Avacta Group PLC Issue of Equity (5402G)

TIDMAVCT

RNS Number : 5402G

Avacta Group PLC

23 November 2015

 
 23 November 2015 
 

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 2,506,490 Ordinary Shares of 0.1p ("new Ordinary Shares") have been issued by the Company pursuant to the exercise of share options.

Application has been made for the new Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on 26 November 2015.

The total number of Ordinary Shares in issue following the above issue will be 6,743,645,954 each with voting rights. No Ordinary Shares are held in Treasury.

The above figure of 6,743,645,954 shares 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 FSA's Disclosure and Transparency Rules.

- Ends -

For further information:

 
 Avacta Group plc                                  Tel: [phone] 
  Alastair Smith, Chief Executive Officer           0452 
  Tim Sykes, Chief Financial Officer                www.avacta.com 
 
   Numis Securities Limited                          Tel: [phone] 
   Michael Meade / Freddie Barnfield - Nominated     1000 
   Adviser                                           www.numiscorp.com 
   James Black - Corporate Broking 
 
   Media Enquiries                                   Tel: [phone] 
   FTI Consulting                                    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. The 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. The 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 oncology and bleeding disorders as well as several partnered development programmes. Avacta is commercialising Affimer reagents through custom Affimer services to provide bespoke solutions to customers and via a growing on-line catalogue of Affimer reagents.

This information is provided by RNS

The company news service from the London Stock Exchange

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November 23, 2015 02:00 ET (07:00 GMT)