The
information contained within this announcement is deemed by the
Company to constitute inside information as stipulated under the
Market Abuse (amendment) (EU Exit) Regulations 2019/310 ("MAR").
With the publication of this announcement via a Regulatory
Information Service, this inside information is now considered to
be in the public domain.
16 October 2024
Fusion Antibodies
plc
("Fusion"
or the "Company")
Issue of shares to
non-executive directors
Fusion Antibodies plc (AIM: FAB), specialists
in pre-clinical antibody discovery, engineering and supply for both
therapeutic drug and diagnostic applications, announces the
issue of new ordinary shares of 4p each in the capital of the
Company ("Ordinary Shares")
to certain non-executive directors of the Company in satisfaction
of part of their salary and fees for the six-month period ended 30
September 2024.
As disclosed in the Company's annual report and
accounts for the year ended 31 March 2024 (as announced on 5
September 2024), the Company's non-executive directors agreed to
receive part of their salary in new Ordinary Shares until the end
of the current financial year ending 31 March 2025 ("FY25"), in order to assist the Company
as it continues to carefully control its cash flows.
In total, 587,348 new Ordinary Shares have been
issued (the "Director
Shares") at a deemed issue price of 4.15p per Ordinary
Share, being the closing mid-market price of an Ordinary Share on
the date of grant, as follows:
|
Director
|
Amount of salary/fees
received in Director Shares
|
No. of Director
Shares
|
Total holding of Ordinary
Shares post issue
|
Percentage of enlarged share
capital
|
|
Simon Douglas
|
£7,500
|
180,722
|
999,5871
|
1.04%
|
|
Colin Walsh2
|
£13,500
|
325,301
|
2,887,8013
|
3.01%
|
|
Matthew Baker
|
£3,375
|
81,325
|
237,575
|
0.25%
|
1 Excludes Ordinary Shares
held by relatives of Simon Douglas.
2 Held by Walsh Strategic
Management Limited, a company controlled by Colin
Walsh
3 Includes 600,000 Ordinary
Shares already held by Walsh Strategic Management Limited, a
company controlled by Colin Walsh and 1,400,000 Ordinary Shares
held by Hamniv (GP) Limited, a subsidiary of Crescent Capital NI
Limited ("Crescent Capital"). Colin Walsh is the Chief Executive
and founder of Crescent Capital.
Admission to
trading on AIM
Application has been made to the London Stock
Exchange plc for the Director Shares to be admitted to trading on
AIM ("Admission"). It is
anticipated that Admission will become effective and that dealings
in the Director Shares will commence on AIM at 8.00 a.m. on or
around 22 October 2024.
Total voting rights
On Admission, the Company will
have 95,952,912 Ordinary Shares in issue, each with one voting right.
There are no shares held in treasury. Therefore, the Company's
total number of Ordinary Shares in issue and voting rights will
be 95,952,912 and
this figure may be used by Shareholders from Admission 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 Company under the FCA's Disclosure Guidance and
Transparency Rules.
Enquiries:
|
Fusion
Antibodies plc
|
www.fusionantibodies.com
|
|
Adrian Kinkaid, Chief Executive
Officer
Stephen Smyth, Chief Financial
Officer
|
Via Walbrook
PR
|
|
|
|
|
Fusion
Antibodies interactive investor hub
|
https://investorhub.fusionantibodies.com/
|
|
|
|
|
Allenby
Capital Limited
|
Tel: +44 (0) 20 3328
5656
|
|
James Reeve/Vivek Bhardwaj (Corporate
Finance)
Tony Quirke/Joscelin Pinnington (Sales and
Corporate Broking)
|
|
|
|
|
|
|
|
|
Shard Capital
Partners LLP
|
|
|
Damon Heath (Joint Broker)
|
Tel: +44 (0) 207 186
9952
|
|
|
|
|
|
|
|
Walbrook
PR
|
Tel:
+44 (0)20 7933 8780 or fusion@walbrookpr.com
|
|
Anna Dunphy
|
Mob: +44 (0)7876 741 001
|
|
|
| |
About Fusion
Antibodies plc
Fusion is a Belfast based contract research
organisation ("CRO") providing a range of antibody engineering
services for the development of antibodies for both therapeutic
drug and diagnostic applications.
The Company's ordinary shares were admitted to
trading on AIM on 18 December 2017. Fusion provides a broad range
of services in antibody generation, development, production,
characterisation and optimisation. These services include antigen
expression, antibody production, purification and sequencing,
antibody humanisation using Fusion's proprietary
CDRx TM platform and the production of
antibody generating stable cell lines to provide material for use
in clinical trials. Since 2012, the Company has successfully
sequenced and expressed over 250 antibodies and successfully
completed over 200 humanisation projects and has an international,
blue-chip client base, which has included eight of the top 10
global pharmaceutical companies by revenue.
The Company was established in 2001 as a spin
out from Queen's University Belfast. The Company's mission is to
enable pharmaceutical and diagnostic companies to develop
innovative products in a timely and cost-effective manner for the
benefit of the global healthcare industry. Fusion Antibodies
provides a broad range of services in antibody generation,
development, production, characterisation and
optimisation.
Fusion Antibodies growth strategy is based on
combining the latest technological advances with cutting edge
science to deliver new platforms that will enable Pharma and
Biotech companies get to the clinic faster, with the optimal drug
candidate and ultimately speed up the drug development
process.
The global monoclonal antibody
therapeutics market was valued at $186 billion in 2021 and is
forecast to surpass $445 billion in 2028, an increase at a CAGR of
13.2 per cent. for the period 2022 to 2028. Approximately 150
monoclonal antibody therapies are approved and marketed globally as
of June 2022 with the top four antibody drugs each having sales of
more than $3 bn in 2021.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them.
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
1.
Simon Douglas
2.
Colin Walsh
3.
Matthew Baker
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
1. Non-Executive
Chair
2. Non-Executive
Director
3. Non-Executive
Director
|
|
b)
|
Initial notification
/Amendment
|
Initial notification
|
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name
|
Fusion Antibodies plc
|
|
b)
|
LEI
|
213800KBAYRC9VOQ9V39
|
|
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 financial
instrument, type of instrument
Identification code
|
Ordinary shares of 4p each
("Ordinary Shares") in Fusion Antibodies plc
Identification code (ISIN) for
Fusion Antibodies plc ordinary shares: GB00BDQZGK16
|
|
b)
|
Nature of the transaction
|
Issue of Ordinary Shares in lieu of
salary
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
1.
4.15p
2.
4.15p
3.
4.15p
|
1.
180,722
2.
325,301
3.
81,325
|
|
|
d)
|
Aggregated information:
-
Aggregated volume
-
Price
|
N/A
|
|
e)
|
Date of the transaction
|
15 October 2024
|
|
f)
|
Place of the transaction
|
Outside of a trading
venue
|
