TIDMABDX
RNS Number : 2891Z
Abingdon Health PLC
11 January 2024
Abingdon Health plc
("Abingdon Health" or "the Company")
Update to Shareholder Concert Parties
York, U.K. 11 January 2024: Further to its announcement on 30
August 2023, Abingdon Health plc (AIM: ABDX), a leading
international lateral flow contract research (CRO) and contract
development and manufacturing organisation (CDMO), provides an
update to its shareholder concert parties.
Under the City Code on Takeovers and Mergers (the "Code")
published by the Panel on Takeovers and Mergers (the "Panel"), a
concert party arises where persons who, pursuant to an agreement or
understanding (whether formal or informal), co-operate to obtain or
consolidate control (as defined in the Code) of a company or to
frustrate the successful outcome of an offer for a company.
Certain persons will be presumed, as set out in the Definitions
in the Code, to be persons acting in concert with other persons in
the same category unless the contrary is established, including
shareholders in a private company who, following the
re-registration of that company as a public company in connection
with an initial public offering or otherwise, become shareholders
in a company to which the Code applies.
On 30 August 2023, the Company announced that it had agreed with
the Panel that the concert party that was put in place upon the
Company's IPO on 15 December 2020 would be split in to three
separate concert parties which are distinct and independent for the
purposes of the Code being:
1. The Founder Group, comprising founders and associates which
has an aggregate interest of the Company of approximately
18.5%(1)
2. The Duckworth Group, comprising certain investment vehicles
associated with Mr Max Duckworth which has an aggregate interest of
the Company of approximately 13.6%(1)
3. The Drayson Group, comprising Professor Mark Drayson and
associates which has an aggregate interest in the issued share
capital of the Company of approximately 1.8%(1)
The Company has now agreed with the Panel that Brett Pollard
should be removed from the Founder Group concert party. The revised
members of the Founder Group and the members of The Duckworth Group
and The Drayson Group (each of which is unchanged in terms of
composition), including their beneficial interests in ordinary
shares in the Company, are as follows:
1. The Founder Group
Shareholder Number of Shares % of ISC
Chris Hand 13,178,467 10.8%
----------------- ---------
Chris Yates 7,888,844 6.5%
----------------- ---------
Chris Lewis 640,000 0.5%
----------------- ---------
Tracie Lewis 481,500 0.4%
----------------- ---------
Philip Hand 248,496 0.2%
----------------- ---------
Nicola Hand 142,328 0.1%
----------------- ---------
Total 22,579,635 18.5%
----------------- ---------
As at 10 January 2024
2. The Duckworth Group
Shareholder Number of Shares % of ISC
Max Duckworth 0 0%
----------------- ---------
Catenalucis LLC 7,088,488 5.8%
----------------- ---------
Thornapple LLP 6,113,124 5.0%
----------------- ---------
Godstow Holdings LLC 1,780,068 1.5%
----------------- ---------
Nicholas Properties UK Ltd 891,132 0.7%
----------------- ---------
Humble Rogue Ventures LLC 709,180 0.6%
----------------- ---------
Total 17,081,992 13.6%
----------------- ---------
As at 10 January 2024
3. The Drayson Group
Shareholder Number of Shares % of ISC
Prof Mark Drayson 1,313,272 1.1%
----------------- ---------
Prof Roy Jefferis 370,020 0.3%
----------------- ---------
Dr Mark Cobbold 461,924 0.4%
----------------- ---------
Total 2,145,216 1.8%
----------------- ---------
As at 10 January 2024
The individuals within these three groups can each acquire
further shares in the Company without triggering an obligation
under Rule 9 of the Code to make an offer for the whole of its
issued share capital, provided such acquisitions do not cause the
aggregate interest of their respective concert party to reach or
exceed 30 per cent. of the Company's issued share capital.
Enquiries
Abingdon Health plc www.abingdonhealth.com/investors/
Chris Yates, Chief Executive Via Walbrook PR
Officer
Chris Hand, Non-Executive
Chairman
Singer Capital Markets (Sole Tel: +44 (0)20 7496 3000
Broker and Nominated Adviser)
Peter Steel, Alex Bond (Corporate
Finance)
Tom Salvesen (Corporate Broking)
Walbrook PR Limited Tel: +44 (0)20 7933 8780 or abingdon@walbrookpr.com
Alice Woodings Mob: +44 (0)7407 804 654
About Abingdon Health plc
Abingdon Health is a leading lateral flow contract research
(CRO) and contract development and manufacturing organisation
("CDMO") offering its services to an international customer base
across industry sectors that include clinical, animal health, plant
health, and environmental testing. Abingdon Health has the internal
capabilities to take projects from initial concept through to
routine and large-scale manufacturing; from "idea to commercial
success."
The Company's CDMO division 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.
Abingdon Health's Abingdon Simply Test (TM) range of self-tests
is an ecommerce platform that offers a range of self-tests to
empowers consumers to manage their own health and wellbeing. The
Abingdon Simply Test (TM) ecommerce site offers consumers a range
of information to support them in making informed decisions on the
tests available. In addition, the site provides Abingdon's contract
services customers with a potential route to market for self-tests.
The Abingdon Simply Test range is also sold through international
distributors and through other channels in the UK and Ireland such
as pharmacy chains.
Founded in 2008, Abingdon Health is headquartered in York,
England. For more information visit: www.abingdonhealth.com
[1] As at 10 January 2023
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END
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