Avacta Group PLC Issue of Equity (9924X)
30 November 2017 - 9:57PM
UK Regulatory
TIDMAVCT
RNS Number : 9924X
Avacta Group PLC
30 November 2017
30 November 2017
Avacta Group plc
("Avacta", "the Group" or "the Company")
Share Incentive Plan/Issue of Equity
Avacta Group plc (AIM: AVCT), the developer of Affimer(R)
biotherapeutics and reagents, is pleased to announce that it has
established an HMRC approved Share Incentive Plan ("SIP Award
Scheme") for all eligible UK employees.
As part of the SIP Award Scheme, ordinary shares of 10p each in
the Company ("Ordinary Shares") up to a value of GBP3,000 per
employee will be issued at the prevailing middle market price at
the close of business the day before an award to all eligible
employees. These shares awarded will form part of the employee's
remuneration package.
Accordingly, today 229,591 Ordinary Shares have been issued as
part of the SIP Award Scheme to eligible employees.
Application has been made for the Ordinary Shares to be admitted
to trading on AIM and dealings are expected to commence on 6
December 2017. The Ordinary Shares will rank pari passu with the
existing Ordinary Shares of the Company.
Following Admission, the Company's enlarged issued share capital
will be 68,632,835. This figure may be used by shareholders in the
Company as the denominator for the calculations by which they will
determine if they are required to notify their interest in, or a
change in their interest in, the share capital of the Company under
the FCA's Disclosure Guidance and Transparency Rules.
For further information from Avacta Group plc, please
contact:
Avacta Group plc Tel: +44 (0) 844
Alastair Smith, Chief Executive 414 0452
Officer www.avacta.com
Tony Gardiner, Chief Financial
Officer
finnCap Ltd Tel: +44 (0) 207
Geoff Nash / Giles Rolls - Nominated 220 0500
Adviser www.finncap.com
Tim Redfern / Alice Lane / Nikita
Jain - Corporate Broking
Tel: +44 (0) 203
WG Partners 705 9318
Nigel Birks / Nigel Barnes Tel: +44 (0) 203
David Wilson / Claes Spang 705 9217
www.wgpartners.co.uk
Zyme Communications (Trade and Tel: +44 (0)7787
Regional Media) 502 947
Katie Odgaard katie.odgaard@zymecommunications.com
Yellow Jersey PR (Financial Tel: +44 (0)7764
Media and IR) 947137
Sarah Hollins avacta@yellowjerseypr.com
About Avacta Group plc (www.avacta.com)
Avacta's principal focus is on its proprietary Affimer(R)
technology which is a novel engineered alternative to antibodies
that has wide application in Life Sciences for diagnostics,
therapeutics and general research and development.
Antibodies dominate markets worth in excess of $100bn despite
their shortcomings. Affimer technology has been designed to address
many of these negative performance issues, principally; the time
taken to generate new antibodies, the reliance on an animal's
immune response, poor specificity in many cases, and batch to batch
variability. Affimer technology is based on a small protein that
can be quickly generated to bind with high specificity and affinity
to a wide range of protein targets.
Avacta has a pre-clinical biotech development programme with an
in-house focus on immuno-oncology and bleeding disorders as well as
partnered development programmes. Avacta is commercialising
non-therapeutic Affimer reagents through licensing to developers of
life sciences research tools and diagnostics.
To register for news alerts by email go to
www.avacta.com/investor-news-email-alerts
This information is provided by RNS
The company news service from the London Stock Exchange
END
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