ABC Abcam Plc

TIDMABC

RNS Number : 6612I

ABCAM Plc

27 March 2015

 
 For immediate release   27 March 2015 
 

ABCAM PLC

("Abcam" or "the Company")

Director's dealings

Cambridge, UK: Abcam plc (AIM: ABC), a global leader in the supply of protein research tools, was notified on 26 March 2015 that on that date Dr Jonathan Milner, a Director of the Company, carried out the following transactions in Abcam's shares, following the placing announced on 26 March 2015, the results of which were announced today:

-- A transfer of 1,500,000 Ordinary Shares of 0.2 pence each in the Company ("Ordinary Shares") for nil consideration from his name to a charitable trust of which he is a trustee

-- A sale of 2,150,000 Ordinary Shares from the charitable trust at a price of 465 pence per Ordinary Share, raising gross proceeds of approximately GBP10.0m

-- A sale of 2,480,000 Ordinary Shares under his own name and certain other trusts of which he is a trustee at a price of 465 pence per Ordinary Share, raising in aggregate gross proceeds of approximately GBP11.5m.

The proceeds of sale from the charitable trust will be used to fund the creation of an institute for therapeutic innovation at the University of Cambridge and an institute for evolutionary studies at the University of Bath. These donations will form a substantial portion of the funding for each of these endeavours.

The sale of shares from Dr Milner's beneficial ownership will be used for tax and estate planning purposes. Dr Milner has confirmed that he remains fully committed to the Company as an active member of the Abcam Board in his role as Deputy Chairman and he remains the largest Abcam shareholder following the placing. His remaining beneficial and non-beneficial interests are subject to a 12 month lock-up, subject to customary exceptions.

Following this transaction, Dr Milner's total interest in the Company has decreased by 4,630,000 Ordinary Shares and is now 23,303,266 Ordinary Shares of 0.2p each, representing approximately 11.6% of the Company's issued share capital. This total interest is constituted as follows:

Beneficial Interest (including that of Dr Milner's direct family): 23,274,966

Non-Beneficial Interest: 28,300

Following these transactions, Dr Milner said,

"I am proud to support the strategy and management team of Abcam as the largest shareholder in the Company and I am delighted to be able to make these donations to two outstanding universities in order to both enable the research and development of new therapeutics in cancer treatment and power the discovery and understanding of cutting edge biology."

For further information please contact:

 
                                                     + 44 (0) 1223 
Abcam                                                      696 000 
Jeff Iliffe, Chief Financial Officer 
 Laura Taylor, Investor Relations Manager 
 
J.P.Morgan Cazenove - Nominated Adviser & Joint   + 44 (0) 20 7742 
 Corporate Broker                                             4000 
James Mitford / Charles Pretzlik - Nominated 
 Adviser 
 
                                                  + 44 (0) 20 7418 
Peel Hunt LLP - Joint Corporate Broker                        8900 
Clare Terlouw / Al Rae - Corporate Broking 
 
                                                   +44 (0) 20 7404 
Brunswick                                                     5959 
Sarah West / Will Medvei / Katarina Sallerfors 
 

Notes to Editors

About Abcam

Abcam plc is a global leader in the supply of life science research tools, with a wide range of products and expert technical support, enabling scientists to analyse living cells at the molecular level and improving the understanding of health and disease.

Abcam is committed to providing scientists with an extensive choice of reagents and tools, with the most comprehensive, honest and up-to-date datasheets and customer reviews, fast delivery and helpful customer service & technical support. The Company's catalogue evolves with scientific research trends and is growing each year to provide customers with products to meet their research needs. The range now includes primary and secondary antibodies, proteins, peptides, lysates, biochemicals, immunoassays and other kits. Abcam also supports its customers by hosting a range of global scientific events, forums and webinars, providing opportunities for scientists to get together and present their work.

Headquartered in Cambridge, UK, Abcam has nine global subsidiary offices enabling local services and multi-language support and sells to over 100 countries. The Company was founded in 1998, and now employs over 800 people. Abcam was admitted to AIM in 2005 (AIM: ABC).

To find out more, please visit www.abcam.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

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