Issue of Equity and Total Voting Rights

RNS Number : 6484P

Avacta Group PLC

13 February 2023

 

13 February 2023

Avacta Group plc

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

Issue of Equity and Total Voting Rights

Avacta Group plc (AIM: AVCT), a life sciences company developing innovative, targeted oncology drugs and powerful diagnostics, today announces it has received a Notice of Conversion in respect of £2.85 million of the £55.00 million unsecured convertible bond.

As a result of the conversion, Avacta will issue and allot 2,400,000 new ordinary shares of 10 pence each in the Company ("New Ordinary Shares"). After settlement of the conversion, the principal remaining under the convertible bond will be reduced by £2.85 million to £49.40 million.

Application has been made to AIM for the admission to trading of the 2,400,000 New Ordinary Shares resulting from the conversion, which is expected to occur at or around 8.00 am on 16 February 2023 ("Admission"). The New 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 272,411,549. 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 to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

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For further information from Avacta Group plc, please contact:

Avacta Group plc Alastair Smith, Chief Executive Officer Tony Gardiner, Chief Financial Officer Michael Vinegrad, Group Communications Director	Tel: [phone] www.avacta.com
Stifel Nicolaus Europe Limited (Nomad and Broker) Nicholas Moore / Nick Adams / Samira Essebiyea / Nick Harland / Dhiren Suares / William Palmer-Brown	Tel: [phone] www.stifel.com
FTI Consulting (Financial Media and IR) Simon Conway / Alex Shaw / George Kendrick	Tel: [phone] [e-mail]
Zyme Communications (Trade and Regional Media) Lily Jeffery	Tel: [phone] [e-mail]

About Avacta Group plc - https://www.avacta.com

Avacta Group plc is a life sciences company working to improve people's health and well-being through innovative oncology drugs and powerful diagnostics. Operating through two divisions, Diagnostics and Therapeutics, the Group's mission is to provide professionals and consumers with solutions that improve healthcare, fitness and well-being.

Avacta's Therapeutics Division, a clinical stage oncology drug innovator, is building a wholly owned pipeline of novel Affimer^® immunotherapies and pre|CISION™ tumour targeted chemotherapies. This approach is designed to address the lack of a durable response to current cancer immunotherapies experienced by most patients and reduce the severe systemic toxicities caused by chemotherapies. There are five programmes in the pipeline as well as several global research collaborations and licensing partnerships. Avacta's lead programme, AVA6000, is a preCISION™ tumour-targeted form of the established chemotherapy doxorubicin. AVA6000 is in Phase I clinical trials in patients with locally advanced or metastatic selected solid tumours.

The Affimer^® platform is an alternative to antibodies that has been designed to address many of the drawbacks of antibodies which, despite their shortcomings, currently dominate the immuno-diagnostics and immuno-therapeutics markets.

The pre|CISION™ tumour targeting platform can be used to modify a chemotherapy in order to selectively release the active drug in tumour tissue thereby reducing the systemic exposure that causes damage to healthy tissues. pre|CISION™ modified chemotherapies are designed to reduce the side effects and improve the overall safety and therapeutic potential of these powerful anti-cancer treatments.

Avacta's Diagnostics Division develops and supplies a broad range of in-vitro diagnostic (IVD) solutions. The Division is growing rapidly through an M&A strategy to deliver a global scale IVD business providing market leading solutions for healthcare professionals and consumers to inform treatment and monitor health and well-being. In October 2022, Avacta acquired Launch Diagnostics which serves the hospital pathology laboratory market in the UK and Europe. Avacta Diagnostic's research and development centre in Wetherby, UK uses its proprietary Affimer^® platform to differentiate immunodiagnostic products to provide marketing leading performance.

To register for news alerts by email go to www.avacta.com/investor-news-email-alerts

 

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