Last checked at 1 Jun 2020 12:15
Liquidity Agreement Monthly Update andTotal Voting Rights
Paris, France and Camberley, UK - 1 June 2020 - Novacyt (EURONEXT GROWTH: ALNOV; AIM: NCYT), an international specialist in clinical diagnostics, announces its monthly update in relation to ordinary shares traded under its ongoing liquidity agreement with Invest Securities SA (the "Liquidity Agreement"). The Liquidity Agreement is governed by French law and is further summarised in the 'notes for editors' section below.
During the period from 1 May to 31 May 2020, Invest Securities purchased 2,750 ordinary shares at a maximum price of €4.55 and a minimum price of €3.20 and sold 1,750 ordinary shares at a maximum price of €4.99 and a minimum price of €3.74 under the Liquidity Agreement. The total number of ordinary shares in the Company, which are held in treasury as at close of business on 31 May 2020, is 4,300.
Total Voting Rights
The total number of ordinary shares in the Company is 67,673,567. This figure may be used by shareholders as the denominator for calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company pursuant to Article L. 223-7 of the French Commercial Code and the Company's Articles. The Company is not subject to the disclosure guidance and transparency rules made by the Financial Conduct Authority under Part VI of FSMA.
For further information, please refer to www.novacyt.com or contact:
Novacyt SA
Graham Mullis, Chief Executive Officer
Anthony Dyer, Chief Financial Officer
+44 (0)1276 600081
SP Angel Corporate Finance LLP (Nominated Adviser and Broker)
Matthew Johnson / Charlie Bouverat (Corporate Finance)
Vadim Alexandre / Rob Rees (Corporate Broking)
+44 (0)20 3470 0470
FTI Consulting (International)
Victoria Foster Mitchell / Mary Whittow
+44 (0)20 3727 1000
victoria.fostermitchell@fticonsulting.com / mary.whittow@fticonsulting.com
FTI Consulting (France)
Arnaud de Cheffontaines
+33 (0)147 03 69 47
arnaud.decheffontaines@fticonsulting.com
About Novacyt Group
The Novacyt Group is an international diagnostics business generating an increasing portfolio of in vitro and molecular diagnostic tests. Its core strengths lie in diagnostics product development, commercialisation, contract design and manufacturing. The Company's lead business units comprise of Primerdesign and Lab21 Products, supplying an extensive range of high-quality assays and reagents worldwide. The Group directly serves microbiology, haematology and serology markets as do its global partners, which include major corporates.
For more information please refer to the website: www.novacyt.com
Further information on the Liquidity Agreement
On 12 September 2016, the Company and Invest Securities entered into the Liquidity Agreement pursuant to which Invest Securities provides liquidity services in relation to the ordinary shares to the Company. Invest Securities may purchase ordinary shares on behalf of the Company under the agreement, subject to approval from Shareholders as to the price at which ordinary shares can be brought back and the aggregate amount that the Company may provide to Invest Securities to purchase such ordinary shares.
Shareholder approval was granted at the Shareholders' meeting held on 27 June 2017 for the purchase of ordinary shares by Invest Securities under the agreement at a maximum purchase price per ordinary shares of €8.10 for an aggregate maximum purchase price of €100,000 and for 18 months from the date of the approval. Under the agreement, Invest Securities must act completely independently of the Company and the Company must not communicate with the employees of Invest Securities who are responsible for performing the agreement. Invest Securities is paid €10,000 per annum for its services under the liquidity agreement. The agreement has an initial term of two years, with a rolling extension of one year thereafter. The agreement can be terminated by either party at the end of each such period subject to two months' prior notice. The Liquidity Agreement is governed by French law. Ordinary shares purchased by Invest Securities are either cancelled or held as treasury shares (which are non-voting and do not rank for dividends).