Abcam recognized by Stonewall for commitment to LGBTQ+ inclusivity

Cambridge, UK – July 16, 2024 – Abcam, a global life science company working together with researchers to advance science and enable faster breakthroughs, today announced it has achieved a Silver Award in Stonewall’s 2024 Workplace Equality Index. The award recognizes Abcam’s commitment to fostering an inclusive and diverse workplace where all LGBTQ+ employees can thrive.

Over the past year, Abcam has launched new initiatives to further embed LGBTQ+ inclusion across its global sites. Abcam’s LGBTQ+ Employee Resource Group (ERG) has played a key role, acting as a voice for Abcam’s LGBTQ+ community, influencing policy, and driving positivity, education and awareness.

Abcam boasts an active network of ERGs who champion inclusion across multiple characteristics. ERG leaders are given external training to give them the tools they need to consolidate their roles as influencers of culture within the Company. The Company has been a Global Diversity Champion with Stonewall since 2022, having partnered with the organisation to ensure best practices for inclusion are embedded across all sites.

Stonewall’s Workplace Equality Index is the UK’s leading benchmarking tool for LGBTQ+ inclusion in the workplace. The index is designed to help employers evaluate the effectiveness of their inclusion work, as well as helping them to continue to learn and evolve. Employers are assessed against criteria spanning nine broad categories including policies and benefits, employee lifecycle, leadership, service delivery and supply chains.

Abcam’s Silver Award showcases the Company’s progress in building an inclusive workplace that encourages all employees to bring their authentic selves to work. Abcam was ranked 117 out of 246 organizations that entered this year, its highest ranking to date.

Miguela Gonzalez, Head of D&I at Abcam (she/her) and Dalton Plummer, Global Co-Lead of Abcam’s LGBTQ+ ERG (he/him/they/them) shared their excitement:

Driving true inclusion across everything that we do at Abcam is fundamental to supporting all our colleagues to excel and reach their full potential. Receiving the Silver Award in Stonewall’s Workplace Equality Index is a fantastic recognition of our robust work and rapid progress in LGBTQ+ diversity and inclusion, so early in our inclusion journey. The feedback from Stonewall will be invaluable as we continue to elevate our support for the LGBTQ+ community at Abcam.”

Colin Macfarlane, Director of Programmes and Income at Stonewall (he/him) said:Implementing inclusive practices and policies is vital for employers who wish to attract and retain top LGBTQ+ talent. The Workplace Equality Index draws participants from diverse industries and sectors, all of whom understand that inclusivity is the future and are leading the way in this vital change. By championing LGBTQ+ employees, you are fostering a happy and motivated workforce and contributing to a UK where LGBTQ+ people can thrive as their true selves.

—ENDS—

About Abcam

At Abcam, we believe that the scientific community goes further, faster, when we go there together. And to keep on making ground-breaking discoveries, we need to work together in new ways. That’s why we’re constantly innovating to help scientists drive their research forward by providing products and solutions that play an essential role in fundamental research, drug discovery, diagnostic and therapeutic applications.

We started with a simple mission: to provide the best biological reagents to life scientists worldwide. Today, we help 750,000 researchers in over 130 countries deliver faster breakthroughs in areas like cancer, neurological disorders, infectious diseases, and metabolic disorders.

To find out more, visit us at www.abcam.com and corporate.abcam.com.

For media queries, contact:
Alex Bannister
external.comms@abcam.com

 

Acquisition of Abcam by Danaher Approved by the High Court of Justice of England and Wales

Cambridge, UK / Waltham, MA, December 4, 2023 – Abcam plc (Nasdaq: ABCM) (‘Abcam’, the ‘Group’ or the ‘Company’), a global leader in the supply of life science research tools, entered into a definitive agreement on August 26, 2023 relating to its proposed acquisition by Danaher Corporation (NYSE: DHR) (‘Danaher’) for $24.00 per share in cash (the ‘Transaction’), to be implemented by way of a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006 (the ‘Scheme‘). The circular in relation to the Scheme was published or made available to Scheme Shareholders on October 5, 2023 (the ‘Scheme Circular‘). 

Abcam is pleased to announce that the Court has today issued the Court Order sanctioning the Scheme.

Closing of the Transaction will occur and the Scheme will become effective upon the Court Order being delivered to the Registrar of Companies, which is expected to occur on December 6, 2023, as previously announced. The last day of trading in Abcam ADSs on Nasdaq is expected to be December 5, 2023, with trading in Abcam ADSs on Nasdaq being suspended by 8.00 a.m. (Eastern Time) on December 6, 2023.

