REG - Fusion Antibodies - Issue of Director Shares

Fusion AntibodiesAnnouncement

27/01/2026 07:05

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260127:nRSa4327Qa&default-theme=true

RNS Number : 4327Q  Fusion Antibodies PLC  27 January 2026

27 January 2026

 

Fusion Antibodies plc

("Fusion" or the "Company")

 

Issue of Director Shares

 

Fusion Antibodies plc (AIM: FAB), specialists in pre-clinical antibody
discovery, engineering and supply for both therapeutic drug and diagnostic
applications, announces, further to the notification of the conditional
placing and subscription to raise approximately £1.4 million (before
expenses) (the "Fundraise") released earlier today (the "Fundraise
Announcement"), the Company has issued 308,720 new ordinary shares of 4p each
in the share capital of the Company ("Ordinary Shares") to certain executive
Directors at a deemed subscription price equal to the Fundraise issue price of
13 pence per new Ordinary Share (the "Issue Price") in satisfaction of a
portion of their bonuses for the year ended 31 March 2025 (the "Director
Shares").

 

As disclosed in the Company's annual report and accounts for the year ended 31
March 2025 (as announced on 4 September 2025), the remuneration committee
recommended, and the board of directors of Fusion (the "Board" or the
"Directors") accepted, a bonus award for Adrian Kinkaid (CEO) and Richard
Buick (CSO) each of 20% of their gross salary, against their maximum
contractual bonus of 45% and 40% respectively. In recognition that the Company
is still controlling costs tightly and cognisant of the cash position, it was
agreed that the bonus award be split into two components: 40% cash and the
remainder to be satisfied via the issue of new Ordinary Shares once the
Company was in an open period.

 

As separately indicated in Fundraise Announcement, the Board has now resolved
to issue and allot, in aggregate, 308,720 new Ordinary Shares to Adrian
Kinkaid (CEO) and Richard Buick (CSO) at a deemed issue price equal to the
Issue Price and pursuant to the authorities previously granted at the
Company's annual general meeting held on 16 October 2025, as follows:

 

 Director        Amount of bonus award to be received in Director Shares  No. of Director Shares issued  Total holding of Ordinary Shares post issue  Percentage of enlarged issued share capital(1)
 Adrian Kinkaid  £23,846.94                                               183,438                                      1,033,438                      0.83%

 Richard Buick   £16,286.66                                                   125,282                                  1,125,282                      0.90%

 

(1) Based on the enlarged issued share capital of the Company following the
issue of the Director Shares, the Placing Shares and the Subscription Shares,
as defined in the Fundraise Announcement.

 

Admission to trading on AIM

 

Application has been made to the London Stock Exchange plc for the New
Ordinary Shares to be admitted to trading on AIM ("Admission"). It is
currently anticipated that Admission will become effective and that dealings
in the New Ordinary Shares will commence on AIM at 8.00 a.m. on or around 30
January 2026.

 

Total voting rights

 

On Admission, the Company will have 125,021,878 Ordinary Shares in issue, each
with one voting right. There are no shares held in treasury. Therefore, the
Company's total number of Ordinary Shares in issue and voting rights will be
125,021,878 and this figure may be used by shareholders from Admission 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
Company under the FCA's Disclosure Guidance and Transparency Rules.

 

Defined terms in this announcement shall have the same meaning as defined in
the Fundraise Announcement, unless otherwise defined herein.

 

Enquiries:

 

 Fusion Antibodies plc                                                             www.fusionantibodies.com
 Adrian Kinkaid, Chief Executive Officer                                Via Walbrook PR

 Stephen Smyth, Chief Financial Officer

 Fusion Antibodies interactive investor hub                             https://investorhub.fusionantibodies.com/
                                                                        (https://investorhub.fusionantibodies.com/)

 Allenby Capital Limited                                                Tel: +44 (0) 20 3328 5656
 James Reeve/Vivek Bhardwaj (Corporate Finance)

 Tony Quirke/Joscelin Pinnington (Sales and Corporate Broking)

 Shard Capital Partners LLP
 Damon Heath (Joint Broker)                                             Tel: +44 (0) 207 186 9952

 Walbrook PR                                 Tel: +44 (0)20 7933 8780 or fusion@walbrookpr.com
 Anna Dunphy                                                                                         Mob: +44 (0)7876 741
                                                                        001

 

Director/PDMR UK MAR disclosures

 

Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them.

