AGM Result and Placing

RNS Number : 9142Z

Avacta Group PLC

21 January 2011

 



Avacta Group plc ("Avacta" or "the Company")

AGM result and Placing

Avacta is pleased to announce that all resolutions proposed at its Annual General Meeting ("AGM") held at 2pm today, Friday 21 January 2011, were duly passed.

Further to the Company's announcement on 12 January 2011 of a placing of new ordinary shares of 0.1 pence each ("New Ordinary Shares") at a price of 1.05 pence per Ordinary Share (the "Placing") being conditional upon the passing of resolutions at the AGM giving directors authority to issue shares and disapply shareholder pre-emption rights, the Company can now proceed with the Placing.  Application has been made for the New Ordinary Shares to be admitted to trading on the AIM market of London Stock Exchange plc and dealings are expected to commence on 24 January 2011. The New Ordinary Shares will rank pari passu with existing shares in issue. Following the Placing, Avacta's issued share capital will comprise 1,633,187,577 ordinary shares of par value 0.1 pence each with voting rights.  No ordinary shares are held in treasury.

The above figure of 1,633,187,577 shares may be used by shareholders 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 FSA's Disclosure and Transparency Rules.

21 January 2011

For further information, please contact:

Avacta Group plc	Tel:  [phone]
Alastair Smith, Chief Executive Officer Tim Sykes, Chief Financial Officer	www.avacta.com
Broker XCAP Securities Plc John Grant/Karen Kelly/David Newton Nominated Adviser Grant Thornton Corporate Finance	Tel:  [phone] www.xcapgroup.com Tel:  [phone] www.grantthornton.co.uk
Philip Secrett/Colin Aaronson/David Hignell

Notes to Editors:

About Avacta

Avacta was spun-out from the University of Leeds in 2004 by its current management team as a biophysics company, with the aim of combining the disciplines of physics and biology to develop innovative technologies and expert technical services to address unmet needs in the biopharmaceutical and healthcare sectors. Avacta has a core bio-analytical technology development programme addressing the needs of the biopharmaceutical sector to fully characterise their new products at the earliest stage in their development to reduce the risk of late stage failure. High end analytical instruments and leading edge contract research services are being provided to the biopharmaceutical and healthcare/personal-care materials sectors through Avacta's biotech support division, Avacta Analytical. High value solutions for rapid, point of care diagnostics based on these core bio-analytical technologies, with a near term focus on veterinary diagnostics, are being delivered through Avacta Animal Health. Longer term these technologies will be transferred into the human clinical diagnostics market. Avacta listed on AIM in August 2006.

 

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