Akers Biosciences, Inc. Issue of Equity (0634C)
January 16 2018 - 1:20PM
UK Regulatory
TIDMAKR
RNS Number : 0634C
Akers Biosciences, Inc.
16 January 2018
January 16, 2018
Akers Biosciences, Inc.
Issue of Equity
Akers Biosciences, Inc. (NASDAQ: AKER) (AIM: AKR.L), ("Akers
Bio" or the "Company"), a developer of rapid health information
technologies, announces that, pursuant to the Public Offering
announced on December 19, 2017, the Company has received a further
application for the conversion of 175 shares of Series B
Convertible Preferred Stock with a stated value of $1,000 per share
into 1,166,667 common shares of no par value.
This represents the final Series B Convertible Preferred Stock
conversion. The full 3,675 shares of Series B Convertible Preferred
Stock have been converted into an aggregate 24,500,003 (due to
rounding) common shares of no par value in the Company. There are
no further shares of Series B Convertible Preferred Stock in
issue.
The Company will apply for admission of the final 1,166,667
common shares to AIM and this is expected to take place on January
22, 2018 ("Admission"). Following Admission, the Company's issued
share capital will consist of 55,920,554 common shares with no
common shares held in treasury. Therefore, the above figure of
55,920,554 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.
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.
For more information:
Akers Biosciences, Inc.
John J. Gormally, Chief Executive Officer
Raymond F. Akers, Jr. PhD, Executive Chairman and Chief
Scientific Director
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 / Emma Lord
Tel. +44 (0)20 7830 9704
Email: akers@vigocomms.com
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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January 16, 2018 13:20 ET (18:20 GMT)
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