20 Jul 2018 15:00
July 20, 2018
Correction: the announcement which follows amends certain information previously announced by Akers Biosciences, Inc. (the "Company") through RNS on February 16, 2018 with RNS Number 1898F, under the heading "Issue of Equity". The figure in that announcement of 4,705,500 for the aggregate number of Common Shares over which the Company received warrant exercise notices was overcounted by 131,643 Common Shares, as a result of an administrative error on the Company's US Share Register report. The proceeds announced as received from the exercise of warrants was therefore overstated by $24,683. Consequently, the Company's issued share capital was then overstated by 131,643 Common Shares in the February 16, 2018 announcement and in each of the subsequent "Issue of Equity" announcements since that date, on March 2, March 9, March 16, March 26, April 6, and April 13, 2018. The Company will apply for the cancellation of the 131,643 Common Shares which were incorrectly included. The revised February 16, 2018 "Issue of Equity" announcement appears below.
Akers Biosciences, Inc.
Issue of Equity
Akers Biosciences, Inc. (NASDAQ: AKER) (AIM: AKR.L), ("Akers Bio" or the "Company"), a developer of rapid health information technologies, announces that the Company has received further exercise notices from warrant holders to exercise warrants over an aggregate 4,573,857 shares of common stock of no par value, with an exercise price of $0.1875 per share, granted pursuant to the Public Offering announced on December 19, 2017. Accordingly, the Company has received proceeds from the exercise of these warrants of $857,598.
The Company has applied for admission of the 4,573,857 common shares to AIM which took place on February 22, 2018 ("Admission"). Following Admission, the Company's issued share capital at February 22, 2018 consisted of 78,427,321 common shares with no common shares held in treasury.
Enquiries:
Akers Biosciences, Inc.
John J. Gormally, Chief Executive Officer
Tel. +1 856 848 8698
finnCap (UK Nominated Adviser and Broker)
Adrian Hargrave / Scott Mathieson (Corporate Finance)
Steve Norcross (Broking)
Tel. +44 (0)20 7220 0500
Vigo Communications (Global Public Relations)
Ben Simons / Fiona Henson
Tel. +44 (0)20 7830 9704
Email: akers@vigocomms.com
About Akers Biosciences, Inc.
Akers Bio develops, manufactures, and supplies rapid screening and testing products designed to deliver quicker and more cost-effective healthcare information to healthcare providers and consumers. The Company has advanced the science of diagnostics while responding to major shifts in healthcare through the development of several proprietary platform technologies. The Company's state-of-the-art rapid diagnostic assays can be performed virtually anywhere in minutes when time is of the essence. The Company has aligned with major healthcare companies and high volume medical product distributors to maximize product offerings, and to be a major worldwide competitor in diagnostics.
Additional information on the Company and its products can be found at www.akersbio.com. Follow us on Twitter @AkersBio.
Cautionary Statement Regarding Forward Looking Statements
Statements contained herein that are not based upon current or historical fact are forward-looking in nature and constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements reflect the Company's expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. Such statements may include, without limitation, statements with respect to the Company's plans, compliance with the requirements of various regulatory agencies and certain NASDAQ Stock Market listing rules, objectives, projections, expectations and intentions and other statements identified by words such as "projects," "may," "will," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans," "potential" or similar expressions, as they relate to the Company, its subsidiaries, or its management. These statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties, including those detailed in the Company's filings with the Securities and Exchange Commission. Actual results, performance, prospects, and opportunities to may differ materially from those set forth in, or implied by, the forward-looking statements. These forward-looking statements involve certain risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company's control). The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.