Capitalized terms used in this announcement shall, unless otherwise defined, have the same meanings as set out in the Scheme Circular.

About Abcam plc

As an innovator in reagents and tools, Abcam’s purpose is to serve life science researchers globally to achieve their mission faster. Providing the research and clinical communities with tools and scientific support, the Company offers highly validated antibodies, assays and other research tools to address important targets in critical biological pathways.

Already a pioneer in data sharing and ecommerce in the life sciences, Abcam’s ambition is to be the most influential company in life sciences by helping advance global understanding of biology and causes of disease, which, in turn, will drive new treatments and improved health.

Abcam’s worldwide customer base of approximately 750,000 life science researchers uses Abcam’s antibodies, reagents, biomarkers and assays. By actively listening to and collaborating with these researchers, the Company continuously advances its portfolio to address their needs. A transparent program of customer reviews and datasheets, combined with industry-leading validation initiatives, gives researchers increased confidence in their results.

Founded in 1998 and headquartered in Cambridge, U.K., the Company has served customers in more than 130 countries. Abcam’s American Depositary Shares (ADSs) trade on the Nasdaq Global Select Market (Nasdaq: ABCM).

For more information, please visit www.abcam.com or www.abcamplc.com.

Important Notices

U.K. Takeover Code does not apply

Abcam is not a company subject to regulation under the City Code on Takeovers and Mergers (the ‘U.K. Takeover Code’), therefore no dealing disclosures are required to be made under Rule 8 of the U.K. Takeover Code by shareholders of Abcam or Danaher.

Forward-Looking Statements

This announcement contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by the following words: “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “seek,” “believe,” “estimate,” “predict,” “potential,” “continue,” “contemplate,” “possible” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. They are not historical facts, nor are they guarantees of future performance. Any express or implied statements contained in this announcement that are not statements of historical fact may be deemed to be forward-looking statements, including, without limitation, statements regarding the implementation and benefits of the proposed sale to Danaher and the closing of the Transaction. These forward-looking statements are neither promises nor guarantees, but involve known and unknown risks and uncertainties that could cause actual results to differ materially from those projected, including, without limitation: Danaher’s and Abcam’s ability to complete the Transaction on the proposed terms or on the anticipated timeline, or at all, including the satisfaction of the  conditions to consummate the Transaction; the occurrence of any event, change or circumstance that may impact delivery of the Court Order to the Registrar of Companies and the expected last day of trading and suspension of trading in Abcam ADSs on Nasdaq; the occurrence of any event, change or other circumstance that could give rise to the termination of the definitive transaction agreement relating to the Transaction; risks related to diverting the attention of Danaher’s and Abcam’s management from ongoing business operations; failure to realize the expected benefits of the Transaction; significant Transaction costs and/or unknown or inestimable liabilities; the risk of shareholder litigation in connection with the Transaction, including resulting expense or delay; the risk that Abcam’s business will not be integrated successfully or that such integration may be more difficult, time-consuming or costly than expected; Danaher’s ability to fund the cash consideration for the Transaction; risks related to future opportunities and plans for the combined company, including the uncertainty of expected future regulatory filings, financial performance and results of the combined company following completion of the acquisition; disruption from the Transaction, making it more difficult to conduct business as usual or maintain relationships with customers, employees or suppliers; effects relating to the announcement of the Transaction or any further announcements or the consummation of the acquisition on the market price of Abcam’s American depositary shares; regulatory initiatives and changes in tax laws; market volatility; and other risks and uncertainties affecting Danaher and Abcam, including those described from time to time under the caption “Risk Factors” and elsewhere in Abcam’s Annual Report on Form 20-F for the year ended December 31, 2022 and in any subsequent reports on Form 6-K, each of which is on file with or furnished to the U.S. Securities and Exchange Commission (“SEC”) and available at the SEC’s website at www.sec.gov. Moreover, other risks and uncertainties of which Abcam is not currently aware may also affect these forward-looking statements and may cause actual results and the timing of events to differ materially from those anticipated. Investors are cautioned that forward-looking statements are not guarantees of future performance. SEC filings for the Company are available in the Investor Relations section of the Company’s website at https://corporate.abcam.com/investors/. The information contained on, or that can be accessed through, the Company’s website is not a part of, and shall not be incorporated by reference into, this announcement.

The forward-looking statements made in this announcement are made only as of the date hereof or as of the dates indicated in the forward-looking statements and reflect the views stated therein with respect to future events as at such dates, even if they are subsequently made available by Abcam on its website or otherwise. Abcam does not undertake any obligation to update or supplement any forward-looking statements to reflect actual results, new information, future events, changes in its expectations or other circumstances that exist after the date as of which the forward-looking statements were made other than to the extent required by applicable law.

