Last checked at 23 Apr 2024 09:43
23 April 2024
Avacta Group plc
("Avacta" or the "Group" or the "Company")
Block Listing Application to AIM
Avacta Group plc (AIM: AVCT), a life sciences company developing innovative, targeted oncology drugs and powerful diagnostics announces application has been made to AIM for a block listing of 6,613,808 ordinary shares of 10 pence each in the Company ("Ordinary Shares"). This will be used to facilitate the admission of shares to trading following the exercise of options granted under the following two share schemes:
· The EMI Scheme - 113,808 Ordinary Shares
· The LTIP/ESOS Scheme - 6,500,000 Ordinary Shares
The Ordinary Shares will be issued from time to time pursuant to the Company's existing plans including outstanding options already issued but not yet exercised to the employees of the Company. New Ordinary Shares issued following option exercises and admitted to trading under the block admission will rank pari passu in all respects with the existing Ordinary Shares.
The block listing is expected to become effective on 26 April 2024. The Company will continue to make six-monthly announcements of the utilisation of the block admission, in line with its obligations under AIM Rule 29.
At the time of this announcement, Avacta has 359,042,104 Ordinary Shares in issue. 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 in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.
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For further information from Avacta Group plc, please contact:
Avacta Group plc Alastair Smith, Chief Executive Officer Tony Gardiner, Chief Financial Officer Michael Vinegrad, Group Communications Director
| Tel: +44 (0) 1904 21 7070 www.avacta.com |
Stifel Nicolaus Europe Limited (Nomad and Joint Corporate Broker) Nicholas Moore / Nick Adams / Samira Essebiyea / Nick Harland / Ben Good
| Tel: +44 (0) 207 710 7600 www.stifel.com |
Peel Hunt (Joint Corporate Broker) James Steel / Chris Golden / Patrick Birkholm | Tel: +44 (0) 207 418 8900 www.peelhunt.com
|
ICR Consilium (Media and IR) Mary-Jane Elliott / Jessica Hodgson / Sukaina Virji | avacta@consilium-comms.com |
About Avacta Group plc - https://www.avacta.com
Avacta Group is a UK-based life sciences company focused on improving healthcare outcomes through targeted cancer treatments and diagnostics.
Avacta has two divisions focused on therapeutics and diagnostics.
Avacta Therapeutics: a clinical stage oncology biotech division harnessing proprietary therapeutic platforms to develop novel, highly targeted cancer drugs.
Avacta Diagnostics: focused on supporting healthcare professionals and broadening access to diagnostics.
Avacta has two proprietary platforms, pre|CISION™ and Affimer®.
The pre|CISION™ platform is a highly specific substrate for fibroblast activation protein (FAP) which is upregulated in most solid tumours compared with healthy tissues. The pre|CISION™ platform harnesses this tumour specific protease to activate pre|CISION™ peptide drug conjugates and pre|CISION™ antibody/Affimer® drug conjugates in the tumour microenvironment, reducing systemic exposure and toxicity, allowing dosing to be optimised to deliver the best outcomes for patients.
The lead pre|CISION™ programme AVA6000, a peptide drug conjugate form of doxorubicin, is in Phase 1 studies. It has shown a dramatic improvement in safety and tolerability in clinical trials to date compared with standard doxorubicin and preliminary signs of clinical activity in multiple patients.
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