Issue of Equity

RNS Number : 9924X

Avacta Group PLC

30 November 2017

 

30 November 2017

Avacta Group plc

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

Share Incentive Plan/Issue of Equity

Avacta Group plc (AIM: AVCT), the developer of Affimer^® biotherapeutics and reagents, is pleased to announce that it has established an HMRC approved Share Incentive Plan ("SIP Award Scheme") for all eligible UK employees. 

As part of the SIP Award Scheme, ordinary shares of 10p each in the Company ("Ordinary Shares") up to a value of £3,000 per employee will be issued at the prevailing middle market price at the close of business the day before an award to all eligible employees. These shares awarded will form part of the employee's remuneration package.

Accordingly, today 229,591 Ordinary Shares have been issued as part of the SIP Award Scheme to eligible employees.

Application has been made for the Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on 6 December 2017. 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 68,632,835. 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.

For further information from Avacta Group plc, please contact:

Avacta Group plc Alastair Smith, Chief Executive Officer Tony Gardiner, Chief Financial Officer	Tel:  [phone] www.avacta.com
finnCap Ltd Geoff Nash / Giles Rolls - Nominated Adviser Tim Redfern / Alice Lane / Nikita Jain - Corporate Broking WG Partners Nigel Birks / Nigel Barnes David Wilson / Claes Spang	Tel:  [phone] www.finncap.com Tel:  [phone] Tel:  [phone] www.wgpartners.co.uk
Zyme Communications (Trade and Regional Media) Katie Odgaard Yellow Jersey PR (Financial Media and IR) Sarah Hollins	Tel: [phone] [e-mail]  Tel: [phone] [e-mail]

About Avacta Group plc (www.avacta.com)

Avacta's principal focus is on its proprietary Affimer^® 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 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 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 and bleeding disorders as well as partnered development programmes.  Avacta is commercialising non-therapeutic Affimer reagents through licensing to developers of life sciences research tools and diagnostics.

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

 

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