Important Additional Information and Where to Find It

Abcam has furnished to the SEC under cover of a Report of Foreign Private Issuer on Form 6-K and mailed or otherwise provided to its shareholders the Scheme Circular containing information on the Scheme and the Transaction. This announcement is not a substitute for the Scheme Circular or any other document that may be filed or furnished by Abcam with the SEC. Investors and security holders are urged to carefully read the entire Scheme Circular (which includes an explanatory statement in respect of the Scheme in accordance with the requirements of the U.K. Companies Act 2006) and other relevant documents as and when they become available because they will contain important information. You may obtain copies of all documents filed with or furnished to the SEC regarding the Transaction, free of charge, at the SEC’s website (www.sec.gov).

Investors and shareholders will be able to obtain free copies of the Scheme Circular and other documents filed with or furnished to the SEC by the Company on its investor website (https://corporate.abcam.com/investors/danaher-abcam) or by writing to the Company, at 152 Grove Street, Building 1100 Waltham, MA 02453, United States of America.

Neither this announcement nor any copy of it may be taken or transmitted directly or indirectly into or from any jurisdiction where to do so would constitute a violation of the relevant laws or regulations of such jurisdiction. Any failure to comply with this restriction may constitute a violation of such laws or regulations. Persons in possession of this announcement or other information referred to herein should inform themselves about, and observe, any restrictions in such laws or regulations.

This announcement has been prepared for the purpose of complying with the applicable law and regulation of the United Kingdom and the United States and information disclosed may not be the same as that which would have been disclosed if this announcement had been prepared in accordance with the laws and regulations of jurisdictions outside the United Kingdom or the United States.

No Offer or Solicitation

This announcement is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities or the solicitation of any vote or approval in any jurisdiction, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law.

The Transaction will be implemented solely pursuant to the Scheme, subject to the terms and conditions of the definitive transaction agreement, which contains the terms and conditions of the Transaction.

Morgan Stanley & Co. International plc (“Morgan Stanley”) which is authorised by the Prudential Regulation Authority and regulated in the U.K. by the Financial Conduct Authority and the Prudential Regulation Authority, is acting exclusively as financial adviser to Abcam and no one else in connection with the Transaction and Morgan Stanley, its affiliates and its respective officers, employees, agents, representatives and/or associates will not regard any other person as their client, nor will they be responsible to anyone other than Abcam for providing the protections afforded to clients of Morgan Stanley nor for providing advice in connection with the Transaction or any matter or arrangement referred to herein.

Lazard & Co., Limited , which is authorised and regulated in the U.K. by the Financial Conduct Authority, and Lazard Freres & Co. LLC (together, “Lazard”) are acting exclusively as financial adviser to Abcam and no one else in connection with the matters set out in this announcement and will not be responsible to anyone other than Abcam for providing any protections afforded to clients of Lazard nor for providing advice in relation to the matters set out in this announcement. Neither Lazard nor any of its affiliates (nor their respective directors, officers, employees or agents) owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Lazard in connection with this announcement, any statement contained herein or otherwise.

Abcam plc
Tommy Thomas, CPA
Vice President, Investor Relations
+1 617-577-4205

152 Grove Street, Building 1100
Waltham, MA 02453

Media enquiries
FTI Consulting
+44 (0)20-3727-1000
Abcam@fticonsulting.com

 

Abcam Confirms Dr. Jonathan Milner has Withdrawn EGM Requisition Notice and Related Resolutions

Shareholders are encouraged not to attend or submit voting instructions or proxies related to the EGM

CAMBRIDGE, England and WALTHAM, Mass., June 28, 2023 – Abcam plc (“Abcam,” “Company,” “Group”) (Nasdaq: ABCM), a global leader in the supply of life science research tools, today confirmed that it has received a letter of undertaking from Dr. Jonathan Milner withdrawing his notice dated May 30, 2023 (the “Requisition Notice”) which required the Company to call an Extraordinary General Meeting of its shareholders (the “EGM”) to consider certain resolutions proposed by him (the “Resolutions”).

In light of this letter from Dr. Jonathan Milner and the withdrawal of the Requisition Notice, in accordance with English law, a motion withdrawing the Resolutions will be presented at the EGM, which is scheduled to be held at 2.00 p.m. (BST) || 9:00am (EDT) on July 12, 2023. Shareholders are encouraged not to attend, not to submit voting instructions or proxies for, and not take any other action in relation to the EGM.

