TIDMAKR
RNS Number : 7245B
Akers Biosciences, Inc.
09 January 2015
Embargoed: 0700hrs 9 January 2015
Akers Biosciences, Inc.
Incentive Stock and Award Plan
& Directors' Shareholdings
Akers Biosciences, Inc. (NASDAQ: AKER) (AIM: AKR.L), (the
"Company"), a leading designer and manufacturer of rapid diagnostic
screening and testing products, announces that on January 9, 2015,
the board of directors approved an amended and restated 2013
Incentive Stock and Award Plan (the "Plan"), whereby the number of
shares available for issuance pursuant to the Plan increased by
400,000 shares of the Company's common stock.
The Plan is intended to attract and retain certain directors,
officers, consultants or other persons whose services are
considered valuable to the Company. It is intended that, pursuant
to the Plan, Stock Options or Restricted Stock (as defined in the
Plan) may in the future be awarded to qualifying individuals with
the conditions set by the Company's Compensation Committee.
Full details of the Plan are set out in the Form 8-K which is
available on the Company's website www.akersbiosciences.com or at
www.sec.gov.
Pursuant to the Plan, on January 9, 2015, the Company allocated
for issuance an aggregate of 190,000 shares of the Company's
restricted common stock, of no par value per share ("Restricted
Stock"), to be issued to certain officers and directors (the
"Grantees") for services rendered and to be rendered to the
Company. Following issuance of the Restricted Stock the Grantees
shall have the rights of a stockholder subject to the
non-transferability and forfeiture restrictions of those certain
lock up agreements (the "Lock Up Agreements") detailed in the Form
8-K available on the Company's website. Among other restrictions,
the Grantees' Restricted Stock may not be transferred until January
1, 2017 and are subject to recoupment by the Company in full should
the Grantee be terminated for cause or no longer be in service to
the Company on January 1, 2017.
As a result of the allocation of Restricted Stock, the Company
sets out below the changes in the directors' interests in the
Company:
Director Number of Number of Number Percentage
Common Shares shares held of of total
held prior after the Stock outstanding
to the allocation allocation Options shares (excluding
of Restricted of Restricted held unexercised
Stock Stock Stock Options)
Thomas J.
Knox 358,150 408,150 20,000 8.14 %
Brandon
Knox 48,076 83,076 20,000 1.66 %
Raymond
F. Akers
Jr.* - 70,000 40,000 1.40 %
Gavin Moran - 35,000 20,000 0.70 %
*On January 9, 2015, Raymond F. Akers Jr. gifted his 70,000
shares (the "Trust Shares") of Restricted Stock to the Akers Family
Trust. Following this gift, Raymond F. Akers, Jr. does not directly
own any shares of the Company, but has a beneficial interest under
the AIM Rules of the 70,000 shares disclosed above by virtue of his
wife being a trustee of the Akers Family Trust. The Trust Shares
are subject to a lock up agreement whereby such shares cannot be
sold prior to January 1, 2020.
Following the allocation of Restricted Stock, there will be
5,203,352 Common Shares in issue. This number 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.
ABOUT AKERS BIOSCIENCES, INC.
Akers Biosciences develops, manufactures, and supplies rapid,
point of care screening and testing products designed to bring
healthcare information both rapidly and directly to the consumer or
healthcare provider. 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 products 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 on our website at www.akersbiosciences.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.
For more information:
Akers Biosciences, Inc.
Raymond F. Akers, Jr. PhD
Executive Chairman of the Board
Tel. +1 856 848 8698
RedChip Companies, Inc. (US Investor Relations)
Jon Cunningham
Tel. +1 407 644 4256 x107
finnCap (UK Nominated Adviser and Broker)
Geoff Nash / Scott Mathieson (Corporate Finance)
Steve Norcross (Broking)
Tel: +44 (0)20 7220 0500
Vigo Communications (UK Investor Relations)
Ben Simons / Alexandra Roper
Tel. +44 (0)20 7016 9570
Email. akers@vigocomms.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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