REG - Avacta Group PLC - Block Listing Application to AIM

AvactaAnnouncement

16/01/2023 10:30

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RNS Number : 8368M  Avacta Group PLC  16 January 2023

 

 

16 January 2023

 

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 3,000,000 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 - 800,000 Ordinary Shares

·      The LTIP/ESOS Scheme - 2,200,000 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 20 January 2023. The
Company will 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 266,478,465 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 Broker)                               Tel: +44 (0) 207 710 7600

 Nicholas Moore / Nick Adams / Samira Essebiyea / Nick Harland / Dhiren Suares   www.stifel.com (http://www.stifel.com/)
 / William Palmer-Brown

 FTI Consulting (Financial Media and IR)                                         Tel: +44(0) 203 727 1000

 Simon Conway / Alex Shaw / George Kendrick                                      Avacta.LS@fticonsulting.com (mailto:Avacta.LS@fticonsulting.com)

 Zyme Communications (Trade and Regional Media)                                  Tel: +44 (0)7891 477 378

 Lily Jeffery                                                                    lily.jeffery@zymecommunications.com

                                                                               (mailto:katie.odgaard@zymecommunications.com)

 

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.

 

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 for healthcare professionals and consumers 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. 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)

 

 

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