Share Consolidation

RNS Number : 9470M

Avacta Group PLC

26 January 2016

 

26 January 2016

Avacta Group plc

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

Share Consolidation

Avacta Group plc (AIM: AVCT), the developer of Affimer® biotherapeutics and research reagents, announces that the one for one hundred consolidation of Avacta's ordinary shares of 0.1 pence each, approved by shareholders at its Annual General Meeting on 25 January 2016, has become effective today. The consolidation has increased the market price and decreased the number of shares in issue.

Following the consolidation, the Company now has a total of 67,462,959 ordinary shares of 10 pence each in issue, each with voting rights. No Ordinary Shares are held in Treasury.

The above figure of 67,462,959 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 FCA's Disclosure Rules and Transparency Rules.

Enquiries:

Avacta Group plc Alastair Smith, Chief Executive Officer Tony Gardiner, Chief Financial Officer	Tel:  [phone] www.avacta.com
Numis Securities Limited     Michael Meade / Freddie Barnfield - Nominated Adviser James Black - Corporate Broking WG Partners David Wilson Nigel Barnes Claes Spang	Tel:  [phone] www.numiscorp.com Tel:  [phone] Tel:  [phone] www.wgpartners.co.uk
Media Enquiries FTI Consulting Simon Conway / Natalie Garland-Collins	Tel: [phone] [e-mail]

Notes to Editors

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 $50bn 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 oncology and bleeding disorders as well as several partnered development programmes. Avacta is commercialising Affimer reagents through custom Affimer services to provide bespoke solutions to customers and via a growing on-line catalogue of Affimer reagents.

 

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