16 Sep 2008 15:17
16 September 2008
Akers Biosciences, Inc.
(the "Company")
Director/PDMR Shareholding
Akers Biosciences, Inc. a leading designer and manufacturer of rapid diagnostic screening and testing products, announces the following acquisitions of shares in the Company by directors and persons disseminating managerial responsibility:
David Wilbraham, Chairman, has converted £13,500 of director's fees into 84,375 common shares of nil par value, increasing his shareholding in the Company to 1,013,392 common shares, representing approximately 0.91 % of the enlarged issued share capital.
Edward Mulhare, Non-executive Director, has converted $16,875 of director's fees into 59,925 common shares of nil par value increasing his shareholding in the Company to 1,416,815 common shares, representing approximately 1.27 % of the enlarged issued share capital.
Leroy J. Meyers, VP Operations has exercised warrants over 134,183 common shares of nil par value increasing his shareholding in the Company to 174,283 common shares, representing approximately 0.16 % of the enlarged issued share capital.
The new common shares rank pari passu with the Company's existing issued common shares. Application has been made for the 278,483 common shares to be admitted to trading on AIM, and dealings are expected to commence on 22 September 2008.
Following Admission, the Company's enlarged issued share capital will comprise 111,345,096 common shares with voting rights. The Company does not hold any shares in treasury. This figure of 111,345,096 common shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules.
The exchange rate used for these transactions was 1.00 USD to 1.7602 GBP.
Enquiries:
Thomas A. Nicolette
President and CEO
Tel. +1 856 848 8698
Ben Simons or Eleanor Williamson
M:Communications
Tel. +44 (0)20 7153 1540
Alasdair Younie
Arbuthnot Securities Limited
Tel. +44 (0)20 7012 2000
END