14 Jun 2016 12:00
Akers Biosciences, Inc.
Issue of Equity & PDMR Shareholding
Akers Biosciences, Inc. (NASDAQ: AKER) (AIM: AKR.L), ("Akers Bio" or the "Company"), a developer of rapid health information technologies, announces that, pursuant to the Company's 2013 Incentive Stock and Award Plan (as amended), the Company has allocated for issuance an aggregate of 27,500 shares of the Company's restricted common stock, of no par value per share ("Restricted Shares") for nil consideration. The Restricted Shares are to be issued to John J. Gormally, Chief Executive Officer, and will vest as follows:
June 8, 2016 - 9,167 Restricted Shares
March 1, 2017 - 9,167 Restricted Shares
March 1, 2018 - 9,166 Restricted Shares
Application has been made for the 9,167 Restricted Shares which vested on June 8, 2016 to be admitted to trading on AIM ("Admission") and it is expected that Admission will take place on June 20, 2016. The new Restricted Shares will rank pari passu with the existing shares of the Company. Subsequent to Admission, the total number of issued ordinary shares will be 5,434,212 which is also the total number of voting rights in the Company. This figure may 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 Financial Conduct Authority's Disclosure and Transparency Rules.
As a result of these share awards, Mr. Gormally now holds a total of 11,667 common shares, representing 0.2 per cent. of the issued share capital. In addition, Mr. Gormally has an interest in a further 18,333 common shares that will vest as disclosed above.
About Akers Biosciences, Inc.
Akers Biosciences 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. Follow us on Twitter @AkersBio.
Cautionary Statement 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 Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements reflect the Company's expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. These statements include but are not limited to statements regarding the intended terms of the offering, closing of the offering and use of any proceeds from the offering. When used herein, the words "anticipate," "believe," "estimate," "upcoming," "plan," "target", "intend" and "expect" and similar expressions, as they relate to Akers Biosciences, Inc., its subsidiaries, or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties, and other factors that could cause the Company's actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements.
For more information, contact:
Akers Biosciences, Inc.
Raymond F. Akers, Jr. PhD
Co-founder and Chief Scientific Director
Tel. +1 856 848 8698
Taglich Brothers, Inc. (Investor Relations)
Chris Schreiber
Tel. +1 917 445 6207
Email: cs@taglichbrothers.com
finnCap (UK Nominated Adviser and Broker)
Adrian Hargrave / Scott Mathieson (Corporate Finance)
Steve Norcross (Broking)
Tel. +44 (0)20 7220 0500
Vigo Communications (Public Relations)
Ben Simons / Fiona Henson
Tel. +44 (0)20 7830 9700
Email: akers@vigocomms.com