IP : Abingdon Health plc - PrimaryBid Offer

Abingdon Health plc (LON: ABDX) the AIM quoted international developer and manufacturer of high quality and effective rapid tests, is pleased to announce, a conditional offer for subscription via PrimaryBid (the "PrimaryBidOffer") of up to 2,000,000 new ordinary shares of 0.025p each in the Company (the "New Ordinary Shares") at an issue price of 25pence per New Ordinary Share (the "Issue Price"), being a discount of 34.2per cent to the closing mid-price on 30 November 2021, to raise gross proceeds of up to £0.5 million. The Company is also conducting a placing (the "Placing") of New Ordinary Shares at the Issue Price by way of an accelerated bookbuild process (the "Placing") and intends to launch an open offer (the "Open Offer") as announced earlier today. In addition to the Placing, one of the Company's shareholders intends to subscribe for New Ordinary Shares as announced earlier today (the "Subscription").

The PrimaryBid Offer, the Placing, the Subscription and the Open Offer are conditional on the approval of the Company's ordinary shareholders at a general meeting to be held at 10:30 a.m. on 20 December 2021 at the offices of Abingdon Health plc, York Biotech Campus, Sand Hutton, York, YO41 1LZ (the "General Meeting"). The PrimaryBid Offer, the Placing, the Subscription and the Open Offer are further conditional on the New Ordinary Shares to be issued pursuant to the PrimaryBid Offer, the Placing, the Subscription and the Open Offer being admitted to trading on AIM ("Admission"). Admission in connection with the New Ordinary Shares to be issued in connection with the PrimaryBid Offer is expected to be take place at 8.00 a.m. on 21 December 2021. Neither the PrimaryBid Offer, the Subscription nor the Open Offer will be completed without the Placing also being completed.

The Company will use the net proceeds in the first instance to cover, as previously notified, a working capital shortfall expected to arise in the first quarter of 2022 and for investment in product research and development initiatives to capitalise on growth opportunities in its markets.The net proceeds will be also used in product research and development initiatives to capitalise on growth opportunities in the area of infectious disease. These areas include Flu testing, Hepatitis C and Lyme disease.

PrimaryBidOffer

The Company values its retail investor base and is therefore pleased to provide private and other investors the opportunity to participate in the PrimaryBid Offer by applying exclusively through the PrimaryBid mobile app available on the Apple App Store and Google Play. PrimaryBid does not charge investors any commission for this service.

The PrimaryBid Offer, via the PrimaryBid mobile app, is open to individual and institutional investors and will close at the same time as the Placing. The PrimaryBid Offer may close early if it is oversubscribed.

The Company reserves the right to scale back any order at its discretion. The Company and PrimaryBid reserve the right to reject any application for subscription under the PrimaryBid Offer without giving any reason for such rejection.

No commission is charged to investors on applications to participate in the PrimaryBid Offer made through PrimaryBid. It is vital to note that once an application for New Ordinary Shares has been made and accepted via PrimaryBid, an application cannot be withdrawn.

For further information on PrimaryBid or the procedure for applications under the PrimaryBidOffer, visit www.PrimaryBid.comor email PrimaryBid at [e-mail].

The New Ordinary Shares will be issued free of all liens, charges and encumbrances and will, when issued and fully paid, rank pari passu in all respects with the Company's existing Ordinary Shares.

Abingdon Health plc Chris Yates, Chief Executive Officer Melanie Ross , Chief Financial Officer Chris Hand, Non-Executive Chairman	www.abingdonhealth.com/investors/ Via Walbrook PR
PrimaryBid Limited Fahim Chowdhury / James Deal	[e-mail]
Singer Capital Markets, Nominated Advisor Shaun Dobson, Peter Steel, Alex Bond (Corporate Finance), Tom Salvesen (Corporate Broking)	[phone]
Walbrook PR Limited Paul McManus	[phone] [e-mail]

Details of the PrimaryBidOffer

The Company highly values its retail investor base which has supported the Company alongside institutional investors over several years. Given the longstanding support of retail shareholders, the Company believes that it is appropriate to provide retail and other interested investors the opportunity to participate in the PrimaryBidOffer. The Company is therefore making the PrimaryBidOffer available exclusively through the PrimaryBid mobile app.

The PrimaryBidOffer is offered under the exemptions against the need for a prospectus allowed under the Prospectus Rules. As such, there is no need for publication of a prospectus pursuant to the Prospectus Rules, or for approval of the same by the Financial Conduct Authority in its capacity as the UK Listing Authority. The PrimaryBidOffer is not being made into any Restricted Jurisdiction or any other jurisdiction where it would be unlawful to do so.

There is a minimum subscription of £250 per investor under the terms of the PrimaryBidOffer which is open to existing shareholders and other investors subscribing via the PrimaryBid mobile app.

For further details please refer to the PrimaryBid website at www.PrimaryBid.com. The terms and conditions on which the PrimaryBidOffer is made, including the procedure for application and payment for New Ordinary Shares, is available to all persons who register with PrimaryBid.

Investors should make their own investigations into the merits of an investment in the Company. Nothing in this announcement amounts to a recommendation to invest in the Company or amounts to investment, taxation or legal advice.

It should be noted that a subscription for New Ordinary Shares and investment in the Company carries a number of risks. Investors should consider the risk factors set out on www.PrimaryBid.com before making a decision to subscribe for New Ordinary Shares. Investors should take independent advice from a person experienced in advising on investment in securities such as the New Ordinary Shares if they are in any doubt.