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AQB - AquaBounty Technologies Inc News Story

$5.85 -0.1  -1.2%

Last Trade - 16/04/21

Small Cap
Market Cap £300.1m
Enterprise Value £237.2m
Revenue £92.3k
Position in Universe 3733rd / 6850

Aqua Bounty Tech Inc - Reverse Share Split Update

Thu 29th December, 2016 5:16pm
RNS Number : 0015T
Aqua Bounty Technologies, Inc.
29 December 2016

29 December 2016

AquaBounty Technologies Inc.

("AquaBounty" or the "Company")

Reverse Share Split Update

AquaBounty Technologies, Inc. (AIM: ABTU), a biotechnology company focused on enhancing productivity in aquaculture and a majority-owned subsidiary of Intrexon Corporation (NYSE: XON) ("Intrexon"), announces an update to its proposed reverse share split.

Further to its announcement of 19 December 2016, the Company now announces that it has set the record date and the effective date for its proposed reverse share split on its common shares ("Common Shares") as 4 January 2017 and 5 January 2017, respectively.As previously announced, the Company has filed a Form 10 registration statement with the U.S. Securities and Exchange Commission to register its Common Shares pursuant to Section 12(b) of the Securities Exchange Act of 1934 in order to list the Common Shares for trading on NASDAQ.In order to satisfy the NASDAQ listing requirements related to pricing of its Common Shares, the Company has planned to effect a 1-for-30 reverse share split of its Common Shares ("New Common Shares").

The Company has set up a line of stock for its New Common Shares, which will be able to be traded as Depository Interests in CREST.All Common Shares held by each shareholder on the Record Date will be aggregated prior to effecting the reverse share split.A shareholder who would otherwise be entitled to a fraction of a share as a result of the reverse share split will be entitled to receive a cash payment in an amount equal to the fraction to which the shareholder would otherwise be entitled multiplied by the per share closing price of the Common Shares on AIM, a market of the London Stock Exchange plc, at the close of trading on the date on which the reverse share split is effective, for any payment greater than 5.00.

Following the reverse share split, the Company's issued share capital will consist of 6,463,780 of $0.001 each New Common Shares, with each share carrying the right to one vote. The total number of voting rights in the Company will therefore be 6,463,780.

Application will be made to AIM for the admission to trading of the 6,463,780 New Common Shares in the Company in issue following the completion of the reverse share split. It is expected that the New Common Shares will be admitted to trading at 8.00am on Thursday 5 January 2017 under the following new stock identification codes: SEDOL code BD30Q43 and ISIN code US03842K2006. The TIDM will remain as ABTU.



David Frank, Chief Financial Officer

+1 978 648 6048

Stifel Nicolaus Europe Limited

Stewart Wallace

+44 20 7710 7600

Luther Pendragon

Harry Chathli, Claire Norbury

+44 20 7618 9100

This information is provided by RNS
The company news service from the London Stock Exchange
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