Abcam issued the following statement:

The Abcam Board and management team appreciate the constructive discussions we have had with our shareholders and will continue to maintain an ongoing dialogue. Our Board remains focused on our recently announced process to explore strategic alternatives for the Company, which will evaluate a broad range of options to maximize shareholder value, including a potential sale of the Company.

About Abcam plc

As an innovator in reagents and tools, Abcam’s purpose is to serve life science researchers globally to achieve their mission faster. Providing the research and clinical communities with tools and scientific support, the Company offers highly validated antibodies, assays, and other research tools to address important targets in critical biological pathways.

Already a pioneer in data sharing and ecommerce in the life sciences, Abcam’s ambition is to be the most influential company in life sciences by helping advance global understanding of biology and causes of disease, which, in turn, will drive new treatments and improved health.

Abcam’s worldwide customer base of approximately 750,000 life science researchers’ uses Abcam’s antibodies, reagents, biomarkers, and assays. By actively listening to and collaborating with these researchers, the Company continuously advances its portfolio to address their needs. A transparent program of customer reviews and datasheets, combined with industry-leading validation initiatives, gives researchers increased confidence in their results.

Founded in 1998 and headquartered in Cambridge, UK, the Company has served customers in more than 130 countries. Abcam’s American Depositary Shares (ADSs) trade on the Nasdaq Global Select Market (Nasdaq: ABCM).

For more information, please visit www.abcam.com or www.abcamplc.com

Forward-Looking Statements

This announcement contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbour provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “seek,” “believe,” “estimate,” “predict,” “potential,” “continue,” “contemplate,” “possible” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Any express or implied statements contained in this announcement that are not statements of historical fact, including statements regarding the upcoming EGM, are forward-looking statements, and are neither promises nor guarantees, but involve known and unknown risks and uncertainties that could cause actual results to differ materially from those projected, including, without limitation: challenges in implementing our strategies for revenue growth in light of competitive challenges; the development of new products or the enhancement of existing products, and the need to adapt to significant technological changes or respond to the introduction of new products by competitors to remain competitive; our customers discontinuing or spending less on research, development, production or other scientific endeavors; failing to successfully identify or integrate acquired businesses or assets into our operations or fully recognize the anticipated benefits of businesses or assets that we acquire; the ongoing COVID-19 pandemic, including variants, continues to affect our business, including impacts on our operations and supply chains; failing to successfully use, access and maintain information systems and implement new systems to handle our changing needs; cyber security risks and any failure to maintain the confidentiality, integrity and availability of our computer hardware, software and internet applications and related tools and functions; failing to successfully manage our current and potential future growth; any significant interruptions in our operations; our products failing to satisfy applicable quality criteria, specifications and performance standards; failing to maintain and enhance our brand and reputation; ability to react to unfavorable geopolitical or economic changes that affect life science funding; failing to deliver on transformational growth projects; our dependence upon management and highly skilled employees and our ability to attract and retain these highly skilled employees; as a foreign private issuer, we are exempt from a number of rules under the US securities laws and Nasdaq corporate governance rules and are permitted to file less information with the US Securities and Exchange Commission (“SEC”) than US companies, which may limit the information available to holders of our ADSs; and other important factors discussed under the caption “Risk Factors” in the Company’s Annual Report on Form 20-F for the year ended 31 December 2022, filed with the SEC on 20 March 2023, which is available on the SEC website at www.sec.gov, as such factors may be updated from time to time in the Company’s subsequent filings with the SEC. Any forward-looking statements contained in this announcement speak only as of the date hereof and accordingly undue reliance should not be placed on such statements. The Company disclaims any obligation to update or revise any forward-looking statements contained in this announcement, whether as a result of new information, future events or otherwise, other than to the extent required by applicable law.

Abcam plc

Tommy Thomas, CPA
Vice President, Investor Relations
+1 617-577-4205

152 Grove Street, Building 1100
Waltham, MA 02453

Media enquiries

US: Joele Frank
+1 212-355-4449
Abcam-JF@joelefrank.com

UK and Europe: FTI
+44 (0)20-3727-1000
Abcam@fticonsulting.com

Abcam Announces Review of Strategic Alternatives

Cambridge, UK / Waltham, MA: Abcam plc (“Abcam,” “Company,” “Group”) (Nasdaq: ABCM), a global leader in the supply of life science research tools, today announces that, having listened to and extensively engaged with shareholders, the Board of Directors has unanimously decided to initiate a process to explore strategic alternatives for the Company. The comprehensive process will begin immediately and will evaluate a broad range of options to maximize shareholder value, including a potential sale of the Company.  As previously disclosed, Abcam has received strategic inquiries from multiple parties over the past few weeks.

