3 Jul 2007 07:00
Embargoed: 0700hrs, 3 July 2007
Akers Biosciences, Inc. (the "Company") Directors Share Purchase
Akers Biosciences, Inc., which develops, manufactures and supplies rapid, point of care screening and testing products, is pleased to announce that two of its directors have increased their shareholdings in the Company by way of a subscription to New Ordinary Shares.
David Wilbraham has invested ‚£25,000 by way of a subscription to 181,819 New Ordinary Shares at yesterday's closing price of 13.75 pence. The Company has also converted ‚£9,100 of fees due to Mr Wilbraham into 66,181 New Ordinary Shares at the same price. Mr Wilbraham's resultant total holding is 576,000 Ordinary Shares representing 0.93% of the issued share capital.
Edward Mulhare has invested ‚£4,330 by way of a subscription to 31,492 New Ordinary Shares at yesterday's closing price of 13.75 pence. The Company has also converted ‚£16,176 of fees due to Mr Mulhare into 117,643 New Ordinary shares at the same price. Mr Mulhare's resultant total holding is 864,150 Ordinary Shares representing 1.39% of the issued share capital.
In addition, the President of the Company, Thomas A. Nicolette has exercised warrants to purchase 463,499 New Ordinary Shares at an exercise price of $0.01. Mr Nicolette has also exercised options to purchase 110,000 New Ordinary Shares at an exercise price of $0.01. Mr Nicolette's resultant total holding is 573,499 Ordinary Shares representing 0.92% of the issued share capital.
Application will be made for 970,634 New Ordinary Shares, which will rank pari passu with existing Ordinary Shares, to be admitted to trading on AIM, and such admission is expected to occur on 6 July 2007.
The exchange rate used in these transactions is $2.00915: ‚£1.00.
Enquiries:
Thomas A. Nicolette, President
Akers Biosciences, Inc.Tel. 001 856 848 8698Ben SimonsHansard GroupTel. 020 7245 1100Bertie ClaytonBridgewellTel. 020 7003 3000
AKERS BIOSCIENCES INC