Last checked at 7 Apr 2016 07:00
07 April 2016
Avacta Group plc
("Avacta" or "the Group" or "the Company")
Director's Dealing
Avacta Group plc (AIM: AVCT), the developer of Affimer® biotherapeutics and research reagents, announces that application has been made to AIM for the admission of 899 new ordinary shares of 10p each (the "New Ordinary Shares").
The New Ordinary Shares have been allotted pursuant to the purchase by Michael Albin, Non-Executive Director of the Company, of new ordinary shares in accordance with the terms set out in the Company's announcement of 23 February 2016.
As set out in the Company's announcement of 23 February 2016, on 22 February 2016 Mr Albin entered into a binding commitment to purchase £3,125 of new Avacta shares per quarter and the New Ordinary Shares represent his investment for the period of 1 March 2016 to 31 March 2016. Mr Albin purchased the New Ordinary Shares on 6 April 2016 at a price of 115.8 pence per share.
Following admission of the 899 New Ordinary Shares to trading on AIM, the total number of ordinary shares with voting rights in issue will be 68,373,889 and this figure may be used by shareholders 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 Company under the Financial Conduct Authority's Disclosure and Transparency Rules.
Admission of the New Ordinary Shares ("Admission"), which will rank pari passu in all respects with the Company's existing shares in issue, is expected to occur on 12 April 2016. Following Admission, Mr Albin will be interested in a total of 899 ordinary shares of 10p each in the Company, representing less than 0.1% of the Company's issued share capital.
Enquiries:
Avacta Group plc Alastair Smith, Chief Executive Officer Tony Gardiner, Chief Financial Officer
| Tel: +44 (0) 844 414 0452 www.avacta.com |
Numis Securities Limited Michael Meade / Freddie Barnfield - Nominated Adviser James Black - Corporate Broking
WG Partners David Wilson Nigel Barnes Claes Spang
| Tel: +44 (0) 207 260 1000 www.numiscorp.com
Tel: +44 (0) 203 705 9318 Tel: +44 (0) 203 705 9217 www.wgpartners.co.uk
|
Media Enquiries FTI Consulting Simon Conway / Natalie Garland-Collins | Tel: +44 (0) 203 727 1000 avacta@fticonsulting.com |
Notes to Editors
Avacta Group plc (www.avacta.com)
Avacta's principal focus is on its proprietary Affimer® technology which is a novel engineered alternative to antibodies that has wide application in Life Sciences for diagnostics, therapeutics and general research and development.
Antibodies dominate markets worth in excess of $50bn despite their shortcomings. Affimer technology has been designed to address many of these negative performance issues, principally; the time taken to generate new antibodies, the reliance on an animal's immune response, poor specificity in many cases, and batch to batch variability. Affimer technology is based on a small protein that can be quickly generated to bind with high specificity and affinity to a wide range of protein targets.
Avacta has a pre-clinical biotech development programme with an in-house focus on oncology and bleeding disorders as well as several partnered development programmes. Avacta is commercialising Affimer reagents through custom Affimer services to provide bespoke solutions to customers and via a growing on-line catalogue of Affimer reagents.