REG - Avacta Group PLC - Block Listing Application to AIM

AvactaAnnouncement

23/04/2024 09:45

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RNS Number : 6832L  Avacta Group PLC  23 April 2024

 

23 April 2024

Avacta Group plc

 

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

 

Block Listing Application to AIM

 

Avacta Group plc (AIM: AVCT), a life sciences company developing innovative,
targeted oncology drugs and powerful diagnostics announces application has
been made to AIM for a block listing of 6,613,808 ordinary shares of 10 pence
each in the Company ("Ordinary Shares"). This will be used to facilitate the
admission of shares to trading following the exercise of options granted under
the following two share schemes:

 

·      The EMI Scheme - 113,808 Ordinary Shares

·      The LTIP/ESOS Scheme - 6,500,000 Ordinary Shares

 

The Ordinary Shares will be issued from time to time pursuant to the Company's
existing plans including outstanding options already issued but not yet
exercised to the employees of the Company. New Ordinary Shares issued
following option exercises and admitted to trading under the block admission
will rank pari passu in all respects with the existing Ordinary Shares.

 

The block listing is expected to become effective on 26 April 2024. The
Company will continue to make six-monthly announcements of the utilisation of
the block admission, in line with its obligations under AIM Rule 29.

 

At the time of this announcement, Avacta has 359,042,104 Ordinary Shares in
issue. 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.

 

 

-Ends-

 

 

For further information from Avacta Group plc, please contact:

 

 Avacta Group plc                                                           Tel: +44 (0) 1904 21 7070

 Alastair Smith, Chief Executive Officer                                    www.avacta.com (http://www.avacta.com)

 Tony Gardiner, Chief Financial Officer

 Michael Vinegrad, Group Communications Director

 Stifel Nicolaus Europe Limited (Nomad and Joint Corporate Broker)          Tel: +44 (0) 207 710 7600

 Nicholas Moore / Nick Adams / Samira Essebiyea / Nick Harland / Ben Good   www.stifel.com (http://www.stifel.com/)

 Peel Hunt (Joint Corporate Broker)                                         Tel: +44 (0) 207 418 8900

 James Steel / Chris Golden / Patrick Birkholm                              www.peelhunt.com (http://www.peelhunt.com)

 ICR Consilium (Media and IR)                                               avacta@consilium-comms.com (mailto:avacta@consilium-comms.com)

 Mary-Jane Elliott / Jessica Hodgson / Sukaina Virji

 

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

Avacta Group is a UK-based life sciences company focused on improving
healthcare outcomes through targeted cancer treatments and diagnostics.

Avacta has two divisions focused on therapeutics and diagnostics.

Avacta Therapeutics: a clinical stage oncology biotech division harnessing
proprietary therapeutic platforms to develop novel, highly targeted cancer
drugs.

Avacta Diagnostics: focused on supporting healthcare professionals and
broadening access to diagnostics.

Avacta has two proprietary platforms, pre|CISION™ and Affimer®.

The pre|CISION™ platform is a highly specific substrate for fibroblast
activation protein (FAP) which is upregulated in most solid tumours compared
with healthy tissues. The pre|CISION™ platform harnesses this tumour
specific protease to activate pre|CISION™ peptide drug conjugates and
pre|CISION™ antibody/Affimer® drug conjugates in the tumour
microenvironment, reducing systemic exposure and toxicity, allowing dosing to
be optimised to deliver the best outcomes for patients.

The lead pre|CISION™ programme AVA6000, a peptide drug conjugate form of
doxorubicin, is in Phase 1 studies. It has shown a dramatic improvement in
safety and tolerability in clinical trials to date compared with standard
doxorubicin and preliminary signs of clinical activity in multiple patients.

 

To register for news alerts by email go to
https://avacta.com/investors/investor-news-email-alerts/
(https://avacta.com/investors/investor-news-email-alerts/)

 

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