Avacta Group PLC Result of General Meeting (7074U)

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RNS Number : 7074U

Avacta Group PLC

31 July 2015

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, NEW ZEALAND, JAPAN OR THE REPUBLIC OF SOUTH AFRICA IN WHOLE OR IN PART, OR ANY JURISDICTION IN WHICH SUCH PUBLICATION OR DISTRIBUTION IS PROHIBITED.

 
        31 July 2015 
 

Avacta Group plc

("Avacta" or the "Group")

Result of General Meeting

Avacta Group plc (LSE: AVCT), the global provider of proprietary diagnostic tools, consumables and reagents for life sciences, is pleased to announce that the Resolutions put to shareholders at today's General Meeting in connection with the Placing announced by the Company on 15 July 2015, were duly passed.

Following the passing of the Resolutions at the General Meeting, a total of 1,760,000,000 new Ordinary Share s, have been allotted to existing and new investors, conditional upon the admission of such Ordinary Shares to trading on AIM.

It is expected that settlement will occur, admission to trading on AIM will become effective and dealings will commence in respect of the 1,760,000,000 new Ordinary Shares, at 8.00am on 3 August 2015.

Upon admission, the Placing Shares will be issued, credited as fully paid and will rank pari passu in all respects with the existing Ordinary Shares of the Company.

Following admission of the 1,760,000,000 new Ordinary Shares to trading on AIM, the total number of Ordinary Shares with voting rights in issue will be 6,739,649,550 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.

Capitalised terms in this announcement have the same meaning as in the circular sent to Shareholders in connection with the Placing on 15 July 2015.

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 
 
       WG Partners LLP - Joint Broker                        Tel: [phone] 
       David Wilson                                          9330 
       Claes Spång                                      www.wgpartners.co.uk 
 
       Media Enquiries                                       Tel: [phone] 
       FTI Consulting                                        1000 
       Simon Conway/Natalie Garland-Collins                  [e-mail] 
 

Notes to Editors

Avacta Group plc (www.avacta.com)

Avacta Group plc is a global provider of innovative technologies, consumables and reagents for the life science markets, from drug discovery to diagnostics. 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. Affimers have 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. Affimers are 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 is commercialising the Affimer reagents through custom Affimer services to provide bespoke solutions to customers, via a growing on-line catalogue of Affimer reagents and, in the longer term, by developing Affimers with therapeutic properties for out-licensing.

This information is provided by RNS

The company news service from the London Stock Exchange

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