TIDMABDX
RNS Number : 2063W
Abingdon Health PLC
20 December 2021
THIS ANNOUNCEMENT 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.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (596/2014/EU) AS THE
SAME HAS BEEN RETAINED IN UK LAW AS AMENDED BY THE MARKET ABUSE
(AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) ("UK MAR").
DOMAIN.
20 December 2021
Abingdon Health plc
("Abingdon" or "the Company")
Results of General Meeting and Open Offer
Issue of Equity and
Total voting rights
York, U.K. 20 December 2021: Abingdon Health plc (AIM: ABDX), a
leading international developer and manufacturer of high quality
and effective rapid tests, announces that all resolutions put to
shareholders at the General Meeting held earlier today in
connection with the Fundraising, were duly passed.
Furthermore, the Company is pleased to announce that it has
raised GBP1 million under a substantially oversubscribed Open Offer
(before expenses) following the receipt of valid applications for
7,316,657 Open Offer Shares from Qualifying Shareholders, including
applications under the Excess Application Facility. This represents
approximately 183 per cent. of the available Open Offer Shares.
Accordingly, Qualifying Shareholders who have validly applied
for Open Offer Shares will receive their full Open Offer
Entitlement. Applications for Open Offer Shares under the Excess
Application Facility will be scaled back pro rata to the number of
Excess Shares applied for by Qualifying Shareholders.
The result of the oversubscribed Open Offer along with the
Placing, Subscription and PrimaryBid Offer means that the Company
has raised a total of approximately GBP6.5 million (before
expenses) through the Fundraising.
Dr. Chris Hand, Chairman of Abingdon Health plc, said:
"We set out to raise up to GBP6.5 million through a placing and
subscription of new shares with institutional and other investors
as well as the PrimaryBid offer and Open Offer. Now that our
substantially oversubscribed Open Offer has closed, we are
delighted to confirm that we have raised the full amount. The
proceeds of the fundraising will not only provide the additional
working capital funding required ahead of order inflow but also
enable us to invest in the growth opportunities outlined when we
launched the fundraising. Once again, I would like to welcome new
investors to the company and thank existing shareholders for their
support."
Admission, settlement and dealings
Application has been made to the London Stock Exchange for
21,215,045 New Ordinary Shares to be admitted to trading on AIM.
This includes all Second Admission Shares made up of 14,015,045
Second Placing Shares, 1,200,000 Subscription Shares, 2,000,000
PrimaryBid Shares and 4,000,000 Open Offer Shares. Admission of the
Second Admission Shares is expected to occur at 8.00 a.m. on 21
December 2021. The New Ordinary Shares will rank pari passu with
the Existing Ordinary Shares.
Total Voting Rights
Following Admission, the Company will have 121,699,114 Ordinary
Shares in issue. No shares are held in treasury, therefore, the
total number of voting rights in the Company following Admission
will be 121,699,114.
Shareholders may use this figure 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
issued share capital of the Company, under the FCA's Disclosure
Guidance and Transparency Rules.
Unless otherwise defined, capitalised terms used in this
announcement shall have the same meanings as defined in the
Circular sent to Shareholders and available to view on the
Company's website, as published by the Company on 2 December
2021.
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 (Sole Broker and Tel: +44 (0)20 7496 3000
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)7867 984
Marriage 082
Alice Woodings Mob: +44 (0)7407 804 654
About Abingdon Health
Abingdon Health is a world leading developer and manufacturer of
high-quality rapid tests across all industry sectors, including
healthcare and COVID-19. Abingdon is the partner of choice for a
growing global customer base and takes projects from initial
concept through to routine and large-scale manufacturing and has
also developed and marketed its own labelled tests.
The Company offers product development, regulatory support,
technology transfer and manufacturing services for customers
looking to develop new assays or transfer existing laboratory-based
assays to a lateral flow format. Abingdon Health aims to support
the increase in need for rapid results across many industries and
locations and produces lateral flow tests in areas such as
infectious disease, clinical testing including companion
diagnostics, animal health and environmental testing. Faster access
to results allows for rapid decision making, targeted intervention
and can support better outcomes. This ability has a significant
role to play in improving life across the world. To support this
aim Abingdon Health has also developed AppDx(R) , a customisable
image capturing technology that transforms a smartphone into a
self-sufficient, standalone lateral-flow reader.
Founded in 2008, Abingdon Health is headquartered in York,
England.
For more information visit: www.abingdonhealth.com
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END
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