TIDMABDX

RNS Number : 8177Z

Abingdon Health PLC

16 September 2022

Abingdon Health plc

("Abingdon" or "the Company")

Director/PDMR Dealing

York, U.K. 16 September 2022: Abingdon Health plc (AIM: ABDX), a leading international developer and manufacturer of high quality and effective rapid tests, announces that between 14 and 16 September 2022, Chris Yates, Chief Executive Officer and Dr Christopher Hand, Chairman, purchased a total of 250,000 and 800,000 ordinary shares of 0.25 pence each ("Ordinary Shares") respectively over a series of trades (the "Purchases").

The weighted average price of the shares Purchased by Dr Christopher Hand and Chris Yates was 6.338 pence and 6.274 pence per Ordinary Share respectively. Further to these transactions, the interests of the two directors are as follows:

 
 Director          Previous number          Number of          Number of             Percentage 
                       of Ordinary    Ordinary Shares    Ordinary Shares            of Ordinary 
                       Shares held          Purchased     held following            Shares held 
                                                               Purchases    following Purchases 
 Dr Christopher 
  Hand                  12,228,467            800,000         13,028,467                  10.7% 
 Chris Yates             7,513,844            250,000          7,763,844                   6.4% 
 

Concert Party

Further to the disclosures in the Company's Admission Document published 11 December 2020 ("Admission Document"), both Dr Christopher Hand and Christopher Yates are members of a concert party (the "Concert Party"). As a result of the Purchases, the aggregate number of Ordinary Shares held by the Concert Party has increased from 41,811,888 to 42,861,888, representing an increase from 34.35 per cent. to 35.21 per cent. of the issued share capital of the Company.

The Purchases were effected under the terms of Note 11 on Rule 9.1 of the Code and therefore have no consequences under the Takeover Code.

As set out in the Company's Admission Document, Chris Yates also holds 392,695 options over Ordinary Shares. It was agreed with the Panel prior to the Company's initial public offering that an obligation under Rule 9 will not arise as a result of the issue of new Ordinary Shares to members of the Concert Party following the exercise of those options referred to above, without the requirement to seek the approval of independent shareholders.

The Concert Party could therefore come to hold in aggregate up to 43,254,513 Ordinary Shares (following the exercise of all options held by its members only), representing a maximum potential interest of up to 35.42 per cent. of the enlarged share capital (as enlarged by such exercise).

Details of the transactions undertaken can be found in the Notification of Dealing Form below.

Enquiries:

 
 Abingdon Health plc                                   www.abingdonhealth.com/investors/ 
 Chris Yates, Chief Executive Officer                                    Via Walbrook PR 
 Melanie Ross , Chief Financial Officer 
 Dr Chris Hand, Non-Executive Chairman 
 
 Singer Capital Markets (Sole Broker and                        Tel: +44 (0)20 7496 3000 
  Nominated Adviser) 
 Peter Steel, Alex Bond, Sam Butcher (Corporate 
  Finance) 
 Tom Salvesen (Corporate Broking) 
 
 Walbrook PR Limited                 Tel: +44 (0)20 7933 8780 or abingdon@walbrookpr.com 
 Phillip Marriage / Alice                     Mob: +44 (0)7867 984 082 / +44 (0)7407 804 
  Woodings                                                                           654 
 
 
 

About Abingdon Health plc

Abingdon Health is a world leading developer and manufacturer of high-quality lateral flow 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

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                                         Chris Yates 
      -------------------------------------------  --------------------------------------------------------------- 
 2     Reason for the notification 
      ------------------------------------------------------------------------------------------------------------ 
 a)    Position/status                              Chief Executive Officer 
      -------------------------------------------  --------------------------------------------------------------- 
 b)    Initial notification                         Initial Notification 
        /Amendment 
      -------------------------------------------  --------------------------------------------------------------- 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      ------------------------------------------------------------------------------------------------------------ 
 a)    Name                                         Abingdon Health plc 
      -------------------------------------------  --------------------------------------------------------------- 
 b)    LEI                                          213800XFI4WV3FBILO20 
      -------------------------------------------  --------------------------------------------------------------- 
 4     Details of the transaction(s): section to be repeated for 
        (i) each type of instrument; (ii) each type of transaction; 
        (iii) each date; and (iv) each place where transactions 
        have been conducted 
      ------------------------------------------------------------------------------------------------------------ 
 a)    Description of the                           Ordinary Shares of 0.025 pence each 
        financial instrument, 
        type of instrument 
 
