Akers Biosciences, Inc. Director/PDMR Shareholding (7588L)

TIDMAKR

RNS Number : 7588L

Akers Biosciences, Inc.

28 December 2018

December 28, 2018

Akers Biosciences, Inc.

Director/PDMR Shareholding

Akers Biosciences, Inc. (NASDAQ: AKER) (AIM: AKR.L), (the "Company" or "Akers Bio"), a developer of rapid health information technologies, announces that, pursuant to the employment agreement between the Company and Howard R. Yeaton (Chief Executive Officer and Interim Chief Financial Officer of the Company) announced on October 12, 2018 which, following completion of the reverse stock split announced on November 16, 2018, provides for a monthly grant of 3,750 unrestricted shares of common stock of no par value ("Common Shares") pursuant to the Company's 2017 Equity Incentive Plan (the "Plan"), the Company has issued to Mr. Yeaton 7,500 Common Shares in respect of the share obligation for the months of October and November, 2018. These shares had a fair value per Common Share as at October 31, 2018 and November 30, 2018 of $2.80 and $1.51, respectively.

The Company will apply for the 7,500 Common Shares to be admitted to trading on AIM ("Admission") and Admission is expected to occur on January 7, 2019. Following Admission, the Company's issued share capital will consist of 12,482,708 Common Shares with no Common Shares held in treasury. This figure may therefore 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 Guidance and Transparency Rules.

Inquiries:

Akers Biosciences, Inc.

Howard R. Yeaton, Chief Executive Officer and Interim Chief Financial Officer

Tel. [phone]

finnCap (UK Nominated Adviser and Broker)

Ed Frisby / Scott Mathieson (Corporate Finance)

Tel. [phone]

Vigo Communications (Global Public Relations)

Ben Simons / Fiona Henson

Tel. [phone]

Email: [e-mail]

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.

Cautionary Note 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 the Private Securities Litigation Reform Act of 1995. Such forward-looking statements reflect the Company's expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. Such statements may include, without limitation, statements with respect to the Company's plans, compliance with the requirements of various regulatory agencies and certain NASDAQ Stock Market listing rules, objectives, projections, expectations and intentions and other statements identified by words such as "projects," "may," "will," "could," "would," "should, " "believes," "expects," "anticipates," "estimates," "intends," "plans," "potential" or similar expressions, as they relate to the Company, its subsidiaries, or its management. These statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties, including those detailed in the Company's filings with the Securities and Exchange Commission. Actual results, performance, prospects, and opportunities to may differ materially from those set forth in, or implied by, the forward-looking statements. These forward-looking statements involve certain risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company's control). The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

APPENDIX

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                             Howard R. Yeaton 
                -------------------------------  ------------------------------------- 
            2.   Reason for the Notification 
                ---------------------------------------------------------------------- 
 a)              Position/status                  PDMR - Chief Executive Officer and 
                                                   Interim Chief Financial Officer 
                -------------------------------  ------------------------------------- 
 b)              Initial notification/Amendment    Initial notification 
                -------------------------------  ------------------------------------- 
 3.              Details of the issuer, emission allowance market participant, 
                  auction platform, auctioneer or auction monitor 
                ---------------------------------------------------------------------- 
 a)              Name                             Akers Biosciences, Inc 
                -------------------------------  ------------------------------------- 
 b)              LEI                              213800CSKAC96ELS4K25 
                -------------------------------  ------------------------------------- 
 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,             Common Shares of no par value 
                  type of instrument 
                 Identification code              US00973E3009 
                -------------------------------  ------------------------------------- 
 b)              Nature of the transaction        Issuance of Common Shares 
                -------------------------------  ------------------------------------- 
 c)              Price(s) and volume(s)            Price(s)      Volume(s) 
                                                    295 cents     3,750 
 
                                                     152 cents     3,750 
                                                                 ---------- 
                -------------------------------  ------------------------------------- 
 d)              Aggregated information:          3,750 ordinary shares at a price of 
                   *    Aggregated volume          295 cents for the month of October 
                                                   2018 
                                                   3,750 ordinary shares at a price of 
                   *    Price                      152 cents for the month of November 
                                                   2018 
                -------------------------------  ------------------------------------- 
 e)              Date of the transaction          December 27, 2018 
                -------------------------------  ------------------------------------- 
 f)              Place of the transaction         London Stock Exchange, AIM Market 
                                                   (XLON) / Nasdaq, USA 
                -------------------------------  ------------------------------------- 
 

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 [e-mail] or visit www.rns.com.

END

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December 28, 2018 10:45 ET (15:45 GMT)