RNS Number : 8377Q
Xenetic Biosciences PLC
26 October 2011
26 October 2011
Xenetic Biosciences plc ("Xenetic" or the "Company")
Director Dealing and holdings in company
Xenetic Bio (AIM: XEN.L), the bio-pharmaceutical company specialising in the development of high-value differentiated biologic drugs and vaccines, has been informed that on 25 October 2011 FDS Pharma and Related Parties transferred 34,000,000 ordinary shares of 0.5 pence each ("Ordinary Shares") in Xenetic to SynBio LLC, representing 19.2 per cent. of the issued share capital of Xenetic, the commercial context of which is more fully set out in today's Announcement titled ""First Closing Update".
Unless the context requires otherwise, defined terms in this announcement shall have the meanings given to them in the Shareholder Circular of 4 August 2011 (the "Circular").
FDS Pharma and Related Parties are represented on the board of Xenetic by Dr Dmitry Genkin and Igor Nikolaev, both of whom are non-executive directors of the Company. Following the transfer of the Ordinary Shares FDS Pharma and Related Parties have a resultant interest in 7,440,050 Ordinary Shares representing 4.2 per cent. of the issued share capital of the Company.
The underlying directors' dealing information required to be disclosed for the purposes of the AIM Rules for Companies is set out below:
1. Dmitry Genkin, on behalf of FDS Pharma, transferred 32,126,416 shares into the name of SynBio LLC, leaving a residual holding for the beneficial interest of FDS Pharma of 64,560 shares representing 0.036% of the issued share capital in the Company.
2. Igor Nikolaev, who holds Xenetic Ordinary Shares on behalf of FDS Pharma and Related Parties, transferred 1,873,584 such shares into the name of SynBio LLC, leaving him with a residual holding for the beneficial interest of FDS Pharma and Related Parties of 7,375,490 shares representing 4.157% of the issued share capital in the Company.
This transfer of Ordinary Shares constitutes a step in the process of First Closing of the Proposals as set out in the Circular and as such has been effected for nil consideration. Both Dmitry Genkin and Igor Nikolaev are to become directors of Synbio LLC at First Closing.
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