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Issue of Shares

1 Jul 2005 12:39

Akers Biosciences, Inc.01 July 2005 Akers Biosciences, Inc. Issue of Shares Akers Biosciences, Inc. ("the Company") today announces it has issued 1,224,768shares to Platinum Partners Value Arbitrage Fund, L.P. ("Platinum"). Thecurrent transaction results from an agreement the Company entered into with twoinvestors on 11 March 2005. The funds referred to represent the conversion byPlatinum of $989,991 of principal of their note, as well as $17,739 of accruedinterest. The Company also announces that as a result of the same agreement referred to inthe preceding paragraph, it has issued 538,938 Common Shares, at no par value,to DKR SoundShore Oasis Holding Fund Ltd. ("DKR"), Platinum's co-investor, inconsideration for the conversion of $430,000 of the principal of their note, aswell as $13,439 of accrued interest. The transactions provide $1,451,169 of permanent equity through the issue of1,763,706 shares of common stock ("Common Shares"), at no par value, at $.82(£0.45 per share). Following these conversions, all of the outstanding principal amount of thenotes, as well as the accrued interest, has been fully paid. For the purpose of this announcement, the exchange rate used is £1:$1.82. Application has been made to the London Stock Exchange for the 1,763,706 CommonShares to be admitted to trading, such admission expected to take place on 5July 2005. Contact Paul B. Freedman - 001 856 848 2116. END This information is provided by RNS The company news service from the London Stock Exchange
Date   Source Headline
22nd Nov 200512:00 pmRNSHolding(s) in Company
15th Nov 20055:22 pmRNSHolding(s) in Company
14th Nov 20057:01 amRNSChange of Adviser
3rd Nov 20054:50 pmRNSIssue of Equity
17th Oct 20056:00 amPRNAdditional Listing
12th Oct 20055:17 pmRNSHolding(s) in Company
5th Oct 20056:00 amPRNTrading and Financing Update
27th Sep 20056:00 amPRNInterim Results
19th Sep 20056:00 amPRNNotice of Results
9th Sep 20056:00 amPRNSuccessful Outcome Of Litigation
5th Sep 20056:00 amPRNRe Distribution Agreement
26th Jul 20056:00 amPRNBusiness Update
1st Jul 200512:39 pmRNSIssue of Shares
30th Jun 200511:44 amRNSAnnual Report and Accounts
27th Jun 20056:00 amPRNUK Distribution Update
23rd Jun 20053:12 pmRNSIssue of Equity
22nd Jun 20054:19 pmRNSIssue of Equity
27th May 20057:00 amRNSIssue of Shares
12th May 200512:13 pmRNSIssue of Shares
28th Apr 20056:00 amPRNFDA Product Clearance
27th Apr 200512:37 pmRNSIssue of Equity
27th Apr 200510:32 amRNSDirector Shareholding
12th Apr 20055:49 pmRNSIssue of Equity
12th Apr 20056:00 amPRNFinal Results
14th Mar 20057:00 amPRNFinancing Agreement
1st Mar 20057:00 amPRNFDA Review On Akers Product
22nd Feb 20057:00 amPRNRe. Distribution Agreement
16th Feb 20055:22 pmRNSIssue of Equity
14th Feb 20057:00 amPRNRe Agreement
26th Jan 20054:28 pmRNSIssue of Equity
14th Jan 20057:00 amPRNTrading Update

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