OXFORD, UK - Oxford BioDynamics Plc (AIM: OBD), a biotechnology firm specializing in precision clinical diagnostics, announced the issuance of 2,742,657 new ordinary shares at a price of 1.1 pence each to directors, PDMRs, and select senior staff as part of their remuneration. The share issuance, which is part of the company's cash preservation strategy, was priced equal to the closing market price on Monday.
The newly issued shares, which are fully paid, will rank pari passu with the existing ordinary shares and are expected to be admitted to trading on the AIM market of the London Stock Exchange (LON:LSEG) around 31 December 2024. Following the admission, the company's issued share capital will consist of 319,319,226 ordinary shares with equal voting rights.
The allocation of shares to the directors and PDMRs resulted in changes to their respective shareholdings in the company. Dr. Alexandre Akoulitchev, Chief Scientific Officer, now holds 2.37% of the issued share capital; Paul Stockdale, Chief Financial Officer, holds 0.34%; Matthew Wakefield, Non-Executive Chairman, holds 0.51%; Dr. David Holbrook, Non-Executive Director, holds 0.05%; Thomas Guiel, Chief Operating Officer, holds 0.40%; and Dr. Ewan Hunter, Chief Data Officer, holds 0.23%.
Oxford BioDynamics' decision to issue shares in lieu of salary aligns with the announcement made on 14 October 2024, reflecting the company's ongoing strategy to manage its financial resources effectively. This information, based on a press release statement, is provided in accordance with Article 5(1)(b) of the Market Abuse Regulation, which is part of UK law.
Oxford BioDynamics focuses on the development and commercialization of precision clinical diagnostic tests for life-changing diseases, leveraging its proprietary EpiSwitch® 3D genomics platform. The company offers tests that enhance the accuracy of diagnosing conditions like prostate cancer and predicting responses to immuno-oncology treatments.
Shareholders may use the total number of ordinary shares in issue and voting rights as the denominator for calculations to determine if they are required to notify their interest in the company, in accordance with the FCA's Disclosure Guidance and Transparency Rules.
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