16
February 2024
Avacta Group
plc
("Avacta"
or the "Group" or the "Company")
Share Incentive Plan/Issue of
Equity
Avacta Group plc (AIM: AVCT), a life
sciences company developing innovative, targeted oncology drugs and
powerful diagnostics, today announces 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 £3,000 per employee will be issued at the
prevailing middle market price at the close of business on 14
February 2024 to all eligible employees. These shares awarded will
form part of the employee's remuneration package.
Accordingly, an additional 9,515
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 22 February 2024 ("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 288,215,722. 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
Alastair Smith, Chief Executive
Officer
Tony Gardiner, Chief Financial
Officer
Michael Vinegrad, Group
Communications Director
|
Tel: +44
(0) 1904 21 7070
www.avacta.com
|
Stifel Nicolaus Europe
Limited (Nomad and Broker)
Nicholas Moore / Nick Adams / Samira
Essebiyea / Nick Harland
|
Tel: +44
(0) 207 710 7600
www.stifel.com
|
Peel Hunt (Joint Broker)
James Steel / Sohail Akbar / Patrick
Birkholm
|
Tel: +44
(0) 207 418 8900
www.peelhunt.com
|
ICR Consilium (Media and
IR)
Mary-Jane Elliott / Jessica Hodgson
/ Sukaina Virji
|
avacta@consilium-comms.com
|
About Avacta Group plc - https://www.avacta.com
Avacta Group plc is a life sciences
company working to improve people's health and well-being through
innovative oncology drugs and powerful diagnostics. Operating
through two divisions, Diagnostics and Therapeutics, the Group's
mission is to provide professionals and consumers with solutions
that improve healthcare, fitness and well-being.
Avacta's Therapeutics Division, a clinical
stage oncology drug innovator, is building a wholly owned pipeline
of novel Affimer® immunotherapies and pre|CISION™ tumour
targeted chemotherapies. This approach is designed to address the
lack of a durable response to current cancer immunotherapies
experienced by most patients and reduce the severe systemic
toxicities caused by chemotherapies. There are five programmes in
the pipeline as well as several global research collaborations and
licensing partnerships. Avacta's lead programme, AVA6000, is a
preCISION™ tumour-targeted form of the established chemotherapy
doxorubicin. AVA6000 is in Phase I clinical trials in patients with
locally advanced or metastatic selected solid tumours.
The Affimer® platform is
an alternative to antibodies that has been designed to address many
of the drawbacks of antibodies which, despite their shortcomings,
currently dominate the immuno-diagnostics and immuno-therapeutics
markets.
The pre|CISION™ tumour targeting
platform can be used to modify a chemotherapy in order to
selectively release the active drug in tumour tissue thereby
reducing the systemic exposure that causes damage to healthy
tissues. pre|CISION™ modified chemotherapies are designed to reduce
the side effects and improve the overall safety and therapeutic
potential of these powerful anti-cancer treatments.
Avacta's Diagnostics Division develops and
supplies a broad range of in-vitro diagnostic (IVD) solutions. The
Division is growing rapidly through an M&A strategy to deliver
a global scale IVD business providing market leading solutions for
healthcare professionals and consumers to inform treatment and
monitor health and well-being. In October
2022, Avacta acquired Launch Diagnostics which
serves the hospital pathology laboratory market in
the UK and Europe. In May
2023, Avacta acquired Coris Bioconcept
a Belgium based lateral flow test developer and
manufacturer adding a
broad range of marketed professional-use rapid tests into
the Diagnostics
Division. Avacta Diagnostic's
research and development centre in Wetherby, UK uses its
proprietary Affimer® platform to differentiate
immunodiagnostic products to provide marketing leading
performance.
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