UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
Pursuant to Rule 13a-16 or 15d-16 under the Securities Exchange Act of 1934
For the Month of February
Commission File Number 000-50994
BioProgress PLC
(Translation of registrant’s name into English)
15-17 Cambridge Science Park
Milton Road, Cambridge CB4 0FQ
United Kingdom
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F X Form 40-F
Indicate by check mark whether registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes No X
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):N/A
.
For Immediate Release 12 February 2007
BIOPOROGRESS PLC
Grant of Share Option
Following a decision in October 2006 the Board of BioProgress PLC (AIM: BPRG;
NASDAQ: BPRG) granted the following options to Executive Directors to subscribe
for Ordinary Shares of GBP0.01 each in the Company on 7 February 2007 under the
Executive Share Option Scheme 2005:
Executive Director Number of options
Richard Trevillion 1,602, 850
Steve Martin 712,378
Richard Trevillion and Steve Martin's options were granted at an exercise price
of 44.92p per share and only become exercisable if the Company's share price is
more than 134.8p for three out of five consecutive days following the date of
grant.
Furthermore, on 7 February 2007 the following Executive Director was granted
options to subscribe for Ordinary Shares of GBP0.01 each in the Company under
the Executive Share Option Scheme 2005:
Executive Director Number of options
Hiral Patel 75,912
Hiral Patel's options were granted at an exercise price 68.5p per share and only
become exercisable if the company's share price is more than 205.5p for three
out of five consecutive days following the date of grant.
Following the above grants Richard Trevillion now holds a total of 7,602,850
options in the Company, Steve Martin now holds a total of 1,463,237 options in
the Company and Hiral Patel holds a total of 75,912 options in 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
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 and on US NASDAQ in October 2004, 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 an 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, replacing the need to use
animal-derived gelatine in pharmaceutical and healthcare products. 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.
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.