REG - Avacta Group PLC - Share Incentive Plan/Issue of Equity

AvactaAnnouncement

16/02/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240216:nRSP3582Da&default-theme=true

RNS Number : 3582D  Avacta Group PLC  16 February 2024

 

 

 

16 February 2024

 

Avacta Group plc

 

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

 

Share Incentive Plan/Issue of Equity

 

 

Avacta Group plc (AIM: AVCT), a life sciences company developing innovative,
targeted oncology drugs and powerful diagnostics, today announces that as part
of its HMRC Approved Share Incentive Plan ("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 on 14 February 2024 to all eligible employees. These shares
awarded will form part of the employee's remuneration package.

 

Accordingly, an additional 9,515 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 22 February 2024 ("Admission").
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
288,215,722. 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 Broker)               Tel: +44 (0) 207 710 7600

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

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

 James Steel / Sohail Akbar / 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 plc is a life sciences company working to improve people's health
and well-being through innovative oncology drugs and powerful diagnostics.
Operating through two divisions, Diagnostics and Therapeutics, the Group's
mission is to provide professionals and consumers with solutions that improve
healthcare, fitness and well-being.

 

Avacta's Therapeutics Division, a clinical stage oncology drug innovator, is
building a wholly owned pipeline of novel Affimer(®) immunotherapies and
pre|CISION™ tumour targeted chemotherapies. This approach is designed to
address the lack of a durable response to current cancer immunotherapies
experienced by most patients and reduce the severe systemic toxicities caused
by chemotherapies. There are five programmes in the pipeline as well as
several global research collaborations and licensing partnerships. Avacta's
lead programme, AVA6000, is a preCISION™ tumour-targeted form of the
established chemotherapy doxorubicin. AVA6000 is in Phase I clinical trials in
patients with locally advanced or metastatic selected solid tumours.

 

The Affimer(®) platform is an alternative to antibodies that has been
designed to address many of the drawbacks of antibodies which, despite their
shortcomings, currently dominate the immuno-diagnostics and
immuno-therapeutics markets.

 

The pre|CISION™ tumour targeting platform can be used to modify a
chemotherapy in order to selectively release the active drug in tumour tissue
thereby reducing the systemic exposure that causes damage to healthy tissues.
pre|CISION™ modified chemotherapies are designed to reduce the side effects
and improve the overall safety and therapeutic potential of these powerful
anti-cancer treatments.

 

Avacta's Diagnostics Division develops and supplies a broad range of
in-vitro diagnostic (IVD) solutions. The Division is growing rapidly through
an M&A strategy to deliver a global scale IVD business providing market
leading solutions for healthcare professionals and consumers to inform
treatment and monitor health and well-being. In October
2022, Avacta acquired Launch Diagnostics which serves the hospital
pathology laboratory market in the UK and Europe. In May
2023, Avacta acquired Coris Bioconcept a Belgium based lateral flow test
developer and manufacturer adding a broad range of marketed professional-use
rapid tests into the Diagnostics Division. Avacta Diagnostic's research and
development centre in Wetherby, UK uses its proprietary
Affimer(®) platform to differentiate immunodiagnostic products to provide
marketing leading performance.

 

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

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  IOEQKPBPKBKBOBD