Avacta Group PLC Issue of Equity (5893M)

TIDMAVCT

RNS Number : 5893M

Avacta Group PLC

31 July 2017

 
 31 July 2017 
 

Avacta Group plc

("Avacta", the "Company" or the "Group")

Issue of Equity

Avacta Group plc (AIM: AVCT), the developer of Affimer(R) biotherapeutics and research reagents, today announces that following the exercise of employee share options it has issued and allotted 500 new ordinary shares of 10 pence each in the Company ("Ordinary Shares"). Application has been made for the new Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on 7 August 2017 ("Admission").

Following Admission, the total number of Ordinary Shares with voting rights in issue will be 68,397,933. Accordingly, shareholders may use this figure 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.

- Ends -

For further information:

 
 Avacta Group plc                          Tel: +44 (0) 
  Alastair Smith, Chief Executive           844 414 0452 
  Officer                                   www.avacta.com 
  Tony Gardiner, Chief Financial 
  Officer 
 finnCap Ltd                                  Tel: +44 (0) 
  Geoff Nash / Giles Rolls - Nominated         207 220 0500 
  Adviser                                      www.finncap.com 
  Tim Redfern / Alice Lane - Corporate 
  Broking 
                                               Tel: +44 (0) 
  WG Partners                                  203 705 9318 
  Nigel Birks / Nigel Barnes                   Tel: +44 (0) 
  David Wilson / Claes Spang                   203 705 9217 
                                               www.wgpartners.co.uk 
 FTI Consulting (Financial Media           Tel: +44 (0) 
  and IR)                                   203 727 1000 
  Simon Conway / Natalie Garland-Collins    [e-mail] 
 

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 $50bn despite their shortcomings. Affimer 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 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 and bleeding disorders as well as partnered development programmes. Avacta is commercialising non-therapeutic Affimer reagents through licensing to developers of life sciences research tools and diagnostics.

This information is provided by RNS

The company news service from the London Stock Exchange

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July 31, 2017 07:00 ET (11:00 GMT)