REG - Fusion Antibodies - Result of GM and total voting rights

Fusion AntibodiesAnnouncement

08/06/2023 10:45

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RNS Number : 1209C  Fusion Antibodies PLC  08 June 2023

8 June 2023

 

Fusion Antibodies plc

("Fusion" or the "Company")

 

Result of General Meeting

and

Total Voting Rights

 

Fusion Antibodies plc (AIM: FAB), specialists in pre-clinical antibody
discovery, engineering and supply for both therapeutic drug and diagnostic
applications, announces that at the general meeting of the Company, held
earlier today, all resolutions were duly passed.

 

Following the passing of the resolutions, the Company has raised a total of
£1,671,938.40 pursuant to the Fundraise, details of which were announced on
19 May 2023 and 23 May 2023. Application has been made for the admission of
the 25,830,252 Second Tranche Placing Shares, the 2,740,000 Subscription
Shares and the 2,267,022 Retail Offer Shares to trading on AIM ("Second
Admission") and Second Admission is expected to occur on 12 June 2023.

 

Directors' holdings

 

Details of the interests of the Directors who participated in the Fundraise
and their resultant holdings of Ordinary Shares following Second Admission are
as follows:

 

 Director/PDMR/PCA       Existing beneficial shareholding  Subscription Shares subscribed for  Beneficial shareholding on Second Admission  Percentage of   enlarged issued share capital
 Simon Douglas           255,800                           200,000(1)                          455,800                                      0.77%
 Adrian Kinkaid          4,000                             140,000                             144,000                                      0.24%
 Sonya Ferguson          102,567                           400,000                             502,567                                      0.85%
 Colin Walsh(2)          -                                 600,000(3)                          600,000                                      1.01%
 Hamniv (GP) Limited(4)  -                                 1,400,000                           1,400,000                                    2.35%

 

(1) Subscription Shares applied for by relatives of Simon Douglas

(2) Colin Walsh is the Chief Executive and founder of Crescent Capital NI
Limited ("Crescent Capital"), which is the fund manager for Crescent Capital
III LP which holds 613,382 Ordinary Shares.

(3) Subscription shares applied for by Walsh Strategic Management Limited, a
company controlled by Colin Walsh

(4) Hamniv (GP) Limited is a subsidiary of Crescent Capital.

 

Total voting rights

 

Following Second Admission, the number of Ordinary Shares in issue and number
of voting rights will be 59,453,714. The above figure may be used by
shareholders as the denominator for the calculations by which they will
determine whether they are required to notify their interest in, or a change
to their interest in, the Company under the Financial Conduct Authority's
Disclosure Guidance and Transparency Rules.

 

Terms used but not defined in this announcement have the same meaning as set
out in the Company's announcement released at 10:00 on 19 May 2023.

 

Enquiries:

 

 Fusion Antibodies plc                                               www.fusionantibodies.com
 Adrian Kinkaid, Chief Executive Officer                             Via Walbrook PR

 Allenby Capital Limited                                             Tel: +44 (0)20 3328 5656
 James Reeve/Vivek Bhardwaj (Corporate Finance)

 Tony Quirke/Joscelin Pinnington (Sales and Corporate Broking)

 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 $135.4
billion in 2018 and is forecast to surpass $212.6 billion in 2022, an increase
at a CAGR of 12.0 per cent. for the period 2018 to 2022. In 2017, seven of the
world's ten top selling drugs were antibody-based therapeutics with the
combined annual sales of these drugs exceeding $63.2 billion.

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