The Company commented: “Abcam is a unique asset that provides innovative products and solutions for the global life sciences community.  Our Board is fully aligned in its belief that the best way to maximize value for shareholders is to comprehensively review the Company’s strategic alternatives, including a potential sale of Abcam.  We will pursue the pathway that maximizes value for our shareholders and also ensures successful outcomes for our customers and employees.”

The Board of Directors has retained Lazard and Morgan Stanley as financial advisors to assist in its review of strategic alternatives. Latham & Watkins has been appointed as legal advisor in connection with the review process.

There can be no assurance regarding the results or outcome of this review. Abcam does not intend to comment further on this strategic review process and will make further announcements in accordance with its ongoing disclosure obligations and pursuant to applicable laws and regulations.


About Abcam plc

As an innovator in reagents and tools, Abcam’s purpose is to serve life science researchers globally to achieve their mission faster. Providing the research and clinical communities with tools and scientific support, the Company offers highly validated antibodies, assays, and other research tools to address important targets in critical biological pathways.

Already a pioneer in data sharing and ecommerce in the life sciences, Abcam’s ambition is to be the most influential company in life sciences by helping advance global understanding of biology and causes of disease, which, in turn, will drive new treatments and improved health.

Abcam’s worldwide customer base of approximately 750,000 life science researchers’ uses Abcam’s antibodies, reagents, biomarkers, and assays. By actively listening to and collaborating with these researchers, the Company continuously advances its portfolio to address their needs. A transparent program of customer reviews and datasheets, combined with industry-leading validation initiatives, gives researchers increased confidence in their results.

Founded in 1998 and headquartered in Cambridge, UK, the Company has served customers in more than 130 countries. Abcam’s American Depositary Shares (ADSs) trade on the Nasdaq Global Select Market (Nasdaq: ABCM).

For more information, please visit www.abcam.com or www.abcamplc.com

Forward-Looking Statements

This announcement contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by the following words: “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “seek,” “believe,” “estimate,” “predict,” “potential,” “continue,” “contemplate,” “possible” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. They are not historical facts, nor are they guarantees of future performance.  Any express or implied statements contained in this announcement that are not statements of historical fact may be deemed to be forward-looking statements, including, without limitation, statements regarding the timing and scope of a process to explore strategic alternatives for the Company, including a potential sale of Abcam, and Abcam’s portfolio and ambitions.  These forward-looking statements are neither promises nor guarantees, but involve known and unknown risks and uncertainties that could cause actual results to differ materially from those projected, including, without limitation:  challenges in implementing our strategies for revenue growth in light of competitive challenges; the development of new products or the enhancement of existing products, and the need to adapt to significant technological changes or respond to the introduction of new products by competitors to remain competitive; our customers discontinuing or spending less on research, development, production or other scientific endeavors; failing to successfully identify or integrate acquired businesses or assets into our operations or fully recognize the anticipated benefits of businesses or assets that we acquire; the ongoing COVID 19 pandemic, including variants, continues to affect our business, including impacts on our operations and supply chains; failing to successfully use, access and maintain information systems and implement new systems to handle our changing needs; cyber security risks and any failure to maintain the confidentiality, integrity and availability of our computer hardware, software and internet applications and related tools and functions; failing to successfully manage our current and potential future growth; any significant interruptions in our operations; our products failing to satisfy applicable quality criteria, specifications and performance standards; failing to maintain and enhance our brand and reputation; ability to react to unfavorable geopolitical or economic changes that affect life science funding; failing to deliver on transformational growth projects; our dependence upon management and highly skilled employees and our ability to attract and retain these highly skilled employees; and as a foreign private issuer, we are exempt from a number of rules under the U.S. securities laws and Nasdaq corporate governance rules and are permitted to file less information with the SEC than U.S. companies, which may limit the information available to holders of our American Depositary Shares (“ADS”); and the other important factors discussed under the caption “Risk Factors” in Abcam’s Annual Report on Form 20-F for the year ended December 31, 2022 (“Annual Report”) filed with the U.S. Securities and Exchange Commission (“SEC”) on March 20, 2023, which is available on the SEC website at www.sec.gov, as such factors may be updated from time to time in Abcam’s subsequent filings with the SEC. Any forward-looking statements contained in this announcement speak only as of the date hereof and accordingly undue reliance should not be placed on such statements. Abcam disclaims any obligation or undertaking to update or revise any forward-looking statements contained in this announcement, whether as a result of new information, future events or otherwise, other than to the extent required by applicable law.

