23 April
2024
Avacta Group
plc
("Avacta"
or the "Group" or the "Company")
Block Listing Application to
AIM
Avacta Group plc (AIM: AVCT), a life
sciences company developing innovative,
targeted oncology drugs and powerful diagnostics
announces application has been made to AIM for a
block listing of 6,613,808 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 - 113,808 Ordinary Shares
· The
LTIP/ESOS Scheme - 6,500,000 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 26 April 2024. 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 359,042,104 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:
|
Avacta Group plc
Alastair Smith, Chief Executive
Officer
Tony Gardiner, Chief Financial
Officer
Michael Vinegrad, Group
Communications Director
|
Tel: +44
(0) 1904 21 7070
www.avacta.com
|
|
Stifel Nicolaus Europe
Limited (Nomad and Joint Corporate Broker)
Nicholas Moore / Nick Adams / Samira
Essebiyea / Nick Harland / Ben Good
|
Tel: +44
(0) 207 710 7600
www.stifel.com
|
|
Peel Hunt (Joint Corporate
Broker)
James Steel / Chris Golden / Patrick
Birkholm
|
Tel: +44
(0) 207 418 8900
www.peelhunt.com
|
|
ICR Consilium (Media and
IR)
Mary-Jane Elliott / Jessica Hodgson
/ Sukaina Virji
|
avacta@consilium-comms.com
|
About Avacta Group plc - https://www.avacta.com
Avacta Group is a UK-based life
sciences company focused on improving healthcare outcomes through
targeted cancer treatments and diagnostics.
Avacta has two divisions focused on
therapeutics and diagnostics.
Avacta Therapeutics: a clinical
stage oncology biotech division harnessing proprietary therapeutic
platforms to develop novel, highly targeted cancer
drugs.
Avacta Diagnostics: focused on
supporting healthcare professionals and broadening access to
diagnostics.
Avacta has two proprietary
platforms, pre|CISION™ and Affimer®.
The pre|CISION™ platform is a highly
specific substrate for fibroblast activation protein (FAP) which is
upregulated in most solid tumours compared with healthy tissues.
The pre|CISION™ platform harnesses this tumour specific protease to
activate pre|CISION™ peptide drug conjugates and pre|CISION™
antibody/Affimer® drug conjugates in the tumour microenvironment,
reducing systemic exposure and toxicity, allowing dosing to be
optimised to deliver the best outcomes for patients.
The lead pre|CISION™ programme
AVA6000, a peptide drug conjugate form of doxorubicin, is in Phase
1 studies. It has shown a dramatic improvement in safety and
tolerability in clinical trials to date compared with standard
doxorubicin and preliminary signs of clinical activity in multiple
patients.
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