29 Jun 2018 07:00
June 29, 2018
Akers Biosciences, Inc.
Temporary Suspension of Share Trading on London Stock Exchange
Akers Biosciences, Inc. (NASDAQ: AKER) (AIM: AKR.L), ("Akers Bio" or the "Company"), a developer of rapid health information technologies, announces that, further to the Company's announcement of June 20, 2018, due to the work ongoing to review and make appropriate adjustments to certain previously filed financial statements, including the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2017 (the "Annual Report"), the Company is unable to publish a revised Annual Report and to post this to shareholders by June 30, 2018. Accordingly, pursuant to Rule 19 of the AIM Rules for Companies, the Company has requested that trading in the Company's ordinary shares on the AIM Market of the London Stock Exchange ("AIM") be suspended with effect from 7.30 a.m. on July 2, 2018 pending publication of the revised Annual Report, following which the Company will request the suspension to be lifted.
The Company will publish the revised Annual Report as soon as possible and will update the market further when it has more clarity on the timing of this.
This announcement has no effect on the trading of the Company's shares on Nasdaq Capital Market, which continues as normal.
Contacts:
Akers Biosciences, Inc.
John J. Gormally, Chief Executive Officer
Tel. +1 856 848 8698
finnCap (UK Nominated Adviser and Broker)
Adrian Hargrave / Scott Mathieson (Corporate Finance)
Steve Norcross (Broking)
Tel. +44 (0)20 7220 0500
Vigo Communications (Global Public Relations)
Ben Simons / Fiona Henson
Tel. +44 (0)20 7390 0231
Email: akers@vigocomms.com
About Akers Biosciences, Inc.
Akers Bio 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
This release included herein, and any statements of representatives and partners of the Company related thereto contain, or may contain, among other things, certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements reflect the Company's expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. Such statements may include, without limitation, statements with respect to the Company's plans, compliance with the requirements of various regulatory agencies, objectives, projections, expectations and intentions and other statements identified by words such as "projects," "may," "will," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans," "potential" or similar expressions as they relate to the Company, its subsidiaries, or its management. These statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties, including those detailed in the Company's filings with the Securities and Exchange Commission. Actual results (including, without limitation the timing of the filing of the Company's revised Annual Report, the actual amounts deferred and recognized in such revised Annual Report once such amounts are subject to audit, and the temporary suspension and potential resumption of the trading of the Company's ordinary shares on AIM), performance, prospects, and opportunities, may differ materially from those set forth in, or implied by, the forward-looking statements. These forward-looking statements involve certain risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company's control). The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.