Avacta Group PLC Share Incentive Plan/Issue of Equity (5590N)
January 18 2019 - 11:08AM
UK Regulatory
TIDMAVCT
RNS Number : 5590N
Avacta Group PLC
18 January 2019
18 January 2019
Avacta Group plc
("Avacta" or "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 as part
of its HMRC Approved Share Incentive Plan ("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 on 16
January 2019 to all eligible employees. These shares awarded will
form part of the employee's remuneration package.
Accordingly, today 372,826 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 25
January 2019 ("Admission") . 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 115,835,037. 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) 844 414 0452
Alastair Smith, Chief Executive www.avacta.com
Officer
Tony Gardiner, Chief Financial Officer
finnCap Ltd Tel: +44 (0) 207 220 0500
Geoff Nash / Giles Rolls - Nominated www.finncap.com
Adviser
Tim Redfern - ECM
Tel: +44 (0) 203 705 9318
WG Partners Tel: +44 (0) 203 705 9217
Nigel Birks / Nigel Barnes www.wgpartners.co.uk
David Wilson / Claes Spang
Turner Pope Investments Tel: 020 3621 4120
James Pope www.turnerpope.com
Ben Turner
Zyme Communications (Trade and Regional Tel: +44 (0)7787 502 947
Media) katie.odgaard@zymecommunications.com
Katie Odgaard
Yellow Jersey (Financial Media and Tel: +44 (0)7764 947137
IR) Tel: +44 (0)7544 275882
Sarah Hollins avacta@yellowjerseypr.com
Harriet Jackson
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(R) 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(R) 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 as well as partnered development
programmes. Avacta is commercialising non-therapeutic Affimer(R)
reagents through licensing to developers of life sciences research
tools and diagnostics.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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