Abcam plc

Tommy Thomas, CPA
Vice President, Investor Relations
+1 617-577-4205

152 Grove Street, Building 1100
Waltham, MA 02453

Media enquiries

US: Joele Frank
+1 212-355-4449
Abcam-JF@joelefrank.com

UK and Europe: FTI
+44 (0)20-3727-1000
Abcam@fticonsulting.com

Statement on calling an Extraordinary General Meeting

Cambridge, UK / Waltham, MA: Abcam plc (“Abcam,” “Company,” “Group”) (Nasdaq: ABCM), a global leader in the supply of life science research tools, notes that it has received a notice from Dr. Jonathan Milner seeking to require the Board of Directors to convene an Extraordinary General Meeting (the “EGM”). The Company is reviewing the notice with its legal advisors and will provide a further update in due course. Shareholders do not need to take any action at this time.

The Board has met with Dr. Milner in good faith over the past few weeks to discuss how his expertise can be used at the Board and continues to seek a resolution that would benefit all shareholders and avoid an unnecessary and distracting EGM at a significant cost to the Company and its shareholders.

Dr. Milner initially formally requested to be re-appointed to the Board, in a non-executive role, on 28 April 2023, less than three weeks prior to the Company’s Annual General Meeting (the “AGM”) and after the date he could have been properly nominated for election at the AGM. The Board moved quickly to complete its formal consideration of Dr. Milner’s appointment to the Board, including facilitating meetings with all of Abcam’s non-executive directors within 10 days.

Following completion of its governance process, the Board offered Dr. Milner a seat on the Board subject to a customary relationship agreement, consistent with his being a significant shareholder. After informing Dr. Milner that the Board was willing and able to appoint him, he immediately rejected the invitation and requested to be named Executive Chairman.  Dr. Milner then issued a press release announcing his intent to requisition an Extraordinary General Meeting.

Despite the Board’s efforts to encourage Dr. Milner to join the Board, Dr. Milner has made it clear he will not accept any other role on the Board except Executive Chairman. He has not yet offered any details as to his vision or how he would interact with the Company, therefore making it impossible for the Board to ensure effective executive governance could be delivered.

 

About Abcam plc

As an innovator in reagents and tools, Abcam’s purpose is to serve life science researchers globally to achieve their mission faster. Providing the research and clinical communities with tools and scientific support, the Company offers highly validated antibodies, assays, and other research tools to address important targets in critical biological pathways.

Already a pioneer in data sharing and ecommerce in the life sciences, Abcam’s ambition is to be the most influential company in life sciences by helping advance global understanding of biology and causes of disease, which, in turn, will drive new treatments and improved health.

Abcam’s worldwide customer base of approximately 750,000 life science researchers’ uses Abcam’s antibodies, reagents, biomarkers, and assays. By actively listening to and collaborating with these researchers, the Company continuously advances its portfolio to address their needs. A transparent program of customer reviews and datasheets, combined with industry-leading validation initiatives, gives researchers increased confidence in their results.

Founded in 1998 and headquartered in Cambridge, UK, the Company has served customers in more than 130 countries. Abcam’s American Depositary Shares (ADSs) trade on the Nasdaq Global Select Market (Nasdaq: ABCM).

For more information, please visit www.abcam.com or www.abcamplc.com

 

Forward-Looking Statements

This announcement contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by the following words: “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “seek,” “believe,” “estimate,” “predict,” “potential,” “continue,” “contemplate,” “possible” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. They are not historical facts, nor are they guarantees of future performance.  Any express or implied statements contained in this announcement that are not statements of historical fact may be deemed to be forward-looking statements, including, without limitation, statements regarding Abcam’s expectations relating to Dr. Milner’s request, and are neither promises nor guarantees, but involve known and unknown risks and uncertainties that could cause actual results to differ materially from those projected, including, without limitation,  important factors discussed under the caption “Risk Factors” in Abcam’s Annual Report on Form 20-F for the year ended December 31, 2022 with the U.S. Securities and Exchange Commission (“SEC”) on March 20, 2023, which is available on the SEC website at www.sec.gov, as such factors may be updated from time to time in Abcam’s subsequent filings with the SEC. Any forward-looking statements contained in this announcement speak only as of the date hereof and accordingly undue reliance should not be placed on such statements. Abcam disclaims any obligation or undertaking to update or revise any forward-looking statements contained in this announcement, whether as a result of new information, future events or otherwise, other than to the extent required by applicable law.

