28 Sep 2007 07:00
Embargoed: 0700hrs 28 September 2007
Akers Biosciences, Inc. ("ABI" or the "Company") Directors Shareholding & Additional Listing
Akers Biosciences, Inc. which develops, manufactures, and supplies rapid, point of care screening and testing products announces that its directors have been granted options and/or warrants to purchase shares of the Company's common stock. The Company's non-executive directors have not been compensated with options since their agreements with the Company expired on 30 June, 2004.
David Wilbraham, Chairman, has received options to purchase 412,500 shares of common stock. The exercise price of such options will be 15.5p, today's closing market share price. The options shall vest as follows: 268, 125 options shall vest immediately, and the balance will vest in 21 equal monthly installments of 6,875 options per completed month of service as a non-executive director. The vested options can be exercised over a seven year period from date of vesting. Mr. Wilbraham's shareholdings currently total 868,000 common shares, representing 1.31% of the total issued share capital of the Company.
Edward Mulhare and Daniel Seckinger, M.D., have each received options to purchase 220,000 shares of common stock. The exercise price of such options will be 15.5p, today's closing market share price. The options shall vest as follows: 178,749 options shall vest immediately, and the balance will vest in 9 equal monthly installments of 4,583 options per completed month of service as a non-executive director. The vested options can be exercised over a seven year period from date of vesting. Mr. Mulhare's shareholdings currently total 864,150 shares.
Edward Wampold, a former non-executive director who retired in August 2007 has received warrants to purchase 165,000 shares of common stock. The exercise price of such options will be 15.5p, today's closing market share price, and the options shall vest immediately. The vested options can be exercised over a seven year period from date of vesting. Mr. Wampold's shareholdings currently total 249,394 common shares, representing 0.38% of the total issued share capital of the Company.
Thomas A. Nicolette, President and Chief Financial Officer, has received warrants to purchase 3,000,000 shares of common stock. The exercise price of such warrants will be 15.5p, today's closing market share price. The warrants shall vest as follows: 1,000,000 shall vest immediately; 1,000,000 shall vest on 28 September, 2008; and 1,000,000 shall vest on 28 September, 2009. The vested warrants can be exercised over a seven year period from date of vesting. Mr. Nicolette's shareholdings currently total 656,017 common shares, representing 0.99% of the total issued share capital of the Company.
Dr. Raymond F. Akers, Ph.D., Chief Executive Officer, has received warrants to purchase 3,000,000 shares of common stock. The exercise price of such warrants will be 15.5p, today's closing market share price. The warrants shall vest as follows: 1,000,000 shall vest immediately; 1,000,000 shall vest on 28 September, 2008; and 1,000,000 shall vest on 28 September, 2009. The vested warrants can be exercised over a seven year period from date of vesting. Dr. Akers' shareholdings, including his immediate family, currently total 7,902,702 common shares, representing 11.96% of the total issued share capital of the Company.
Daniel Seckinger, MD has received warrants to purchase 260,000 shares of common stock in lieu of $78,500 in fees. The exercise price of such warrants is $0.01, and the warrants will be exercised immediately. Dr. Seckinger's shareholdings currently total 774,888 common shares, representing 1.17% of the total issued share capital of the Company.
Application has been made to the London Stock Exchange for 260,000 New Ordinary Shares, which will rank pari passu with existing Ordinary Shares, to be admitted to trading, such admission expected to take place on 4 October 2007.
Enquiries:
Thomas A. Nicolette, President & CFO
Akers Biosciences, Inc.Tel. 001 856 848 8698Ben SimonsHansard GroupTel. 020 7245 1100
AKERS BIOSCIENCES INC