Last checked at 8 Jun 2023 10:39
8 June 2023
Fusion Antibodies plc
("Fusion" or the "Company")
Result of General Meeting
and
Total Voting Rights
Fusion Antibodies plc (AIM: FAB), specialists in pre-clinical antibody discovery, engineering and supply for both therapeutic drug and diagnostic applications, announces that at the general meeting of the Company, held earlier today, all resolutions were duly passed.
Following the passing of the resolutions, the Company has raised a total of £1,671,938.40 pursuant to the Fundraise, details of which were announced on 19 May 2023 and 23 May 2023. Application has been made for the admission of the 25,830,252 Second Tranche Placing Shares, the 2,740,000 Subscription Shares and the 2,267,022 Retail Offer Shares to trading on AIM ("Second Admission") and Second Admission is expected to occur on 12 June 2023.
Directors' holdings
Details of the interests of the Directors who participated in the Fundraise and their resultant holdings of Ordinary Shares following Second Admission are as follows:
Director/PDMR/PCA | Existing beneficial shareholding | Subscription Shares subscribed for | Beneficial shareholding on Second Admission | Percentage of enlarged issued share capital |
Simon Douglas | 255,800 | 200,0001 | 455,800 | 0.77% |
Adrian Kinkaid | 4,000 | 140,000 | 144,000 | 0.24% |
Sonya Ferguson | 102,567 | 400,000 | 502,567 | 0.85% |
Colin Walsh2 | - | 600,0003 | 600,000 | 1.01% |
Hamniv (GP) Limited4 | - | 1,400,000 | 1,400,000 | 2.35% |
1 Subscription Shares applied for by relatives of Simon Douglas
2 Colin Walsh is the Chief Executive and founder of Crescent Capital NI Limited ("Crescent Capital"), which is the fund manager for Crescent Capital III LP which holds 613,382 Ordinary Shares.
3 Subscription shares applied for by Walsh Strategic Management Limited, a company controlled by Colin Walsh
4 Hamniv (GP) Limited is a subsidiary of Crescent Capital.
Total voting rights
Following Second Admission, the number of Ordinary Shares in issue and number of voting rights will be 59,453,714. The above figure may be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
Terms used but not defined in this announcement have the same meaning as set out in the Company's announcement released at 10:00 on 19 May 2023.
Enquiries:
Fusion Antibodies plc | www.fusionantibodies.com | |
Adrian Kinkaid, Chief Executive Officer | Via Walbrook PR | |
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Allenby Capital Limited | Tel: +44 (0)20 3328 5656 | |
James Reeve/Vivek Bhardwaj (Corporate Finance) Tony Quirke/Joscelin Pinnington (Sales and Corporate Broking) |
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Walbrook PR | Tel: +44 (0)20 7933 8780 or fusion@walbrookpr.com | |
Anna Dunphy | Mob: +44 (0)7876 741 001 | |
About Fusion Antibodies plc
Fusion is a Belfast based contract research organisation ("CRO") providing a range of antibody engineering services for the development of antibodies for both therapeutic drug and diagnostic applications.
The Company's ordinary shares were admitted to trading on AIM on 18 December 2017. Fusion provides a broad range of services in antibody generation, development, production, characterisation and optimisation. These services include antigen expression, antibody production, purification and sequencing, antibody humanisation using Fusion's proprietary CDRx TM platform and the production of antibody generating stable cell lines to provide material for use in clinical trials. Since 2012, the Company has successfully sequenced and expressed over 250 antibodies and successfully completed over 200 humanisation projects and has an international, blue-chip client base, which has included eight of the top 10 global pharmaceutical companies by revenue.
The Company was established in 2001 as a spin out from Queen's University Belfast. The Company's mission is to enable pharmaceutical and diagnostic companies to develop innovative products in a timely and cost-effective manner for the benefit of the global healthcare industry. Fusion Antibodies provides a broad range of services in antibody generation, development, production, characterisation and optimisation.
Fusion Antibodies growth strategy is based on combining the latest technological advances with cutting edge science to deliver new platforms that will enable Pharma and Biotech companies get to the clinic faster, with the optimal drug candidate and ultimately speed up the drug development process.
The global monoclonal antibody therapeutics market was valued at $135.4 billion in 2018 and is forecast to surpass $212.6 billion in 2022, an increase at a CAGR of 12.0 per cent. for the period 2018 to 2022. In 2017, seven of the world's ten top selling drugs were antibody-based therapeutics with the combined annual sales of these drugs exceeding $63.2 billion.