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Market Cap: £320.85m
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Issue of Equity

28 Aug 2013 07:00

RNS Number : 5672M
Avacta Group PLC
28 August 2013
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Press Release

28 August 2013

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Avacta Group plc

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("Avacta" or the "Group")

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Issue of Equity

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Avacta Group plc (AIM:AVCT), a global provider of innovative diagnostic tools, consumables and reagents aimed at reducing the cost of human and animal healthcare, today announces that, following agreement of the Deferred consideration in respect of the acquisition of Reactivlab Limited on 9 March 2010, Deferred consideration of Β£54,041.47 will be paid. This deferred consideration will be satisfied by the issue of 3,602,765 ordinary shares of 0.1p ("Ordinary Shares").

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Additionally, the Group announces that 1,000,000 Ordinary shares have been issued by the Company pursuant to the exercise of share options by a former employee.

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Application has been made for 4,602,765 new Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on 30 August 2013.

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The total number of Ordinary Shares in issue following the above issue will be 4,016,493,134 each with voting rights. No Ordinary Shares are held in Treasury.

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The above figure of 4,016,493,134 shares 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 FSA's Disclosure and Transparency Rules.

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- Ends -

Enquiries:

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Avacta Group plc

Alastair Smith, Chief Executive Officer

Tim Sykes, 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

Tel: +44 (0) 207 260 1000

www.numiscorp.com

Media Enquiries

Abchurch Communications

Sarah Hollins / Joanne Shears / Harriet Rae

harriet.rae@abchurch-group.com

Tel: +44 (0) 207 398 7700

www.abchurch-group.com

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Notes to Editors:

Avacta Group plc is a global provider of innovative technologies, consumables and reagents for the life science markets, from drug discovery to diagnostics.

Avacta's products address one of the most significant global challenges facing mankind today - the rapidly rising cost of healthcare for a growing and ageing population.

The cost of healthcare is driven by many factors. New drugs are expensive to develop, most don't reach the patient and those that do are often very costly to prescribe. Inadequate, incorrect or slow diagnosis causes delays that lead to longer or less effective courses of treatment resulting in lengthy or repeated hospitalisation.

Avacta is dedicated to developing and providing innovative and practical tools to help drug developers get their products to market quicker and more reliably, and to providing clinicians with rapid and powerful diagnostics to improve patient treatment, helping to reduce the cost of healthcare worldwide.

Avacta joined AIM in August 2006 and is based in Wetherby, England.

For further information visit www.avacta.com

This information is provided by RNS
The company news service from the London Stock Exchange
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