Avingtrans plc (LON:AVG) has announced that, further to its announcement on 13 July 2023 and following approval under the UK National Security & Investment Act,
it has completed the acquisition of the remaining issued and to be issued share capital of Adaptix Ltd, the emerging MedTech business based in Oxford, for a total consideration of up to £2.7m to be satisfied by the issue of 642,355 ordinary shares of 5p each in the Company at 426 pence per Ordinary Share.
Avingtrans has been supporting Adaptix over the past few months through a loan facility from the Company of £1.1m and has agreed to adopt debt facilities of £2.1m. In addition to repaying a renegotiated sum to various debt and creditors of £2.2m on behalf of Adaptix.
Issue of Equity
Application has been made for the admission to trading on AIM for the 642,355 new Ordinary Shares. It is expected that Admission will become effective on 21 September 2023.
Total Voting Rights
Following the issue of the 642,355 Consideration Shares, the Company will have a total of 32,892,800 Ordinary Shares in issue. The Company does not hold any shares in Treasury.
The above figure 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 FCA’s Disclosure Guidance and Transparency Rules.
The above information is provided by Avingtrans in accordance with its obligations under the FCA’s Disclosure Guidance and Transparency Rules.
