Block Listing Application to AIM
18 October 2023
Avacta Group plc
("Avacta" or the "Group" or the "Company")
Block Listing Application to AIM
Avacta Group plc (AIM: AVCT), a life sciences company focused on improving healthcare outcomes through targeted cancer treatments and diagnostics, announces application has been made to AIM for a block listing of 4,300,000 ordinary shares of 10 pence each in the Company ("Ordinary Shares"). This will be used to facilitate the admission of shares to trading following the exercise of options granted under the following two share schemes:
· The EMI Scheme - 600,000 Ordinary Shares
· The LTIP/ESOS Scheme - 3,700,000 Ordinary Shares
The Ordinary Shares will be issued from time to time pursuant to the Company's existing plans including outstanding options already issued but not yet exercised to the employees of the Company. New Ordinary Shares issued following option exercises and admitted to trading under the block admission will rank pari passu in all respects with the existing Ordinary Shares.
The block listing is expected to become effective on 24 October 2023. The Company will continue to make six-monthly announcements of the utilisation of the block admission, in line with its obligations under AIM Rule 29.
At the time of this announcement, Avacta has 280,826,106 Ordinary Shares in issue. 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 in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.
-Ends-
For further information from Avacta Group plc, please contact:
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Avacta Group plc Alastair Smith, Chief Executive Officer Tony Gardiner, Chief Financial Officer Michael Vinegrad, Group Communications Director
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Tel: +44 (0) 1904 21 7070 |
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Stifel Nicolaus Europe Limited (Nomad and Joint Corporate Broker) Nicholas Moore / Nick Adams / Samira Essebiyea / Nick Harland / William Palmer-Brown
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Tel: +44 (0) 207 710 7600 |
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Peel Hunt (Joint Corporate Broker) James Steel / Chris Golden / Patrick Birkholm |
Tel: +44 (0) 207 418 8900
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ICR Consilium (Media and IR) Mary-Jane Elliott / Jessica Hodgson / Sukaina Virji |
About Avacta Group plc - https://www.avacta.com
Avacta Group is a UK-based company focused on improving healthcare outcomes through targeted cancer treatments and diagnostics.
Avacta has two divisions: an oncology biotech division harnessing proprietary therapeutic platforms to develop novel, highly targeted cancer drugs, and a diagnostics division, which is executing on an M&A led growth strategy to create a full-spectrum diagnostics business focused on supporting healthcare professionals and broadening access to testing. Avacta's two proprietary platforms, Affimer® and pre|CISION™ underpin its cancer therapeutics whilst the diagnostics division leverages the Affimer® platform to drive competitive advantage in its markets.
The pre|CISION™ platform modifies chemotherapy to be activated only in the tumour tissue, reducing systemic exposure and toxicity. This is achieved by harnessing an enzyme called FAP which is highly upregulated in most solid tumours compared with healthy tissues, turning chemotherapy into a "precision medicine". The lead pre|CISION™ programme, AVA6000 a tumour activated form of doxorubicin, is in Phase 1 studies and has shown dramatic improvement in safety compared with standard doxorubicin, and early signs of clinical activity.
Affimer® is a novel biologic platform which has significant technical and commercial advantages compared with antibodies and is used both to develop advanced immunotherapies and to improve the performance of immunodiagnostics.
With a balanced business and capital allocation model: a high-value oncology pipeline supported by a revenue generating, fast-growing diagnostics business, Avacta seeks to create long-term shareholder value alongside patient benefit.
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