Issue of Equity

RNS Number : 5672M

Avacta Group PLC

28 August 2013

 



Press Release

28 August 2013

Avacta Group plc

("Avacta" or the "Group")

Issue of Equity

Avacta Group plc (AIM:AVCT), a global provider of innovative diagnostic tools, consumables and reagents aimed at reducing the cost of human and animal healthcare, today announces that, following agreement of the Deferred consideration in respect of the acquisition of Reactivlab Limited on 9 March 2010, Deferred consideration of £54,041.47 will be paid.  This deferred consideration will be satisfied by the issue of 3,602,765 ordinary shares of 0.1p ("Ordinary Shares").

Additionally, the Group announces that 1,000,000 Ordinary shares have been issued by the Company pursuant to the exercise of share options by a former employee.

Application has been made for 4,602,765 new Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on 30 August 2013.

The total number of Ordinary Shares in issue following the above issue will be 4,016,493,134 each with voting rights.  No Ordinary Shares are held in Treasury.

The above figure of 4,016,493,134 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.

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Enquiries:

Avacta Group plc Alastair Smith, Chief Executive Officer Tim Sykes, Chief Financial Officer	Tel:  [phone] www.avacta.com
Numis Securities Limited     Michael Meade / Freddie Barnfield - Nominated Adviser James Black - Corporate Broking	Tel:  [phone] www.numiscorp.com
Media Enquiries Abchurch Communications Sarah Hollins / Joanne Shears / Harriet Rae [e-mail]	Tel: [phone] www.abchurch-group.com

Notes to Editors:

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 products address one of the most significant global challenges facing mankind today - the rapidly rising cost of healthcare for a growing and ageing population.

The cost of healthcare is driven by many factors.  New drugs are expensive to develop, most don't reach the patient and those that do are often very costly to prescribe.  Inadequate, incorrect or slow diagnosis causes delays that lead to longer or less effective courses of treatment resulting in lengthy or repeated hospitalisation.

Avacta is dedicated to developing and providing innovative and practical tools to help drug developers get their products to market quicker and more reliably, and to providing clinicians with rapid and powerful diagnostics to improve patient treatment, helping to reduce the cost of healthcare worldwide.

Avacta joined AIM in August 2006 and is based in Wetherby, England.

For further information visit www.avacta.com

 

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