TIDMABDX

RNS Number : 4427U

Abingdon Health PLC

02 December 2021

2 December 2021

THIS ANNOUNCEMENT (INCLUDING THE APPENDIX) AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, NEW ZEALAND, CANADA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

Abingdon Health plc

("Abingdon Health", the "Group" or the "Company")

Launch of Open Offer, Posting of Circular, Notice of General Meeting

York, U.K. 2 December 2021: Abingdon Health plc (AIM: ABDX), a leading international developer and manufacturer of high quality and effective rapid tests, is pleased to announce that further to the Company's announcement on 1 December 2021 (the "Proposed Fundraising"), the Company will today post a Circular to Qualifying Shareholders regarding the Open Offer of up to 4,000,000 Open Offer Shares in the Company at the Issue Price of 25 pence per Open Offer Share to raise up to approximately GBP1 million (before expenses).

Pursuant to the Open Offer, Qualifying Shareholders will be given the opportunity to subscribe for:

1 Open Offer Share for every 23.9247785 Existing Ordinary Shares

held by each Qualifying Shareholder on the Record Date.

Any Open Offer Shares not subscribed for by Qualifying Shareholders will be available to Qualifying Shareholders under the Excess Application Facility and as such, Qualifying Shareholders seeking to limit their dilution from the Placing, the Subscription and the Primary Bid Offer can also request additional Open Offer Shares ("Excess Shares") under the Excess Application Facility. The Open Offer is not being underwritten.

The Open Offer is conditional upon, among other matters, the Second Placing becoming or being declared unconditional in all respects and not being terminated before Second Admission.

Posting of Circular

Further details regarding the Open Offer are available in the Circular, which has been posted today to Qualifying Shareholders, along with the Application Form (where applicable). The Circular will also be made available on the Company's website: www.abingdonhealth.com/investors/

Notice of General Meeting

A notice convening a General Meeting of the Company is set out at the end of the Circular. The General Meeting has been convened for 10.30 a.m. on 20 December 2021 at the offices of Abingdon Health plc at York Biotech Campus, Sand Hutton, York, YO41 1LZ.

Capitalised terms used in this announcement have the meanings given to them in the Circular, unless the context provides otherwise.

Enquiries:

 
 Abingdon Health plc                                 www.abingdonhealth.com/investors/ 
 Chris Yates, Chief Executive Officer                                  Via Walbrook PR 
 Melanie Ross , Chief Financial Officer 
 Christopher Hand, Non-Executive Chairman 
 
 Singer Capital Markets Securities Limited                    Tel: +44 (0)20 7496 3000 
  (Sole Bookrunner and Broker) 
  Singer Capital Markets Advisory LLP 
  (Nominated Adviser) 
 Shaun Dobson, Peter Steel, Alex Bond 
  (Corporate Finance) 
 Tom Salvesen (Corporate Broking) 
 
 Walbrook PR Limited               Tel: +44 (0)20 7933 8780 or abingdon@walbrookpr.com 
 Paul McManus / Phillip                        Mob: +44 (0)7980 541 893 / +44 (0)77867 
  Marriage                                                                     984 082 
 Alice Woodings                                               Mob: +44 (0)7407 804 654 
 
 

Expected timetable of principal events:

 
                                                                                2021 
 Record Date for entitlement under the Open Offer                        30 November 
 Announcement of the Fundraising                                      7.00 a.m. on 1 
                                                                            December 
 Announcement of the results of the Placing, the                          1 December 
  Subscription and the PrimaryBid Offer 
 Publication and posting of the Circular, Notice                          2 December 
  of General Meeting, Form of Proxy and, to Qualifying 
  Non-Crest Shareholders, the Application Form 
 Ex-Entitlement Date of the Open Offer                                    2 December 
 Open Offer Entitlements and Excess Open Offer Entitlements               3 December 
  credited to stock accounts in CREST of Qualifying 
  CREST Shareholders 
 Admission of the First Placing Shares to trading               8 a.m. on 3 December 
  on AIM and commencement of dealings 
 Where applicable, expected date for CREST accounts                       3 December 
  to be credited in respect of First Placing Shares 
  in uncertificated form 
 Latest recommended time and date for requested withdrawal           4.30 p.m. on 13 
  of Open Offer Entitlements                                                December 
 Latest time and date for depositing Open Offer Entitlements         3.00 p.m. on 14 
  in CREST                                                                  December 
 Latest time and date for splitting of Application                   3.00 p.m. on 15 
  Forms under the Open Offer                                                December 
 Latest time and date for receipt of Forms of Proxy                    10.30 a.m. on 
  and CREST voting instructions                                          16 December 
 Latest time and date for receipt of Application                       11.00 a.m. on 
  Forms and payment in full under the Open Offer and                     17 December 
  settlement of relevant CREST instructions (as appropriate) 
 Where applicable, expected date for dispatch of                         17 December 
  definitive share certificates for First Placing 
  Shares in certificated form 
 General Meeting                                                       10.30 a.m. on 
                                                                         20 December 
 Results of the General Meeting and the Open Offer                       20 December 
  announced 
 Admission of the Second Admission Shares to trading           8 a.m. on 21 December 
  on AIM and commencement of dealings 
 Where applicable, expected date for CREST accounts                      21 December 
  to be credited in respect of Second Admission Shares 
  in uncertificated form 
 Where applicable, expected date for dispatch of                      6 January 2022 
  definitive share certificates for Second Admission 
  Shares in certificated form 
 

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