       Identification code                          GB00BLF79J41 
 
 b)    Nature of the transaction                               Purchase of Ordinary Shares 
      -------------------------------------------  --------------------------------------------------------------- 
 c)    Price(s) and volume(s) 
                                                    ------------------------------------------------  ---------- 
                                                     Price(s)                                          Volume(s) 
                                                    ------------------------------------------------  ---------- 
    5.89 pence                                                                                         50,933 
   -------------------------------------------------------------------------------------------------  ---------- 
    5.9499 pence                                                                                       50,000 
   -------------------------------------------------------------------------------------------------  ---------- 
    6.35 pence                                                                                         10,000 
   -------------------------------------------------------------------------------------------------  ---------- 
    6.375 pence                                                                                        25,000 
   -------------------------------------------------------------------------------------------------  ---------- 
    6.35 pence                                                                                         40,000 
   -------------------------------------------------------------------------------------------------  ---------- 
    6.4 pence                                                                                          24,067 
   -------------------------------------------------------------------------------------------------  ---------- 
    6.8 pence                                                                                          50,000 
   -------------------------------------------------------------------------------------------------  ---------- 
 
 d)    Aggregated information                         Total volume: 250,000 Ordinary 
                                                       Shares 
                                                       Volume weighted average price: 
                                                       6.274 pence per Ordinary Share 
 
 e)    Date of the transaction                           14 September 2022, other than purchases 
                                                          referred to in 4 c) of: 
                                                          i) 40,000 Ordinary Shares and 24,067 
                                                          Ordinary Shares on 15 September 2022; 
                                                          and 
                                                          ii) 50,000 Ordinary Shares on 16 September 
                                                          2022 
      -------------------------------------------  --------------------------------------------------------------- 
 f)    Place of the transaction                                London Stock Exchange, AIM 
      -------------------------------------------  --------------------------------------------------------------- 
 
 
 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                         Dr Christopher Hand 
      ---------------------------  ------------------------------------------------------------------------------- 
 2     Reason for the notification 
      ------------------------------------------------------------------------------------------------------------ 
 a)    Position/status              Chairman 
      ---------------------------  ------------------------------------------------------------------------------- 
 b)    Initial notification         Initial Notification 
        /Amendment 
      ---------------------------  ------------------------------------------------------------------------------- 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      ------------------------------------------------------------------------------------------------------------ 
 a)    Name                         Abingdon Health plc 
      ---------------------------  ------------------------------------------------------------------------------- 
 b)    LEI                          213800XFI4WV3FBILO20 
      ---------------------------  ------------------------------------------------------------------------------- 
 4     Details of the transaction(s): section to be repeated for 
        (i) each type of instrument; (ii) each type of transaction; 
        (iii) each date; and (iv) each place where transactions 
        have been conducted 
      ------------------------------------------------------------------------------------------------------------ 
 a)    Description of the           Ordinary Shares of 0.025 pence each 
        financial instrument, 
        type of instrument 
 
       Identification code          GB00BLF79J41 
 
 b)    Nature of the transaction               Purchase of Ordinary Shares 
      ---------------------------  ------------------------------------------------------------------------------- 
 c)    Price(s) and volume(s) 
                                    -----------  --------------------------------------------------------------- 
                                     Price(s)     Volume(s) 
                                    -----------  --------------------------------------------------------------- 
    6 pence                                       500,000 
   --------------------------------------------  --------------------------------------------------------------- 
    6.9 pence                                     300,000 
   --------------------------------------------  --------------------------------------------------------------- 
 
 d)    Aggregated information                     Total volume: 800,000 Ordinary Shares 
                                                   Volume weighted average price: 6.338 pence per Ordinary Share 
 
 e)    Date of the transaction      500,000 Ordinary Shares were purchased on 
                                     14 September 2022 and 300,000 Ordinary Shares 
                                     were purchased on 16 September 2022. 
      ---------------------------  ------------------------------------------------------------------------------- 
 f)    Place of the transaction                London Stock Exchange, AIM 
      ---------------------------  ------------------------------------------------------------------------------- 
 
 

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