REG - Abingdon Health PLC - Earn-out Consideration and Issue of Equity

Abingdon HealthAnnouncement

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RNS Number : 8016E  Abingdon Health PLC  19 May 2026

 

Abingdon Health plc

("Abingdon Health", the "Group" or the "Company")

 

Earn-out Consideration and Issue of Equity

 

York, UK and Madison, WI, USA, 19 May 2026: Abingdon Health plc (AIM: ABDX)
(OTCQB: ABDXF), a leading international developer, manufacturer and regulatory
services provider for rapid diagnostic tests and med-tech, announces that the
earn-out conditions in respect of its acquisition of IVDeology Holdings Ltd
("IVDeology"), originally announced on 7 May 2024 (the "Acquisition"), have
been satisfied.

 

Pursuant to the terms of the share purchase agreement ("SPA"), earn-out
consideration of £200,000 (the "Earn-out Consideration") has become payable
following the achievement of the maximum revenue target for the two-year
earn-out period following acquisition.

 

Accordingly, the Earn-out Consideration will be satisfied by the issue of
1,673,640 new ordinary shares in the Company ("Earn-out Shares") to the
vendors, Stuart Angell and Nancy Consterdine, in equal proportions.

 

The number of Earn-out Shares to be issued has been determined by reference to
an issue price calculated as the average of the closing middle market price of
the Company's ordinary shares for the five dealing days from 12 May to 18 May
2026 (inclusive), being the five dealing days ending on the dealing day
immediately prior to the settlement date, in accordance with the terms of the
SPA (the "Issue Price").

 

The Earn-out Shares will rank pari passu in all respects with the Company's
existing ordinary shares.

 

In accordance with the terms of the SPA, the Earn-out Shares will be subject
to lock-in and orderly market provisions, comprising a 12-month lock-in period
followed by a 12-month orderly market arrangement.

 

Application has been made for the Earn-out Shares to be admitted to trading on
AIM ("Admission") and it is expected that Admission will become effective at
8.00 a.m. on 26 May 2026.

 

Total Voting Rights

Following Admission, the Company's issued share capital will consist of
252,751,490 ordinary shares of 0.025 pence each, each with one voting right.
The Company does not hold any shares in treasury.

 

Therefore, the total number of voting rights in the Company will be
252,751,490. This figure may be used by shareholders as the denominator for
the calculations by which they determine if they are required to notify their
interest in, or a change to their interest in, the Company's share capital
under the FCA's Disclosure Guidance and Transparency Rules.

 

Any shareholders wishing to keep up to date with Abingdon Health news, please
email abingdon@walbrookpr.com

 

Enquiries:

 

 Abingdon Health plc                           www.abingdonhealth.com/investors/ (http://www.abingdonhealth.com/investors/)
 Chris Hand, Executive Chairman                                                         Via Walbrook PR

 Tom Hayes, CFO

 Cavendish Capital Markets Limited (Sole Broker and Nominated Adviser)                    Tel: +44 (0)20 7220 0500
 Geoff Nash / Isaac Hooper / Joe Smith (Corporate Finance)

 Nigel Birks (Life Science Specialist Sales)

 Walbrook PR (Media & Investor Relations)      Tel: +44 (0)20 7933 8780 or abingdon@walbrookpr.com
                                               (mailto:abingdon@walbrookpr.com)
 Paul McManus / Alice Woodings                 Mob: +44 (0)7980 541 893 / +44 (0)7407 804 654

 

 

About Abingdon Health

 

Abingdon Health Group is a leading med-tech contract service provider
offering its services to an international customer base.

 

The Group's CDMO
(https://www.abingdonhealth.com/services/lateral-flow-cdmo-development)
(Contract Development and Manufacturing Organisation) expertise offers lateral
flow product development
(https://www.abingdonhealth.com/services/your-complete-lateral-flow-partner/)
, regulatory strategy support, technology transfer and manufacturing services
(https://www.abingdonhealth.com/services/lateral-flow-scale-up-technical-transfer)
for customers looking to develop new assays or transfer existing
laboratory-based assays to a lateral flow format.  Abingdon Health has the
internal capabilities to take lateral flow projects, in areas such as
infectious disease and clinical testing
(https://www.abingdonhealth.com/services/your-complete-lateral-flow-partner/)
, including companion diagnostics
(https://www.abingdonhealth.com/services/companion-diagnostics-ivd-cdmo) ,
animal health and environmental testing, from initial concept through to
routine manufacturing; from idea to commercial success.

 

Abingdon's regulatory services
(https://www.abingdonhealth.com/services/regulatory-services/) companies,
Compliance Solutions (Life Sciences) and IVDeology, provide a broad range of
regulatory services to the in vitro diagnostic and wider medical device
industry, to support customers in bringing products to market across a range
of territories including the USA, EU and the UK. Its consultancy services
range from design, implementation and maintenance of quality management
systems, preparation of technical files for regulatory approvals, part-time
and interim management support, auditing both internal and external,
management reviews and presentations, training and mentoring.  The Company's
subsidiary, Abingdon Analytical Ltd, offers analytical testing and performance
evaluation
(https://www.abingdonhealth.com/services/performance-evaluation-services/) to
generate the required technical and data for regulatory approval for lateral
flow and other in vitro diagnostic assays from its Doncaster, England
facilities.

 

Founded in 2008, Abingdon Health is headquartered in York, England with
laboratories in Doncaster, England and laboratories and commercial offices in
Madison, Wisconsin, USA.

 

Abingdon Health's brochures
(https://www.abingdonhealth.com/knowledge-centre/brochures-guides)  outlines
the comprehensive support the Group can now provide to its international
customers.  For more information visit: www.abingdonhealth.com
(https://urldefense.proofpoint.com/v2/url?u=http-3A__www.abingdonhealth.com_&d=DwMFAg&c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&r=b40MoFA_Q_fdsT77LXB5t3JFUZjlmpd2MVbmgvoBIOo&m=5rmPWmSeAYNtvo-wVGL_4V7p0wZ2qRPhbqDj6E6FHnhVakMVyzvk7wZG1jS6vI4P&s=Cd1Yy0EoU5vx33xedoTE3bCKbljgDOIRD8ol-bb59BM&e=)
.

 

LEI - 213800XFI4WV3FBILO20

 

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