Avacta Group PLC Block Listing Application to AIM (5607Q)
18 October 2023 - 11:00PM
UK Regulatory
TIDMAVCT
RNS Number : 5607Q
Avacta Group PLC
18 October 2023
18 October 2023
Avacta Group plc
("Avacta" or the "Group" or the "Company")
Block Listing Application to AIM
Avacta Group plc (AIM: AVCT), a life sciences company focused on
improving healthcare outcomes through targeted cancer treatments
and diagnostics, announces application has been made to AIM for a
block listing of 4,300,000 ordinary shares of 10 pence each in the
Company ("Ordinary Shares"). This will be used to facilitate the
admission of shares to trading following the exercise of options
granted under the following two share schemes:
-- The EMI Scheme - 600,000 Ordinary Shares
-- The LTIP/ESOS Scheme - 3,700,000 Ordinary Shares
The Ordinary Shares will be issued from time to time pursuant to
the Company's existing plans including outstanding options already
issued but not yet exercised to the employees of the Company. New
Ordinary Shares issued following option exercises and admitted to
trading under the block admission will rank pari passu in all
respects with the existing Ordinary Shares.
The block listing is expected to become effective on 24 October
2023. The Company will continue to make six-monthly announcements
of the utilisation of the block admission, in line with its
obligations under AIM Rule 29.
At the time of this announcement, Avacta has 280,826,106
Ordinary Shares in issue. 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.
-Ends-
For further information from Avacta Group plc, please
contact:
Avacta Group plc Tel: +44 (0) 1904 21 7070
Alastair Smith, Chief Executive www.avacta.com
Officer
Tony Gardiner, Chief Financial Officer
Michael Vinegrad, Group Communications
Director
Stifel Nicolaus Europe Limited (Nomad Tel: +44 (0) 207 710 7600
and Joint Corporate Broker) www.stifel.com
Nicholas Moore / Nick Adams / Samira
Essebiyea / Nick Harland / William
Palmer-Brown
Peel Hunt (Joint Corporate Broker) Tel: +44 (0) 207 418 8900
James Steel / Chris Golden / Patrick www.peelhunt.com
Birkholm
ICR Consilium (Media and IR) avacta@consilium-comms.com
Mary-Jane Elliott / Jessica Hodgson
/ Sukaina Virji
About Avacta Group plc - https://www.avacta.com
Avacta Group is a UK-based company focused on improving
healthcare outcomes through targeted cancer treatments and
diagnostics.
Avacta has two divisions: an oncology biotech division
harnessing proprietary therapeutic platforms to develop novel,
highly targeted cancer drugs, and a diagnostics division, which is
executing on an M&A led growth strategy to create a
full-spectrum diagnostics business focused on supporting healthcare
professionals and broadening access to testing. Avacta's two
proprietary platforms, Affimer(R) and pre|CISION(TM) underpin its
cancer therapeutics whilst the diagnostics division leverages the
Affimer(R) platform to drive competitive advantage in its
markets.
The pre|CISION(TM) platform modifies chemotherapy to be
activated only in the tumour tissue, reducing systemic exposure and
toxicity. This is achieved by harnessing an enzyme called FAP which
is highly upregulated in most solid tumours compared with healthy
tissues, turning chemotherapy into a "precision medicine". The lead
pre|CISION(TM) programme, AVA6000 a tumour activated form of
doxorubicin, is in Phase 1 studies and has shown dramatic
improvement in safety compared with standard doxorubicin, and early
signs of clinical activity.
Affimer(R) is a novel biologic platform which has significant
technical and commercial advantages compared with antibodies and is
used both to develop advanced immunotherapies and to improve the
performance of immunodiagnostics.
With a balanced business and capital allocation model: a
high-value oncology pipeline supported by a revenue generating,
fast-growing diagnostics business, Avacta seeks to create long-term
shareholder value alongside patient benefit.
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