LONDON and PHILADELPHIA - Avacta Group plc (AIM:AVCT) announced today an application for a block listing of 5,500,000 ordinary shares of 10 pence each on AIM, according to a press release statement.
The block listing will facilitate the admission of shares to trading following the exercise of options granted under the Group’s LTIP/ESOS Scheme. The ordinary shares will be issued pursuant to the company’s existing plans, including outstanding options already issued but not yet exercised to employees.
New ordinary shares issued following option exercises and admitted to trading under the block admission will rank pari passu in all respects with existing ordinary shares.
The block listing is expected to become effective on Tuesday. The company stated it will continue to make six-monthly announcements of the utilization of the block admission in line with its obligations under AIM Rule 29.
At the time of the announcement, Avacta has 457,892,574 ordinary shares in issue. This figure may be used by shareholders as the denominator for calculations to determine if they are required to notify their interest in the share capital of the company under the FCA’s Disclosure Guidance and Transparency Rules.
Avacta is a clinical stage biopharmaceutical company developing pre|CISION, a tumor-activated oncology delivery platform.
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