12th Apr 2005 17:49
Akers Biosciences, Inc.12 April 2005 Akers Biosciences, Inc. Issue of Shares 12 April 2005 Akers Biosciences, Inc. ("the Company") today announces it has issued shares toPlatinum Partners Value Arbitrage Fund, L.P. ("Platinum"). The currenttransaction results from an agreement the Company entered into with Platinum on14 March 2005. The funds referred to below represent the conversion of $36,009of principle of the note. The funds raised as a result of this transaction arebeing used by the Company to exploit their current commercial opportunities. The transaction provides $36,009 of permanent equity through the issue of 40,000shares of common stock ("Common Shares"), at no par value, at $.90 (£0.48 pershare). For the purpose of this announcement, the exchange rate used is £1:$1.88. Application has been made to the London Stock Exchange for the 40,000 CommonShares to be admitted to trading, such admission expected to take place on 15April 2005. Contact Paul B. Freedman - 001 856 848 2116. END This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
AKR.L