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.