Novacyt : Exercise of Warrants and Issue of Equity

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Novacyt S.A. - NCYT Exercise of Warrants and Issue of Equity Released 07:00 18-Feb-2020

RNS Number : 2731D

Novacyt S.A.

18 February 2020

Novacyt S.A.

('Novacyt', the 'Company' or the 'Group')

Exercise of Warrants and Issue of Equity

Paris, France and Camberley, UK - 18 February 2020 - Novacyt (EURONEXT GROWTH: ALNOV; AIM: NCYT), an international specialist in clinical diagnostics, announces that it has received notice from YA II CD, Ltd of an exercise of warrants to subscribe for 228,541 new ordinary shares of €1/15 each in the capital of the Company ('Ordinary Shares') at a price of €0.946 per share for a total subscription of €216,199.79.

Application will be made for 228,541 new Ordinary Shares to be admitted to trading on AIM ('Admission') and it is expected that Admission will become effective at 8.00 a.m. on or around 21 February 2020. Admission of the new Ordinary Shares to trading on Euronext is expected to occur on or before 21 February 2020.

Total Voting Rights

Following Admission, the total number of shares in the Company is 60,002,839. This figure may be used by shareholders as the denominator for calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company pursuant to Article L. 223-7 of the French Commercial Code and the Company's Articles. The Company is not subject to the disclosure guidance and transparency rules made by the Financial Conduct Authority under Part VI of FSMA.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

For further information, please refer towww.novacyt.com or contact:

Novacyt SA

Graham Mullis, Chief Executive Officer

Anthony Dyer, Chief Financial Officer

[phone]

SP Angel Corporate Finance LLP(Nominated Adviser and Broker)

Matthew Johnson / Charlie Bouverat (Corporate Finance)

Vadim Alexandre / Rob Rees (Corporate Broking)

[phone]

FTI Consulting (International)

Victoria Foster Mitchell / Mary Whittow

[phone]

[e-mail]/[e-mail]

FTI Consulting (France)

Arnaud de Cheffontaines / Astrid Villette

[phone] / [phone]

[e-mail]/[e-mail]

About Novacyt Group

The Novacyt Group is an international diagnostics business generating an increasing portfolio of in vitroand molecular diagnostic tests. Its core strengths lie in diagnostics product development, commercialisation, contract design and manufacturing. The Company's lead business units comprise of Primerdesign and Lab21 Products, supplying an extensive range of high quality assays and reagents worldwide. The Group directly serves oncology, microbiology, haematology and serology markets as do its global partners, which include major corporates.

Further information on the Liquidity Agreement

On 12 September 2016, the Company and Invest Securities entered into the Liquidity Agreement pursuant to which Invest Securities provides liquidity services in relation to the ordinary shares to the Company. Invest Securities may purchase ordinary shares on behalf of the Company under the agreement, subject to approval from Shareholders as to the price at which ordinary shares can be brought back and the aggregate amount that the Company may provide to Invest Securities to purchase such ordinary shares.

Shareholder approval was granted at the Shareholders' meeting held on 27 June 2017 for the purchase of ordinary shares by Invest Securities under the agreement at a maximum purchase price per ordinary shares of €8.10 for an aggregate maximum purchase price of €100,000 and for 18 months from the date of the approval. Under the agreement, Invest Securities must act completely independently of the Company and the Company must not communicate with the employees of Invest Securities who are responsible for performing the agreement. Invest Securities is paid €10,000 per annum for its services under the liquidity agreement. The agreement has an initial term of two years, with a rolling extension of one year thereafter. The agreement can be terminated by either party at the end of each such period subject to two months' prior notice. The Liquidity Agreement is governed by French law. Ordinary shares purchased by Invest Securities are either cancelled or held as treasury shares (which are non-voting and do not rank for dividends).

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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Exercise of Warrants and Issue of Equity - RNS