Avacta Group PLC Issue of Equity (3391S)

TIDMAVCT

RNS Number : 3391S

Avacta Group PLC

08 March 2019

8 March 2019

Avacta Group plc

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

Issue of Equity

Avacta Group plc (AIM: AVCT), the developer of Affimer(R) biotherapeutics and reagents, today announces that following the exercise of share options by a founder shareholder in an historic acquisition it has issued and allotted 121,434 new ordinary shares of 10 pence each in the Company ("Ordinary Shares").

Application has been made for the Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on 15 March 2019. The Ordinary Shares will rank pari passu with the existing Ordinary Shares of the Company.

Following Admission, the Company's enlarged issued share capital will be 115,956,471. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

-Ends -

For further information from Avacta Group plc, please contact:

 
 Avacta Group plc                           Tel: [phone] 
  Alastair Smith, Chief Executive            https://www.avacta.com/ 
  Officer 
  Tony Gardiner, Chief Financial Officer 
 finnCap Ltd                                Tel: [phone] 
  Geoff Nash / Giles Rolls - Nominated       www.finncap.com 
  Adviser 
  Tim Redfern - ECM 
                                             Tel: [phone] 
  WG Partners                                Tel: [phone] 
  Nigel Birks / Nigel Barnes                 www.wgpartners.co.uk 
  David Wilson / Claes Spang 
 Turner Pope Investments                    Tel: [phone] 
  James Pope                                 www.turnerpope.com 
  Ben Turner 
 
  Zyme Communications (Trade and Regional    Tel: [phone] 
  Media)                                     [e-mail] 
  Katie Odgaard 
 
  Yellow Jersey (Financial Media and         Tel: [phone] 
  IR)                                        Tel: [phone] 
  Sarah Hollins                              [e-mail] 
  Harriet Jackson 
 

About Avacta Group plc (https://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 $100bn despite their shortcomings. Affimer(R) 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(R) 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 as well as partnered development programmes. Avacta is commercialising non-therapeutic Affimer(R) reagents through licensing to developers of life sciences research tools and diagnostics.

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.

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March 08, 2019 07:14 ET (12:14 GMT)