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Definitely something that came through the door unexpected. No statement prepared and announced after hours.


I'll go with either a takeover bid for some largish premium but still a lowball offer or it is an offer to back another company in to it like ICV the other day and privatize the assets with an in-specie distribution.

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From the half-yearly report.....


"The current development agreement between the two companies expired on 22nd Feb 2010. As announced on 25/2/10, the parties have agreed to proceed to full commercialisation of the Bioeffective range of products into the animal health and nutrition markets. BioProspect and Solagran will now agree a commercialisation plan including the possibility of formation of a special purpose company or other entity to manage the process."


This seems to be announced because of time expiry of present arrangement and not as a result of results from specific trials, etc. Maybe the lack of results is due to the lack of cash.





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