 

Abcam plc

Tommy Thomas, CPA
Vice President, Investor Relations
+1 617-577-4205

152 Grove Street, Building 1100
Waltham, MA 02453

Media enquiries

US: Joele Frank
+1 212-355-4449
Abcam-JF@joelefrank.com

Europe: FTI
+44 (0)203-727-1000
Abcam@fticonsulting.com

Result of Annual General Meeting

Cambridge, UK/ Waltham, MA: Abcam plc (Nasdaq: ABCM), a global leader in the supply of life science research tools, announces the voting results from the Annual General Meeting (the “AGM”) held today.  A total of 196,862,506 shares representing 85.7% of Abcam’s issued and outstanding voting capital (including withheld) were voted in connection with the meeting.

The votes were as follows:

Resolution In Favour Against Withheld
1. To receive and adopt the Directors’ Report and the financial statements for the period 31 December 2022, together with the Independent Auditor’s Report. 180,306,403

99.94%

99,238

0.06%

16,456,865

8.36%

2. To approve the Annual Report on Remuneration for the for the period 31 December 2022, as set out on pages 49 to 59 of the Annual Report and Accounts. 174,040,019

95.40%

8,387,468

4.60%

14,435,019

7.33%

3. To re-appoint PricewaterhouseCoopers LLP as auditor of the Company to hold office until the conclusion of the next general meeting at which accounts are laid before the Company. 179,459,110

99.19%

1,467,634

0.81%

15,935,762

8.09%

4. To authorise the Audit and Risk Committee to fix the remuneration of the auditor. 180,876,749

99.97%

47,249

0.03%

15,938,508

8.10%

5. To re-elect Peter Allen as a Director. 171,602,332

96.27%

6,657,956

3.73%

18,602,218

9.45%

6. To re-elect Alan Hirzel as a Director. 180,868,452

99.99%

15,522

0.01%

15,978,532

8.12%

7. To re-elect Michael Baldock as a Director. 173,249,012

95.02%

9,075,983

4.98%

14,537,511

7.38%

8. To re-elect Mara Aspinall as a Director. 159,959,959

88.46%

20,861,003

11.54%

16,041,544

8.15%

9. To re-elect Giles Kerr as a Director. 161,230,904

89.17%

19,590,466

10.83%

16,041,136

8.15%

10. To re-elect Mark Capone as a Director. 180,683,452

99.92%

137,918

0.08%

16,041,136

8.15%

11. To re-elect Sally W Crawford as a Director. 179,114,658

99.06%

1,706,304

0.94%

16,041,544

8.15%

12. To re-elect Bessie Lee as a Director. 180,674,287

99.92%

147,533

0.08%

16,040,686

8.15%

13. To elect Luba Greenwood as a Director. 180,796,348

99.99%

25,522

0.01%

16,040,636

8.15%

14. To grant the Directors the authority to issue shares for cash in certain circumstances. 176,033,135

97.33%

4,826,779

2.67%

16,002,592

8.13%

15. To grant the Directors the authority to disapply pre-emption rights in certain circumstances. 176,443,735

97.56%

4,415,332

2.44%

16,003,439

8.13%

16. To grant the Directors the authority to disapply pre-emption rights for additional equity securities for the purposes of financing or refinancing a transaction. 167,774,655

92.77%

13,083,811

7.23%

16,004,040

8.13%

17. To adopt amended articles of association of the Company. 180,863,563

99.99%

18,456

0.01%

15,980,487

8.12%

18. To approve and authorise forms of share repurchase contract and counterparties. 128,391,815

71.52%

51,119,075

28.48%

17,351,616

8.81%

The issued share capital (“ISC”) as of the date of the meeting was 229,723,147 Ordinary Shares.

The percentage of voting shares in favour and against is the percentage of shares voted and exclude shares on which votes were withheld.

For further information, please contact:

Abcam
Marc Perkins, Company Secretary + 44 (0) 1223 696 000

 

About Abcam plc

As an innovator in reagents and tools, Abcam’s purpose is to serve life science researchers globally to achieve their mission, faster. Providing the research and clinical communities with tools and scientific support, the Company offers highly validated antibodies, assays and other research tools to address important targets in critical biological pathways.

Already a pioneer in data sharing and ecommerce in the life sciences, Abcam’s ambition is to be the most influential company in life sciences by helping advance global understanding of biology and causes of disease, which, in turn, will drive new treatments and improved health.

Abcam’s worldwide customer base of approximately 750,000 life science researchers uses Abcam’s antibodies, reagents, biomarkers and assays. By actively listening to and collaborating with these researchers, the Company continuously advances its portfolio to address their needs. A transparent programme of customer reviews and datasheets, combined with an industry-leading validation initiative, gives researchers increased confidence in their results.

Founded in 1998 and headquartered in Cambridge, UK, the Company has served customers in more than 130 countries. Abcam’s American Depositary Shares (ADSs) trade on the Nasdaq Global Market (Nasdaq: ABCM).

