REG - Avacta Group PLC - Issue of Equity and Total Voting Rights

AvactaAnnouncement

22/01/2024 11:00

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RNS Number : 4688A  Avacta Group PLC  22 January 2024

 

 

 

 

22 January 2024

 

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 issued
and allotted a total of 3,425,373 new ordinary shares of 10 pence each in the
Company ("New Ordinary Shares"). The New Ordinary Shares are being issued in
settlement of the quarterly principal of £2.55 million and interest repayment
of £0.66 million in respect of the Company's unsecured convertible bond, as
detailed in Avacta's announcement on 18 October 2022.

 

After settlement of the quarterly repayment, the principal remaining under the
convertible bond will be reduced by £2.55 million to £38.25 million.

 

Application has been made to AIM for the admission to trading of the 3,425,373
New Ordinary Shares resulting from the conversion, which is expected to occur
at or around 8.00 am on 23 January 2024 ("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
288,286,207. 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.

 

 

 

-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 / William   www.stifel.com (http://www.stifel.com/)
 Palmer-Brown

 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 company focused on improving healthcare outcomes
through targeted cancer treatments and diagnostics.

 

Avacta has two divisions: an oncology biotech division harnessing proprietary
therapeutic platforms to develop novel, highly targeted cancer drugs, and a
diagnostics division, which is executing on an M&A led growth strategy to
create a full-spectrum diagnostics business focused on supporting healthcare
professionals and broadening access to testing. Avacta's two proprietary
platforms, Affimer® and pre|CISION™ underpin its cancer therapeutics whilst
the diagnostics division leverages the Affimer® platform to drive competitive
advantage in its markets.

 

The pre|CISION™ platform modifies chemotherapy to be activated only in the
tumour tissue, reducing systemic exposure and toxicity. This is achieved by
harnessing an enzyme called FAP which is highly upregulated in most solid
tumours compared with healthy tissues, turning chemotherapy into a "precision
medicine". The lead pre|CISION™ programme, AVA6000 a tumour activated form
of doxorubicin, is in Phase 1 studies and has shown dramatic improvement in
safety compared with standard doxorubicin, and early signs of clinical
activity.

 

Affimer® is a novel biologic platform which has significant technical and
commercial advantages compared with antibodies and is used both to develop
advanced immunotherapies and to improve the performance of immunodiagnostics.

 

With a balanced business and capital allocation model: a high-value oncology
pipeline supported by a revenue generating, fast-growing diagnostics business,
Avacta seeks to create long-term shareholder value alongside patient benefit.

 

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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