REG - Fusion Antibodies - Issue of shares to non-executive directors

Fusion AntibodiesAnnouncement

16/10/2024 07:00

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RNS Number : 3209I  Fusion Antibodies PLC  16 October 2024

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse (amendment)
(EU Exit) Regulations 2019/310 ("MAR"). With the publication of this
announcement via a Regulatory Information Service, this inside information is
now considered to be in the public domain.

 

16 October 2024

 

Fusion Antibodies plc

("Fusion" or the "Company")

 

Issue of shares to non-executive directors

 

Fusion Antibodies plc (AIM: FAB), specialists in pre-clinical antibody
discovery, engineering and supply for both therapeutic drug and diagnostic
applications, announces the issue of new ordinary shares of 4p each in the
capital of the Company ("Ordinary Shares") to certain non-executive directors
of the Company in satisfaction of part of their salary and fees for the
six-month period ended 30 September 2024.

 

As disclosed in the Company's annual report and accounts for the year ended 31
March 2024 (as announced on 5 September 2024), the Company's non-executive
directors agreed to receive part of their salary in new Ordinary Shares until
the end of the current financial year ending 31 March 2025 ("FY25"), in order
to assist the Company as it continues to carefully control its cash flows.

 

In total, 587,348 new Ordinary Shares have been issued (the "Director Shares")
at a deemed issue price of 4.15p per Ordinary Share, being the closing
mid-market price of an Ordinary Share on the date of grant, as follows:

 

 Director        Amount of salary/fees received in Director Shares  No. of Director Shares  Total holding of Ordinary Shares post issue  Percentage of enlarged share capital
 Simon Douglas   £7,500                                             180,722                 999,587(1)                                   1.04%
 Colin Walsh(2)  £13,500                                            325,301                 2,887,801(3)                                 3.01%
 Matthew Baker   £3,375                                             81,325                  237,575                                      0.25%

 

(1) Excludes Ordinary Shares held by relatives of Simon Douglas.

(2) Held by Walsh Strategic Management Limited, a company controlled by Colin
Walsh

(3) Includes 600,000 Ordinary Shares already held by Walsh Strategic
Management Limited, a company controlled by Colin Walsh and 1,400,000 Ordinary
Shares held by Hamniv (GP) Limited, a subsidiary of Crescent Capital NI
Limited ("Crescent Capital"). Colin Walsh is the Chief Executive and founder
of Crescent Capital.

 

Admission to trading on AIM

 

Application has been made to the London Stock Exchange plc for the Director
Shares to be admitted to trading on AIM ("Admission"). It is anticipated that
Admission will become effective and that dealings in the Director Shares will
commence on AIM at 8.00 a.m. on or around 22 October 2024.

 

Total voting rights

 

On Admission, the Company will have 95,952,912 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
95,952,912 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.

 

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

 

About Fusion Antibodies plc

 

Fusion is a Belfast based contract research organisation ("CRO") providing a
range of antibody engineering services for the development of antibodies for
both therapeutic drug and diagnostic applications.

 

The Company's ordinary shares were admitted to trading on AIM on 18 December
2017. Fusion provides a broad range of services in antibody generation,
development, production, characterisation and optimisation. These services
include antigen expression, antibody production, purification and sequencing,
antibody humanisation using Fusion's proprietary CDRx (TM) platform and the
production of antibody generating stable cell lines to provide material for
use in clinical trials. Since 2012, the Company has successfully sequenced
and expressed over 250 antibodies and successfully completed over 200
humanisation projects and has an international, blue-chip client base, which
has included eight of the top 10 global pharmaceutical companies by revenue.

 

The Company was established in 2001 as a spin out from Queen's University
Belfast. The Company's mission is to enable pharmaceutical and diagnostic
companies to develop innovative products in a timely and cost-effective manner
for the benefit of the global healthcare industry. Fusion Antibodies provides
a broad range of services in antibody generation, development, production,
characterisation and optimisation.

 

Fusion Antibodies growth strategy is based on combining the latest
technological advances with cutting edge science to deliver new platforms that
will enable Pharma and Biotech companies get to the clinic faster, with the
optimal drug candidate and ultimately speed up the drug development process.

 

The global monoclonal antibody therapeutics market was valued at $186 billion
in 2021 and is forecast to surpass $445 billion in 2028, an increase at a CAGR
of 13.2 per cent. for the period 2022 to 2028. Approximately 150 monoclonal
antibody therapies are approved and marketed globally as of June 2022 with the
top four antibody drugs each having sales of more than $3 bn in 2021.

 

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.    Simon Douglas

                                                                      2.    Colin Walsh

                                                                      3.    Matthew Baker
 2     Reason for the notification
 a)    Position/status                                                1.    Non-Executive Chair

                                                                      2.    Non-Executive Director

                                                                      3.    Non-Executive Director
 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 ("Ordinary Shares") in Fusion Antibodies plc

       Identification code

                                                                      Identification code (ISIN) for Fusion Antibodies plc ordinary shares:
                                                                      GB00BDQZGK16
 b)    Nature of the transaction                                      Issue of Ordinary Shares in lieu of salary
 c)    Price(s) and volume(s)                                          Price(s)        Volume(s)
                                                                      1.    4.15p      1.    180,722

                                                                      2.    4.15p      2.    325,301

                                                                      3.    4.15p      3.    81,325

 
 d)    Aggregated information:                                        N/A

       -      Aggregated volume

       -      Price
 e)    Date of the transaction                                        15 October 2024
 f)    Place of the transaction                                       Outside of a trading venue

 

d)

Aggregated information:

-      Aggregated volume

-      Price

N/A

e)

Date of the transaction

15 October 2024

f)

Place of the transaction

Outside of a trading venue

 

 

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