Liquidity agreement

01 Dec 2017 08:00 CET

Liquidity Agreement Monthly Update and Total Voting Rights

Paris, France and Cambridge, UK – 1 December 2017 - Novacyt (EURONEXT GROWTH: ALNOV; AIM: NCYT), an international specialist in clinical diagnostics, today announces its monthly update in relation to ordinary shares traded under its ongoing liquidity agreement with Invest Securities SA (the “Liquidity Agreement”). The Liquidity Agreement is governed by French law and is further summarised in the ‘notes for editors’ section below.

During the period from 1 November to 30 November 2017, Invest Securities purchased 8,003 ordinary shares at a maximum price of €0.69 and a minimum price of €0.63 and sold 9,503 ordinary shares at a maximum price of €0.75 and a minimum price of €0.65 under the Liquidity Agreement. The total number of ordinary shares in the Company which are held in treasury, as at close of business on 30 November 2017 are 92,703.

Total Voting Rights

The total number of ordinary shares in the Company remains 37,664,341. 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.

For further information, please contact:

Novacyt SA

Graham Mullis, Chief Executive Officer

Anthony Dyer, Chief Financial Officer

+44 (0)1223 395472

Stifel Nicolaus Europe Limited (Nominated Advisor and Joint Broker)

Jonathan Senior / Fred Walsh / Ben Maddison

+44 (0)20 7610 7600

WG Partners (Joint Broker)

Nigel Birks / Claes Spång

+44 (0) 203 705 9330

International

Brett Pollard / Victoria Foster Mitchell

FTI Consulting

+44 (0)20 3727 1000

brett.pollard@fticonsulting.com / victoria.fostermitchell@fticonsulting.com 

France

Arnaud de Cheffontaines / Astrid Villette

FTI Consulting

+33 (0)147 03 69 47 / +33 (0)147 03 69 51

arnaud.decheffontaines@fticonsulting.com / astrid.villette@fticonsulting.com

Notes for editors

About Novacyt Group

The Novacyt Group is a rapidly growing, international diagnostics group with a growing portfolio of cancer and infectious disease products and services. Through its proprietary technology platform, NOVAPrep®, and molecular platform, genesig®, Novacyt is able to provide an extensive range of oncology and infectious disease diagnostic products across an extensive international distributor network. The Group has diversified sales from diagnostic reagents used in oncology, microbiology, haematology and serology markets, and its global customers and partners include major corporates.

For more information please refer to the website: www.novacyt.com 

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 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).

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