10 Feb 2011 07:00
Embargoed: 0700hrs, 10 February 2011
Akers Biosciences, Inc
("ABI" or "the Company")
Issue of Equity
Directors' Holdings
The Board of Akers Biosciences, Inc (AIM: AKR) today announces that the warrants announced on 1 February 2011 have all been exercised, in respect of which the Company has issued and allotted 4,000,000 common shares of no par value ("Warrant Shares"). The exercise of the warrants has raised a further £160,000 in addition to the £2,000,000, before expenses, raised in the placing announced last week.
Application was made for the Warrant Shares to be admitted to trading on AIM, together with the 50,000,000 Placing Shares, and dealings in the Warrant Shares and Placing Shares will commence at 8.00am today, 10 February 2011.
The Warrant Shares and the Placing Shares will rank pari passu with the existing shares of the Company and, following admission, the total issued share capital of the Company will comprise 168,715,666 common shares of no par value.
Following the issue of the Warrants Shares, the holdings of the directors of ABI are as follows:
Name | Number of Warrant Shares issued | Total common shares held | Percentage of issued share capital | Outstanding options and warrants |
Raymond F. Akers | 921,636 | 8,824,338 | 5.2% | 6,550,000 |
Thomas A. Nicolette | 1,456,364 | 6,000,000 | 3.6% | 5,050,000 |
Edward A. Mulhare | 650,000 | 2,256,863 | 1.3% | 1,844,000 |
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Enquiries:
Akers Biosciences Thomas A. Nicolette, President and Chief Executive Officer | Tel: + 1 856 848 8698 |
Daniel Stewart & Company plc (Nomad and Broker) Antony Legge/Emma Earl | Tel: + 44 (0) 20 7776 6550 |
M: Communications Ben Simons | Tel: + 44 (0) 20 7920 2340 |
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About Akers Biosciences, Inc.
Akers Biosciences develops, manufactures, and supplies rapid, point of care screening and testing products designed to bring healthcare information both rapidly and directly to the consumer or healthcare provider. 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. ABI has aligned with major healthcare companies and high volume medical products 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.akersbiosciences.com