4 March 2016
AquaBounty Technologies, Inc.
("AquaBounty" or "the Company")
Issuance of Common Shares and Options
AquaBounty Technologies, Inc. (AIM: ABTU; OTC: AQBT), a biotechnology company focused on enhancing productivity in the aquaculture market and a majority-owned subsidiary of Intrexon Corporation (NYSE: XON), announces that, on 1 March 2016, it issued new common shares of 0.1 cents each ("Common Shares") and options to purchase new Common Shares to its independent directors in connection with their service agreements with the Company.
A total of 86,956 new Common Shares were issued to Richard Clothier, Chairman of the Board of Directors, at an effective price of 23.0 pence (32 cents) each, representing the closing price of the Company's Common Shares on AIM on 1 March 2016. Under the terms of his service agreement with the Company, Mr. Clothier receives 67% of his compensation in the form of cash payments and 33% in the form of Common Shares. The Common Shares issued to Mr. Clothier represent his stock compensation for services provided and to be provided for the year ending 31 December 2016. Trading in the new Common Shares, which will rank pari passu in all respects with the existing Common Shares, is expected to commence on 10 March 2016. Following this, Mr. Clothier will hold 1,109,943 Common Shares, representing 0.70% of the entire issued share capital of the Company.
Under the terms of their service agreements with the Company, the other independent directors each receive an annual grant of options over 75,000 new Common Shares. Directors receiving this option grant are Richard Huber, Christine St.Clare, and James Turk - resulting in the issuance of a total of 225,000 options. The options have a 10-year term, become vested in March 2017, and are exercisable at 32 cents per Common Share.
Following the admission of the new Common Shares to trading on AIM, the Company will have 157,512,265 Common Shares in issue.
For further information, please contact:
AquaBounty Technologies, Inc. +1 978 648 6048
David Frank, Chief Financial Officer
Stifel Nicolaus Europe Ltd +44 (0)20 7710 7600
Stewart Wallace
Luther Pendragon Ltd +44 (0)20 7618 9100
Harry Chathli, Claire Norbury
