation
Payment of deferred consideration
London, UK, 21 August 2007: BioProgress (AIM: BPRG), the specialty pharma and
healthcare company announces that it has completed the transfer of the marketing
authorisation of Rocgel(TM), an antacid used in the treatment of pain associated
with gastro-intestinal conditions, from Tonipharm to BioProgress. This
acquisition was announced on 17 May 2007 and completed on 18 May 2007.
Euro4.35 million of the acquisition consideration of the Euro7.85 million was paid on
completion by the issue of 5,370,629 BioProgress ordinary shares of #0.01 each.
The remaining Euro3.5 million of the acquisition price which is payable on the
transfer of the marketing authorisation will be paid in two stages. The first
stage is the payment of Euro2.0 million yesterday and the second stage will be the
payment of Euro1.5 million on 20 September. The Company satisfied the Euro2.0 million
paid yesterday by a cash payment of Euro1.25 million and Euro0.75 million by the issue
of 1,041,666 new ordinary shares to the vendors.
Application has been made for these new ordinary shares to be admitted to
trading on the AIM market of the London Stock Exchange. It is expected that
dealings will commence on 21 August 2007. The new ordinary shares rank pari
passu in all respects with the existing issued share capital of the Company.
For further information:
BioProgress Plc + 44 (0) 20 7098 9881
Richard Trevillion, CEO
Steve Martin, CDO
Hiral Patel, CFO
Buchanan Communications + 44 (0) 20 7466 5000
Rebecca Skye Dietrich
Mark Court
Nomura Code Securities Limited + 44 (0) 20 776 1200
Richard Potts
About BioProgress
BioProgress plc is an innovative specialty pharmaceutical and healthcare
business based around its platform technologies in polymer and film systems.
Listed on London's AIM in May 2003. The company has over 80 patents granted or
in application within 24 patent families and has product development agreements
and strategic alliances with several global companies. As a virtually integrated
business, BioProgress has acquired sales and marketing resources within Europe
and the US as a launch mechanism for its own pharmaceutical products. The
business continues to develop innovative delivery mechanisms using its XGELTM
polymer technology. For further information please go to www.bioprogress.com
Forward-Looking Information.
The Ordinary Shares of BioProgress plc are registered under the US Securities
and Exchange Act of 1934. To the extent that this announcement contains certain
"forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995, this paragraph applies. These statements are
based on management's current expectations and are subject to uncertainty and
changes in circumstances. Actual results may vary materially from the
expectations contained in the forward-looking statements. The forward-looking
statements in this release include statements addressing future financial and
operating results and the timing and benefits of the reorganisation. Detailed
information about factors pertinent to the business of the company that could
cause actual results to differ is set forth in the Company's filings with the
Securities and Exchange Commission. The Company is under no obligation to (and
expressly disclaim any such obligation to) update or alter its forward-looking
statements whether as a result of new information, future events or otherwise.
This announcement is for information only and does not constitute an offer or
invitation to acquire or dispose of any securities or investment advice. The
distribution of the announcement and/or issue of securities in certain
jurisdictions may be restricted by law. Persons into whose possession this
announcement comes are required to inform themselves about and to observe such
restrictions.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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