Last checked at 16 Sep 2022 16:19
Abingdon Health plc
("Abingdon" or "the Company")
Director/PDMR Dealing
York, U.K. 16 September 2022: Abingdon Health plc (AIM: ABDX), a leading international developer and manufacturer of high quality and effective rapid tests, announces that between 14 and 16 September 2022, Chris Yates, Chief Executive Officer and Dr Christopher Hand, Chairman, purchased a total of 250,000 and 800,000 ordinary shares of 0.25 pence each ("Ordinary Shares") respectively over a series of trades (the "Purchases").
The weighted average price of the shares Purchased by Dr Christopher Hand and Chris Yates was 6.338 pence and 6.274 pence per Ordinary Share respectively. Further to these transactions, the interests of the two directors are as follows:
Director | Previous number of Ordinary Shares held | Number of Ordinary Shares Purchased | Number of Ordinary Shares held following Purchases | Percentage of Ordinary Shares held following Purchases |
Dr Christopher Hand | 12,228,467 | 800,000 | 13,028,467 | 10.7% |
Chris Yates | 7,513,844 | 250,000 | 7,763,844 | 6.4% |
Concert Party
Further to the disclosures in the Company's Admission Document published 11 December 2020 ("Admission Document"), both Dr Christopher Hand and Christopher Yates are members of a concert party (the "Concert Party"). As a result of the Purchases, the aggregate number of Ordinary Shares held by the Concert Party has increased from 41,811,888 to 42,861,888, representing an increase from 34.35 per cent. to 35.21 per cent. of the issued share capital of the Company.
The Purchases were effected under the terms of Note 11 on Rule 9.1 of the Code and therefore have no consequences under the Takeover Code.
As set out in the Company's Admission Document, Chris Yates also holds 392,695 options over Ordinary Shares. It was agreed with the Panel prior to the Company's initial public offering that an obligation under Rule 9 will not arise as a result of the issue of new Ordinary Shares to members of the Concert Party following the exercise of those options referred to above, without the requirement to seek the approval of independent shareholders.
The Concert Party could therefore come to hold in aggregate up to 43,254,513 Ordinary Shares (following the exercise of all options held by its members only), representing a maximum potential interest of up to 35.42 per cent. of the enlarged share capital (as enlarged by such exercise).
Details of the transactions undertaken can be found in the Notification of Dealing Form below.
Enquiries:
Abingdon Health plc | www.abingdonhealth.com/investors/ | ||
Chris Yates, Chief Executive Officer | Via Walbrook PR | ||
Melanie Ross, Chief Financial Officer |
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Dr Chris Hand, Non-Executive Chairman |
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Singer Capital Markets (Sole Broker and Nominated Adviser) | Tel: +44 (0)20 7496 3000 | ||
Peter Steel, Alex Bond, Sam Butcher (Corporate Finance) |
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Tom Salvesen (Corporate Broking) |
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Walbrook PR Limited | Tel: +44 (0)20 7933 8780 or abingdon@walbrookpr.com | ||
Phillip Marriage / Alice Woodings | Mob: +44 (0)7867 984 082 / +44 (0)7407 804 654 | ||
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About Abingdon Health plc
Abingdon Health is a world leading developer and manufacturer of high-quality lateral flow rapid tests across all industry sectors, including healthcare and COVID-19. Abingdon is the partner of choice for a growing global customer base and takes projects from initial concept through to routine and large-scale manufacturing and has also developed and marketed its own labelled tests.
The Company offers product development, regulatory support, technology transfer and manufacturing services for customers looking to develop new assays or transfer existing laboratory-based assays to a lateral flow format. Abingdon Health aims to support the increase in need for rapid results across many industries and locations and produces lateral flow tests in areas such as infectious disease, clinical testing including companion diagnostics, animal health and environmental testing. Faster access to results allows for rapid decision making, targeted intervention and can support better outcomes. This ability has a significant role to play in improving life across the world. To support this aim Abingdon Health has also developed AppDx®, a customisable image capturing technology that transforms a smartphone into a self-sufficient, standalone lateral-flow reader.
Founded in 2008, Abingdon Health is headquartered in York, England.
For more information visit: www.abingdonhealth.com
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name
| Chris Yates | ||||
2
| Reason for the notification | |||||
a)
| Position/status | Chief Executive Officer | ||||
b)
| Initial notification /Amendment | Initial Notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a)
| Name | Abingdon Health plc | ||||
b)
| LEI
| 213800XFI4WV3FBILO20 | ||||
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
| |||||
a)
| Description of the financial instrument, type of instrument | Ordinary Shares of 0.025 pence each | ||||
Identification code | GB00BLF79J41 | |||||
b)
| Nature of the transaction
| Purchase of Ordinary Shares
| ||||
c)
| Price(s) and volume(s) | |||||
Price(s) | Volume(s) | |||||
5.89 pence | 50,933 | |||||
5.9499 pence | 50,000 | |||||
6.35 pence | 10,000 | |||||
6.375 pence | 25,000 | |||||
6.35 pence | 40,000 | |||||
6.4 pence | 24,067 | |||||
6.8 pence | 50,000 | |||||
d)
| Aggregated information | Total volume: 250,000 Ordinary Shares Volume weighted average price: 6.274 pence per Ordinary Share | ||||
e)
| Date of the transaction | 14 September 2022, other than purchases referred to in 4 c) of: i) 40,000 Ordinary Shares and 24,067 Ordinary Shares on 15 September 2022; and ii) 50,000 Ordinary Shares on 16 September 2022 | ||||
f)
| Place of the transaction | London Stock Exchange, AIM
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1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name
| Dr Christopher Hand | ||||
2
| Reason for the notification | |||||
a)
| Position/status | Chairman | ||||
b)
| Initial notification /Amendment | Initial Notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a)
| Name | Abingdon Health plc | ||||
b)
| LEI
| 213800XFI4WV3FBILO20 | ||||
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
| |||||
a)
| Description of the financial instrument, type of instrument | Ordinary Shares of 0.025 pence each | ||||
Identification code | GB00BLF79J41 | |||||
b)
| Nature of the transaction
| Purchase of Ordinary Shares
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c)
| Price(s) and volume(s) | |||||
Price(s) | Volume(s) | |||||
6 pence | 500,000 | |||||
6.9 pence | 300,000 | |||||
d)
| Aggregated information | Total volume: 800,000 Ordinary Shares Volume weighted average price: 6.338 pence per Ordinary Share | ||||
e)
| Date of the transaction | 500,000 Ordinary Shares were purchased on 14 September 2022 and 300,000 Ordinary Shares were purchased on 16 September 2022. | ||||
f)
| Place of the transaction | London Stock Exchange, AIM
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