Akers Biosciences, Inc. Issue of Equity (7278H)
June 09 2017 - 11:51AM
UK Regulatory
TIDMAKR
RNS Number : 7278H
Akers Biosciences, Inc.
09 June 2017
June 9, 2017
This announcement contains inside information
Akers Biosciences, Inc.
Issue of Equity
Akers Biosciences, Inc. (NASDAQ: AKER) (AIM: AKR.L), (the
"Company" or "Akers Bio"), a developer of rapid health information
technologies, has received further conversion notices from warrant
holders to exercise warrants in the Company at an exercise price of
$1.50 granted pursuant to the January 2017 public offering.
Accordingly, the Company has received additional proceeds of $5,250
in respect of the exercise of 3,500 warrants which will convert
into common shares of no par value (the "Warrant Shares"). The
Company will apply for the 3,500 Warrant Shares to be admitted to
trading on AIM.
Separately, further to the announcement on 14 June 2016,
application will also be made for the outstanding 18,333 shares of
the Company's restricted common stock of no par value ("Restricted
Shares") to be admitted to trading on AIM. The Restricted Shares
were issued to John J. Gormally, the Company's Chief Executive
Officer, pursuant to the Company's 2013 Incentive Stock and Award
Plan (as amended).
In addition, application will also be made for 1,484 shares of
common stock of no par value ("Common Shares") to be admitted to
trading on AIM. The Common Shares have been issued to certain
professional advisers of the Company in lieu of fees owed to
them.
Following Admission of the Warrant Shares, Restricted Shares and
Common Shares, which is expected to take place on or around June
15, 2017, the Company's issued share capital will consist of
8,891,245 common shares with no common shares held in treasury.
Therefore, the above figure of 8,891,245 may be used by
shareholders as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or
a change to their interest in, the Company under the FCA's
Disclosure and Transparency Rules.
The Restricted Shares and the Common Shares were already
reflected in the total issued share capital figure announced in the
May 5, 2017 announcement regarding the issue of equity as these had
already been issued and allotted but application had not yet been
made for their admission to trading on AIM.
About Akers Biosciences, Inc.
Akers Bio develops, manufactures, and supplies rapid screening
and testing products designed to deliver quicker and more
cost-effective healthcare information to healthcare providers and
consumers. The Company has advanced the science of diagnostics
while responding to major shifts in healthcare through the
development of several proprietary platform technologies. The
Company's state-of-the-art rapid diagnostic assays can be performed
virtually anywhere in minutes when time is of the essence. The
Company has aligned with major healthcare companies and high volume
medical product distributors to maximize product offerings, and to
be a major worldwide competitor in diagnostics.
Additional information on the Company and its products can be
found at www.akersbio.com. Follow us on Twitter @AkersBio.
Cautionary Statement Regarding Forward Looking Statements
Statements contained herein that are not based upon current or
historical fact are forward-looking in nature and constitute
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. Such forward-looking statements reflect the Company's
expectations about its future operating results, performance and
opportunities that involve substantial risks and uncertainties.
These statements include but are not limited to statements
regarding the intended terms of the offering, closing of the
offering and use of any proceeds from the offering. When used
herein, the words "anticipate," "believe," "estimate," "upcoming,"
"plan," "target", "intend" and "expect" and similar expressions, as
they relate to Akers Biosciences, Inc., its subsidiaries, or its
management, are intended to identify such forward-looking
statements. These forward-looking statements are based on
information currently available to the Company and are subject to a
number of risks, uncertainties, and other factors that could cause
the Company's actual results, performance, prospects, and
opportunities to differ materially from those expressed in, or
implied by, these forward-looking statements.
The information communicated in this announcement is inside
information for the purposes of Article 7 of Regulation
596/2014.
For more information:
Akers Biosciences, Inc.
John J. Gormally, Chief Executive Officer
Raymond F. Akers, Jr. PhD, Vice Chairman
Tel. +1 856 848 8698
finnCap (UK Nominated Adviser and Broker)
Adrian Hargrave / Scott Mathieson (Corporate Finance)
Steve Norcross (Broking)
Tel. +44 (0)20 7220 0500
Vigo Communications (Global Public Relations)
Ben Simons / Fiona Henson
Tel. +44 (0)20 7830 9704
Email: akers@vigocomms.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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