Cambridge, UK, Dec. 13, 2004 (PRIMEZONE) --
BioProgress plc (the "Company")
BioProgress plc, a provider of innovative delivery mechanisms for the pharmaceutical oral dosage market, advises that on 16 November 2004 Larry Shattles, a director of the Company, and persons connected to him were allotted and issued a total of 341,373 new ordinary shares of GBP0.01 each in the capital of the Company (the "New Shares") in consideration for the transfer to the Company of an equivalent number of shares of series C preferred stock in BioProgress Technology International, Inc, previously owned by Larry Shattles.
Following the allotment Larry Shattles resultant holding of ordinary shares of GBP0.01 each in the capital of the Company is 341,373 representing approximately 0.30% of the Company's issued ordinary share capital.
Application will be made for the New Shares to be admitted to trading on the Alternative Investment Market of the London Stock Exchange plc. Admission of the New Shares is expected to become effective on 26 November 2004.
This information is provided by RNS
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