AKR.L Regulatory News (AKR)

9 Apr 2008 07:00

Akers Biosciences, Inc.09 April 2008 Embargoed: 0700hrs, 9 April 2008 Akers Biosciences, Inc. (the "Company") Director/PDMR Share Purchase Akers Biosciences, Inc. a leading designer and manufacturer of rapid diagnosticscreening and testing products, announces the following acquisitions of sharesin the Company by directors and persons disseminating managerial responsibility: Thomas A. Nicolette, the Company's President and Chief Executive Officer, hasexercised warrants over 1,737,619 common shares at par value increasing hisshareholding in the Company to 2,393,636 common shares, representingapproximately 3.38% of the enlarged issued share capital. These warrants are theprimary instrument in Thomas A. Nicolette's remuneration package which beganlast year. Edward Mulhare, Non Executive Director, has acquired 455,950 common shares at13.75p per share through the Company's Direct Purchase Plan established at the2007 Annual General Meeting of the Company. This investment by Edward Mulhareincreases his holding in the Company to 1,356,890 common shares, representingapproximately 1.92% of the enlarged issued share capital. Robert J. Paratore, who was recently promoted to the position of Chief FinancialOfficer has exercised, for tax purposes only, options over 50,000 common sharesat 10p per share. As a result of this exercise of options Robert J. Paratore nowowns 60,000 shares in the Company, representing approximately 0.08% of theenlarged issued share capital. Application has been made for the 2,243,569 common shares to be admitted totrading on AIM, such admission expected to take place on 14 April 2008. Following Admission, the Company's enlarged issued share capital will comprise70,797,789 common shares with voting rights. The Company does not hold anyshares in treasury. This figure of 70,797,789 common shares may be used byshareholders in the Company as the denominator for the calculations by whichthey will determine if they are required to notify their interest in, or achange in their interest in, the share capital of the Company under the FSA'sDisclosure and Transparency Rules. The exchange rate used for these transactions was 1.99384 USD to 1.00 GBP Enquiries: Thomas A. NicolettePresident and CEOTel. +1 856 848 8698 Ben Simons or Eleanor WilliamsonM:CommunicationsTel. +44 (0)20 7153 1540 Alasdair YounieArbuthnot Securities LimitedTel. +44 (0)20 7012 2000 This information is provided by RNS The company news service from the London Stock Exchange