LONDON: Abcam Plc, a global innovator in life science reagents and tools, announced the acquisition of the entire issued share capital of Marker Gene Technologies (MGT). Financial terms of the acquisition have not been disclosed and are expected to have a minimal impact on revenue and earnings in the current financial year.

Following the recent acquisition of Expedeon’s proteomics and immunology business, and aligned with broader antibody-conjugation strategy, the acquisition of MGT brings additional proprietary assay development technologies and labelling capabilities to Abcam.

MGT’s team have expertise in the areas of biology, organic synthesis and fluorescence chemistry and are experienced in the creation of detection tools that enable enhanced understanding of biological processes.

A substantial portion of the consideration for the Acquisition will be funded from newly issued Abcam shares. An application has been made to AIM for the admission to trading of 49,416 new ordinary shares of 0.2p each in the company. The New Ordinary Shares are expected to be admitted to trading on or around 9 March 2020 and will, when issued, rank pari passu with the Company’s existing ordinary shares.

As at 4 March 2020, the Company’s issued share capital consists of 206,082,681 ordinary shares of 0.2p each. The Company does not hold any shares in treasury. The total number of voting rights in the Company is therefore 206,082,681.

The above figure of 206,082,681 should 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 Disclosure and Transparency Rules.

Following admission of the New Ordinary Shares on or around 9 March 2020, the Company’s issued and fully paid share capital will consist of 206,132,097 ordinary shares of 0.2p each.