AKR.L Regulatory News (AKR)

29 Jun 2007 08:26

Akers Biosciences, Inc.29 June 2007 29 June 2007 Akers Biosciences, Inc. Grant of Warrants Akers Biosciences, Inc. (the "Company") announces that on 15 February 2007,warrants over 463,499 common shares of nil par value in the share capital of theCompany ("Common Shares") were awarded to Thomas A. Nicolette (President) inconnection with his agreement to take up an executive position with the Company.The warrants have an exercise price of $0.01 and can be exercised at any pointup to five years following their grant. In addition, the information that was announced at the time that Mr. Nicolettewas appointed as a non-executive director of the Company on 11 May 2006regarding his interests in the Company was incomplete. At the time of hisappointment, as well as the 110,000 options as stated in the announcement at thetime, Mr. Nicolette was interested in 350,000 warrants as follows: Date Number of Warrants Exercise Price16 February 2005 100,000 $1.1715 April 2005 150,000 $0.8215 August 2005 100,000 $0.82 These warrants had been granted to Mr. Nicolette in satisfaction of two loans of$333,000 each that the Company had entered into with Mr. Nicolette in thepreceding 15 month period. In addition, after his appointment as a non-executive director of the Company,Mr. Nicolette was granted a further total of 200,000 warrants in 2006 asfollows: Date Number of Warrants Exercise Price30 June 2006 100,000 $1.111 September 2006 50,000 $1.116 November 2006 50,000 $0.83 These warrants were granted in satisfaction of a loan of $334,000 entered intobetween the Company and Mr. Nicolette in June 2006. This loan was paid off inDecember 2006 and there are no further loans outstanding between the Company andMr. Nicolette. In total, therefore, following this announcement, Mr. Nicolette is interested in110,000 options, 463,499 warrants with exercise prices of $0.01 and 550,000warrants with exercise prices of between $0.82 and $1.17. Contact Dr. Ray Akers, Chief Executive OfficerThomas Nicolette, PresidentTel. 001 856 848 8698 Bridgewell LimitedXavier de MolDan WebsterTel. 0207 003 3000 This information is provided by RNS The company news service from the London Stock Exchange