Avacta Group PLC Director/PDMR Shareholding (6008D)

TIDMAVCT

RNS Number : 6008D

Avacta Group PLC

08 July 2016

08 July 2016

Avacta Group plc

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

Director's Dealing

Avacta Group plc (AIM: AVCT), the developer of Affimer(R) biotherapeutics and research reagents, announces that application has been made to AIM for the admission of 3,393 new ordinary shares of 10p each (the "New Ordinary Shares").

The New Ordinary Shares have been allotted pursuant to the purchase by Michael Albin, Non-Executive Director of the Company, of new ordinary shares in accordance with the terms set out in the Company's announcement of 23 February 2016.

As set out in the Company's announcement of 23 February 2016, on 22 February 2016 Mr Albin entered into a binding commitment to purchase GBP3,125 of new Avacta shares per quarter and the New Ordinary Shares represent his investment for the period of 1 April 2016 to 30 June 2016. Mr Albin purchased the New Ordinary Shares on 7 July 2016 at a price of 92.1 pence per share.

Following admission of the 3,393 New Ordinary Shares to trading on AIM, the total number of ordinary shares with voting rights in issue will be 68,379,282 and this figure 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 Financial Conduct Authority's Disclosure and Transparency Rules.

Admission of the New Ordinary Shares ("Admission"), which will rank pari passu in all respects with the Company's existing shares in issue, is expected to occur on 13 July 2016. Following Admission, Mr Albin will be interested in a total of 4,292 ordinary shares of 10p each in the Company, representing less than 0.1% of the Company's issued share capital.

Enquiries:

 
     Avacta Group plc                              Tel: +44 (0) 
      Alastair Smith, Chief Executive               844 414 0452 
      Officer                                       www.avacta.com 
      Tony Gardiner, Chief Financial 
      Officer 
     Numis Securities Limited                      Tel: +44 (0) 
      Michael Meade / Freddie Barnfield             207 260 1000 
      - Nominated Adviser                           www.numiscorp.com 
      James Black - Corporate Broking 
     WG Partners                                   Tel: +44 (0) 
      David Wilson                                  203 705 9318 
      Nigel Barnes                                  Tel: +44 (0) 
      Claes Spang                                   203 705 9217 
                                                    www.wgpartners.co.uk 
     Media Enquiries                               Tel: +44 (0) 
      FTI Consulting                                203 727 1000 
      Simon Conway / Natalie Garland-Collins        [e-mail] 
 

Notes to Editors

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

END

DSHAKODNPBKDAOK

(END) Dow Jones Newswires

July 08, 2016 02:00 ET (06:00 GMT)