30 Dec 2013 07:00
30 December 2013
Akers Biosciences, Inc.
("ABI"or the "Company")
Issue of Equity
NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION OR DISSEMINATION IN OR INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION
Akers Biosciences, Inc. (AIM:AKR), a leading designer and manufacturer of rapid diagnostic screening and testing products, announces that further to its announcement of 23 December 2013 regarding the placing of depositary interests representing commons shares of no par value ("Common Shares") in the Company (the "Placing"), the Company has agreed to reduce the level of the Placing as a placee has been unable to meet his commitments in the timeframe. Accordingly, the level of the Placing is now approximately £490,510, comprising of 114,072 Common Shares (the "Placing Shares") to institutional and other investors at a price of 430 pence per share. The net proceeds received by the Company, taking into account the shares taken in lieu of fees and expenses by the Company's advisers, is £457,985..
The Placing Shares have been issued on a non-pre-emptive basis pursuant to the Company's existing shareholder authority.
The Placing Shares have been issued as fully paid and rank pari passu in all respects with the existing common shares, including the right to receive all dividends and other distributions declared on or after the date on which they are issued. Application has been made for admission to AIM of the Placing Shares ("Admission") which is now expected to occur, and trading to commence, on or around 8.00 am on 31 December 2013.
Total voting rights
Following Admission, the Company's total issued share capital will comprise of 2,167,837 Common Shares. This figure 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 to their interest in, the share capital of the Company following Admission.
About Akers Biosciences, Inc.
Akers Biosciences develops, manufactures, and supplies rapid, point‐of‐care screening and testing products designed to bring health status 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, since time is always of essence. ABI is aligned with high volume medical product distributors to help facilitate the Company's growth into a major, worldwide competitor in the field of rapid diagnostics. Additional information on the Company and its products can be found at www.akersbiosciences.com
Enquiries:
Thomas A. Nicolette
President and CEO
Tel. +1 856 848 8698
Antony Legge or James Thomas
Daniel Stewart & Company plc (Nomad and Broker)
Tel. +44 (0)20 7776 6550