Issue of shares to non-executive directors
16 October 2024
Fusion Antibodies plc (AIM: FAB), specialists in pre-clinical antibody
discovery, engineering and supply for both therapeutic drug and
diagnostic applications, announces the issue of new ordinary shares of
4p each in the capital of the Company (“Ordinary Shares”) to
certain non-executive directors of the Company in satisfaction of part
of their salary and fees for the six-month period ended 30 September
2024.
As disclosed in the Company's annual report and accounts for the year
ended 31 March 2024 (as announced on 5 September 2024), the Company's
non-executive directors agreed to receive part of their salary in new
Ordinary Shares until the end of the current financial year ending 31
March 2025 (“FY25”), in order to assist the Company as it
continues to carefully control its cash flows.
In total, 587,348 new Ordinary Shares have been issued (the “Director Shares”) at a deemed issue price of 4.15p per Ordinary Share, being the closing mid-market price of an Ordinary Share on the date of grant, as follows:
| Director | Amount of salary/fees received in Director Shares | No. of Director Shares | Total holding of Ordinary Shares post issue | Percentage of enlarged share capital |
| Simon Douglas | £7,500 | 180,722 | 999,5871 | 1.04% |
| Colin Walsh2 | £13,500 | 325,301 | 2,887,8013 | 3.01% |
| Matthew Baker | £3,375 | 81,325 | 237,575 | 0.25% |
1 Excludes Ordinary Shares held by relatives of Simon Douglas.
2 Held by Walsh Strategic Management Limited, a company controlled by Colin Walsh
3 Includes 600,000 Ordinary Shares already held by Walsh Strategic Management Limited, a company controlled by Colin Walsh and 1,400,000 Ordinary Shares held by Hamniv (GP) Limited, a subsidiary of Crescent Capital NI Limited (“Crescent Capital”). Colin Walsh is the Chief Executive and founder of Crescent Capital.
Admission to trading on AIM
Application has been made to the London Stock Exchange plc for the
Director Shares to be admitted to trading on AIM (“Admission”).
It is anticipated that Admission will become effective and that dealings
in the Director Shares will commence on AIM at 8.00 a.m. on or around 22
October 2024.
Total voting rights
On Admission, the Company will have 95,952,912 Ordinary Shares in issue, each with one voting right. There are no shares held in treasury. Therefore, the Company’s total number of Ordinary Shares in issue and voting rights will be 95,952,912 and this figure may be used by Shareholders from Admission 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 Guidance and Transparency Rules.
Enquiries:
| Fusion Antibodies plc | www.fusionantibodies.com | |
| Adrian Kinkaid, Chief Executive
Officer Stephen Smyth, Chief Financial Officer |
Via Walbrook PR | |
| Fusion Antibodies interactive investor hub | https://investorhub.fusionantibodies.com/ |
|
| Allenby Capital Limited | Tel: +44 (0) 20 3328 5656 | |
| James Reeve/Vivek Bhardwaj (Corporate
Finance) Tony Quirke/Joscelin Pinnington (Sales and Corporate Broking) |
||
| Shard Capital Partners LLP | ||
| Damon Heath (Joint Broker) | Tel: +44 (0) 207 186 9952 | |
| Walbrook PR | Tel: +44 (0)20 7933 8780 or fusion@walbrookpr.com | |
| Anna Dunphy | Mob: +44 (0)7876 741 001 | |
About Fusion Antibodies plc
Fusion is a Belfast based contract research organisation ("CRO")
providing a range of antibody engineering services for the development
of antibodies for both therapeutic drug and diagnostic applications.
The Company's ordinary shares were admitted to trading on AIM on 18
December 2017. Fusion provides a broad range of services in antibody
generation, development, production, characterisation and optimisation.
These services include antigen expression, antibody production,
purification and sequencing, antibody humanisation using Fusion's
proprietary CDRx TM platform and the
production of antibody generating stable cell lines to provide material
for use in clinical trials. Since 2012, the Company has
successfully sequenced and expressed over 250 antibodies and
successfully completed over 200 humanisation projects and has an
international, blue-chip client base, which has included eight of the
top 10 global pharmaceutical companies by revenue.
The Company was established in 2001 as a spin out from Queen's University
Belfast. The Company's mission is to enable pharmaceutical and
diagnostic companies to develop innovative products in a timely and
cost-effective manner for the benefit of the global healthcare industry.
Fusion Antibodies provides a broad range of services in antibody
generation, development, production, characterisation and
optimisation.
Fusion Antibodies growth strategy is based on combining the latest
technological advances with cutting edge science to deliver new
platforms that will enable Pharma and Biotech companies get to the
clinic faster, with the optimal drug candidate and ultimately speed up
the drug development process.
The global monoclonal antibody therapeutics market was valued at $186 billion in 2021 and is forecast to surpass $445 billion in 2028, an increase at a CAGR of 13.2 per cent. for the period 2022 to 2028. Approximately 150 monoclonal antibody therapies are approved and marketed globally as of June 2022 with the top four antibody drugs each having sales of more than $3 bn in 2021.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them.
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name |
|
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| 2 | Reason for the notification | |||||
| a) | Position/status |
|
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| b) | Initial notification /Amendment | Initial notification | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Fusion Antibodies plc | ||||
| b) | LEI | 213800KBAYRC9VOQ9V39 | ||||
| 4 |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
| a) |
Description of the financial instrument, type of
instrument Identification code |
Ordinary shares of 4p each (“Ordinary Shares”) in Fusion
Antibodies plc Identification code (ISIN) for Fusion Antibodies plc ordinary shares: GB00BDQZGK16 |
||||
| b) | Nature of the transaction | Issue of Ordinary Shares in lieu of salary | ||||
| c) | Price(s) and volume(s) |
|
||||
| d) | Aggregated information: - Aggregated volume - Price |
N/A | ||||
| e) | Date of the transaction | 15 October 2024 | ||||
| f) | Place of the transaction | Outside of a trading venue | ||||
