Business
AGM Result and Placing
AGM Result and Placing.
About this update from Avacta Group Plc
[{"type":"text","content":"\n RNS Number : 9142Z Avacta Group PLC 21 January 2011 \n \n\nAvacta Group plc (\"Avacta\" or \"the Company\")\n \nAGM result and Placing \nAvacta is pleased to announce that all resolutions proposed at its Annual General Meeting (\"AGM\") held at 2pm today, Friday 21 January 2011, were duly passed.\n \nFurther to the Company's announcement on 12 January 2011 of a placing of new ordinary shares of 0.1 pence each (\"New Ordinary Shares\") at a price of 1.05 pence per Ordinary Share (the \"Placing\") being conditional upon the passing of resolutions at the AGM giving directors authority to issue shares and disapply shareholder pre-emption rights, the Company can now proceed with the Placing. Application has been made for the New Ordinary Shares to be admitted to trading on the AIM market of London Stock Exchange plc and dealings are expected to commence on 24 January 2011. The New Ordinary Shares will rank pari passu with existing shares in issue. Following the Placing, Avacta's issued share capital will comprise 1,633,187,577 ordinary shares of par value 0.1 pence each with voting rights. No ordinary shares are held in treasury.\n \nThe above figure of 1,633,187,577 shares 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 FSA's Disclosure and Transparency Rules.\n21 January 2011\n \nFor further information, please contact: \n\n\n\n\nAvacta Group plc\n\n\nTel: 0844 414 0452\n\n\n\n\nAlastair Smith, Chief Executive Officer\nTim Sykes, Chief Financial Officer\n\n\nwww.avacta.com\n\n\n\n\nBroker\nXCAP Securities Plc\nJohn Grant/Karen Kelly/David Newton\nNominated Adviser\nGrant Thornton Corporate Finance\n\n\nTel: 020 7101 7070\nwww.xcapgroup.com\n \nTel: 020 7383 5100\nwww.grantthornton.co.uk\n\n\n\n\nPhilip Secrett/Colin Aaronson/David Hignell\n\n\n\n\n\n\n\n \nNotes to Editors:\nAbout Avacta\nAvacta was spun-out from the University of Leeds in 2004 by its current management team as a biophysics company, with the aim of combining the disciplines of physics and biology to develop innovative technologies and expert technical services to address unmet needs in the biopharmaceutical and healthcare sectors. Avacta has a co...