Long-standing OFEX venture Kiotech International has seen its shares rise 68% since moving to AIM but the price is back down to just above the 7p level at which £1.8m was raised on admission at the end of June.

Up until now, the group’s main focus has been on producing a bait additive for recreational anglers called Ultrabite. This fish Viagra relies on obtaining distribution deals with major companies servicing this market. In late September Kiotech agreed such a contract with US giant Rapala. This saw existing chief executive John Loftus move to market Ultrabite within Rapala.

This left chairman Nick Scott free to give full attention to developing products for the commercial fishing and fish farming market in association with Government agency CEFAS. Tests are currently being carried out on pheromones that can stimulate cod to feed faster. This means they grow quicker, less food is wasted and margins are increased for fish farmers.

This activity has attracted entrepreneur Peter Lawrence onto the group’s board. Lawrence built up his eponymous AIM-listed group into a leading distributor of pet products and is now focusing on developing animal drugs. He will be able to offer invaluable advice on marketing the group’s products to fish farmers. A high risk punt.

Kiotech International	AIM	£2.81m	1.12p	0.00p
Click here for interactive charting
Other company articles:
New diet to hook fish			01/05/2007
Kiotech International			28/12/2005
Newcomer – Kiotech International			30/06/2005
Kiotech International			24/08/2001