 

 1     Details of the person discharging managerial responsibilities / person closely
       associated
 a)    Name                                                           1.    Adrian Kinkaid

                                                                      2.    Richard Buick

 2     Reason for the notification
 a)    Position/status                                                1.    Chief Executive Officer

                                                                      2.    Chief Scientific Officer

 b)    Initial notification /Amendment                                Initial notification
 3     Details of the issuer, emission allowance market participant, auction
       platform, auctioneer or auction monitor
 a)    Name                                                           Fusion Antibodies plc
 b)    LEI                                                            213800KBAYRC9VOQ9V39
 4     Details of the transaction(s): section to be repeated for (i) each type of

     instrument; (ii) each type of transaction; (iii) each date; and (iv) each
       place where transactions have been conducted
 a)    Description of the financial instrument, type of instrument    Ordinary shares of 4p each in Fusion Antibodies plc

       Identification code

                                                                      Identification code (ISIN) for Fusion Antibodies plc ordinary shares:
                                                                      GB00BDQZGK16
 b)    Nature of the transaction                                      Issue of Director Shares
 c)    Price(s) and volume(s)                                         Price(s)           Volume(s)
                                                                      1.    13 pence     183,438
                                                                      2.    13 pence     125,282

 
 d)    Aggregated information:                                        N/A

       -      Aggregated volume

       -      Price
 e)    Date of the transaction                                        27 January 2026, to be completed on 30 January 2026
 f)    Place of the transaction                                       Outside a trading venue

 

d)

Aggregated information:

-      Aggregated volume

-      Price

N/A

e)

Date of the transaction

27 January 2026, to be completed on 30 January 2026

f)

Place of the transaction

Outside a trading venue

 

About Fusion Antibodies plc

Fusion Antibodies plc is a Contract Research Organisation (CRO) located in
Northern Ireland that offers a integrated end-to-end range of antibody
discovery, engineering and expression services for all stages of human
therapeutic, veterinary therapeutic and diagnostic antibody development.

 

The range of services offered includes antibody discovery/generation,
development, characterisation, optimisation, and small-scale production. In
addition, the Company also offers antigen design, antigen expression, antibody
purification and sequencing, antibody humanisation using Fusion's proprietary
CDRx(TM) platform and cell line development, producing antibody generating
stable cell lines optimised for use downstream by the customer to produce
material for clinical trials. Since 2012, the Company has successfully
sequenced and expressed many thousands of antibodies and successfully
completed over 290 humanisation projects for its international customer base,
which has included eight of the top 10 global pharmaceutical companies by
revenue.

 

At every stage, our client's vision is central to how we work in combining the
latest technological advances with cutting edge science. In this work our
world-class discovery (OptiMAL® and OptiPhage(TM)), humanization and antibody
optimization platforms harness the power of natural somatic hypermutation
(SHM) to ensure the best molecule goes to the clinic.

 

Fusion Antibodies' growth strategy is based on enabling Pharma and Biotech
companies get to the clinic more effectively, using molecules with optimized
therapeutic profile and enhanced potential for successful development and
approval and, ultimately, on speeding up the drug discovery and development
process. Our Integrated Therapeutic Antibody Services ("ITA") offering
enhances the efficiency of this process by providing a continuous service
offering from as early as target nomination to as far as a stable cell line.
Fusion's use of SHM to create a fully human antibody library to capture the
human antibody repertoire addresses a continuing market need in antibody
discovery.

 

Fusion Antibodies' emphasis on antibody therapeutics is based on the size and
growth rate in the sector, with the market valued at $253 billion in 2024 and
forecast to reach nearly $500 billion by 2029.  From 2020 to 2024 there have
been 63 antibody therapeutics granted approval in either the USA or the EU, of
which 30 were for cancer and there were nine antibodies each with sales of
more than $5 billion in 2023.

 

While therapeutic antibodies are our primary focus, all the services are
directly applicable to the Diagnostic sector and also the new, more embryonic
veterinary markets and diversification into these markets gives the Company
further growth opportunities.

 

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  DSHAKABNOBKDBDB



            Copyright 2019 Regulatory News Service, all rights reserved