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

AvactaAnnouncement

20/09/2023 14:00

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RNS Number : 1042N  Avacta Group PLC  20 September 2023

 

 

 

 

20 September 2023

 

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
received a notice of conversion for £0.85 million of the principal amount of
the Company's unsecured convertible bond (the "Conversion"), as detailed in
Avacta's announcement on 18 October 2022.

 

As a result of the Conversion, Avacta will issue and allot 715,789 new
ordinary shares of 10 pence each in the Company ("New Ordinary Shares"). After
settlement of the conversion, the principal remaining under the convertible
bond will be reduced by £0.85 million to £43.35 million.

 

Application has been made to AIM for the admission to trading of the 715,789
New Ordinary Shares resulting from the conversion, which is expected to occur
at or around 8.00 am on 26 September 2023 ("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
280,082,440. 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 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

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

 James Steel / Chris Golden / Patrick Birkholm                                   www.peelhunt.com (http://www.peelhunt.com)

 ICR Consilium                                                                   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 pre|CISION™ 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 market-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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