28 Dec 2018 15:45
December 28, 2018
Akers Biosciences, Inc.
Director/PDMR Shareholding
Akers Biosciences, Inc. (NASDAQ: AKER) (AIM: AKR.L), (the "Company" or "Akers Bio"), a developer of rapid health information technologies, announces that, pursuant to the employment agreement between the Company and Howard R. Yeaton (Chief Executive Officer and Interim Chief Financial Officer of the Company) announced on October 12, 2018 which, following completion of the reverse stock split announced on November 16, 2018, provides for a monthly grant of 3,750 unrestricted shares of common stock of no par value ("Common Shares") pursuant to the Company's 2017 Equity Incentive Plan (the "Plan"), the Company has issued to Mr. Yeaton 7,500 Common Shares in respect of the share obligation for the months of October and November, 2018. These shares had a fair value per Common Share as at October 31, 2018 and November 30, 2018 of $2.80 and $1.51, respectively.
The Company will apply for the 7,500 Common Shares to be admitted to trading on AIM ("Admission") and Admission is expected to occur on January 7, 2019. Following Admission, the Company's issued share capital will consist of 12,482,708 Common Shares with no Common Shares held in treasury. This figure may therefore be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.
Inquiries:
Akers Biosciences, Inc.
Howard R. Yeaton, Chief Executive Officer and Interim Chief Financial Officer
Tel. +1 856 848 8698
finnCap (UK Nominated Adviser and Broker)
Ed Frisby / Scott Mathieson (Corporate Finance)
Tel. +44 (0)20 7220 0500
Vigo Communications (Global Public Relations)
Ben Simons / Fiona Henson
Tel. +44 (0)20 7390 0234
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.
Cautionary Note 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.
The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.
APPENDIX
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Howard R. Yeaton | ||||
2. | Reason for the Notification | |||||
a) | Position/status | PDMR - Chief Executive Officer and Interim Chief Financial Officer | ||||
b) | Initial notification/Amendment |
| ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Akers Biosciences, Inc | ||||
b) | LEI | 213800CSKAC96ELS4K25 | ||||
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 |
Common Shares of no par value | ||||
Identification code | US00973E3009 | |||||
b) | Nature of the transaction | Issuance of Common Shares | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information: · Aggregated volume · Price | 3,750 ordinary shares at a price of 295 cents for the month of October 2018 3,750 ordinary shares at a price of 152 cents for the month of November 2018 | ||||
e) | Date of the transaction | December 27, 2018 | ||||
f) | Place of the transaction | London Stock Exchange, AIM Market (XLON) / Nasdaq, USA | ||||