Akers Biosciences, Inc. Issue of Equity (0634C)

TIDMAKR

RNS Number : 0634C

Akers Biosciences, Inc.

16 January 2018

January 16, 2018

Akers Biosciences, Inc.

Issue of Equity

Akers Biosciences, Inc. (NASDAQ: AKER) (AIM: AKR.L), ("Akers Bio" or the "Company"), a developer of rapid health information technologies, announces that, pursuant to the Public Offering announced on December 19, 2017, the Company has received a further application for the conversion of 175 shares of Series B Convertible Preferred Stock with a stated value of $1,000 per share into 1,166,667 common shares of no par value.

This represents the final Series B Convertible Preferred Stock conversion. The full 3,675 shares of Series B Convertible Preferred Stock have been converted into an aggregate 24,500,003 (due to rounding) common shares of no par value in the Company. There are no further shares of Series B Convertible Preferred Stock in issue.

The Company will apply for admission of the final 1,166,667 common shares to AIM and this is expected to take place on January 22, 2018 ("Admission"). Following Admission, the Company's issued share capital will consist of 55,920,554 common shares with no common shares held in treasury. Therefore, the above figure of 55,920,554 may be used by shareholders 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 and Transparency Rules.

About Akers Biosciences, Inc.

Akers Bio develops, manufactures, and supplies rapid screening and testing products designed to deliver quicker and more cost-effective healthcare information to healthcare providers and consumers. The Company has advanced the science of diagnostics while responding to major shifts in healthcare through the development of several proprietary platform technologies. The Company's state-of-the-art rapid diagnostic assays can be performed virtually anywhere in minutes when time is of the essence. The Company has aligned with major healthcare companies and high volume medical product distributors to maximize product offerings, and to be a major worldwide competitor in diagnostics.

Additional information on the Company and its products can be found at www.akersbio.com. Follow us on Twitter @AkersBio.

For more information:

Akers Biosciences, Inc.

John J. Gormally, Chief Executive Officer

Raymond F. Akers, Jr. PhD, Executive Chairman and Chief Scientific Director

Tel. [phone]

finnCap (UK Nominated Adviser and Broker)

Adrian Hargrave / Scott Mathieson (Corporate Finance)

Steve Norcross (Broking)

Tel. [phone]

Vigo Communications (Global Public Relations)

Ben Simons / Fiona Henson / Emma Lord

Tel. [phone]

Email: [e-mail]

Cautionary Statement Regarding Forward Looking Statements

Statements contained herein that are not based upon current or historical fact are forward-looking in nature and constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements reflect the Company's expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. These statements include but are not limited to statements regarding the intended terms of the offering, closing of the offering and use of any proceeds from the offering. When used herein, the words "anticipate," "believe," "estimate," "upcoming," "plan," "target", "intend" and "expect" and similar expressions, as they relate to Akers Biosciences, Inc., its subsidiaries, or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties, and other factors that could cause the Company's actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements.

This information is provided by RNS

The company news service from the London Stock Exchange

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January 16, 2018 13:20 ET (18:20 GMT)