4 Jun 2008 07:00
4 June 2008
Akers Biosciences, Inc.
("ABI" or the "Company")
Option Agreement
Akers Biosciences, Inc., a leading designer and manufacturer of rapid diagnostic screening and testing products, is pleased to announce that it has entered into put and call options (the "Options") with a consortium of private investors, acting through Saltburn Limited (the "Investor"), a company incorporated in the Channel Islands, to invest in aggregate up to £2.275m in ABI through the subscription of up to 17,500,000 new common shares in the Company. The Options may be exercised by the Company up to and including 6 June 2008 and by the Investor thereafter until 16 June 2008.
Further details of the Options and the Company's use of proceeds, if exercised, will be announced in due course.
Enquiries:
Thomas A. Nicolette
President and CEO
Tel. +1 856 848 8698
Ben Simons or Eleanor Williamson
M:Communications
Tel. +44 (0)20 7153 1540
Alasdair Younie
Arbuthnot Securities Limited
Tel. +44 (0)20 7012 2139