For more information, please visit corporate.abcam.com.

Upcoming Abcam Investor Events

Cambridge, UK: Abcam plc (“Abcam,” “Company,” “Group”) (Nasdaq: ABCM), a global leader in the supply of life science research tools, today announces the following investor events.

Michael Baldock, Chief Financial Officer, will present at two upcoming investor conferences

  • Bank of America 2023 Health Care Conference on Tuesday, May 9 at 10:40am PDT
  • William Blair’s 43rd Annual Growth Stock Conference on Tuesday, June 6 at 12:40pm CDT

The live audio webcast will be available in the investor section of Abcam’s corporate website at corporate.abcam.com/investors/reports-presentations.  An archive will be available after the call at that same address.

About Abcam plc
As an innovator in reagents and tools, Abcam’s purpose is to serve life science researchers globally to achieve their mission faster. Providing the research and clinical communities with tools and scientific support, the Company offers highly validated antibodies, assays, and other research tools to address important targets in critical biological pathways.

Already a pioneer in data sharing and ecommerce in the life sciences, Abcam’s ambition is to be the most influential company in life sciences by helping advance global understanding of biology and causes of disease, which, in turn, will drive new treatments and improved health.

Abcam’s worldwide customer base of approximately 750,000 life science researchers’ uses Abcam’s antibodies, reagents, biomarkers, and assays. By actively listening to and collaborating with these researchers, the Company continuously advances its portfolio to address their needs. A transparent program of customer reviews and datasheets, combined with industry-leading validation initiatives, gives researchers increased confidence in their results.

Founded in 1998 and headquartered in Cambridge, UK, the Company has served customers in more than 130 countries. Abcam’s American Depositary Shares (ADSs) trade on the Nasdaq Global Select Market (Nasdaq: ABCM).

For more information, please visit www.abcam.com or www.abcamplc.com

For further information please contact:

Abcam plc
Tommy Thomas, CPA
Vice President, Investor Relations
+1 617-577-4205
152 Grove Street, Building 1100
Waltham, MA 02453

Trading Update

Cambridge, UK: Abcam plc (“Abcam,” “Company,” “Group”) (Nasdaq: ABCM), a global leader in the supply of life science research tools, today provides the following preliminary trading update for the quarter ending 31 March 2023.

First Quarter 2023

Period Estimated Reported Revenue Estimated Adjusted Operating Profit %
First Quarter 2023 >£100 million >25%

On a constant exchange rate basis, estimated revenue was driven by double-digit revenue growth in Americas and EMEA, and China returned to growth with high-single digit growth on a year-over-year basis.  The Company continues to expect approximately 45% of full year 2023 revenue in the first half, and approximately 55% in the second half.  Total revenue is trending in-line with the first half and full year 2023 Board expectations.

Looking at key performance metrics, the Company has experienced year-to-date improvements in transactional Net Promoter Score (tNPS) and consistent employee Net Promoter Score (eNPS) scores.

Note:
This trading update is based upon unaudited management accounts and has been prepared solely to provide additional information on trading to the shareholders of Abcam plc. All figures are provisional and subject to further review. It should not be relied on by any other party for other purposes.

FY23 Outlook
The Company reiterates reported revenue guidance of approximately £420 million to £440 million, representing 15% to 20% constant exchange rate revenue growth.

The Company will provide first half trading results in July and present half-year 2023 results on 31 August 2023 at 4:30pm EDT.

FY2024 Goal 
The Company is reiterating its 2024 reported revenue goals of £450 million to £525 million1 with adjusted operating profit margins of greater than 30%.

 

About Abcam plc
As an innovator in reagents and tools, Abcam’s purpose is to serve life science researchers globally to achieve their mission faster. Providing the research and clinical communities with tools and scientific support, the Company offers highly validated antibodies, assays, and other research tools to address important targets in critical biological pathways.

Already a pioneer in data sharing and ecommerce in the life sciences, Abcam’s ambition is to be the most influential company in life sciences by helping advance global understanding of biology and causes of disease, which, in turn, will drive new treatments and improved health.

Abcam’s worldwide customer base of approximately 750,000 life science researchers’ uses Abcam’s antibodies, reagents, biomarkers, and assays. By actively listening to and collaborating with these researchers, the Company continuously advances its portfolio to address their needs. A transparent program of customer reviews and datasheets, combined with industry-leading validation initiatives, gives researchers increased confidence in their results.

Founded in 1998 and headquartered in Cambridge, UK, the Company has served customers in more than 130 countries. Abcam’s American Depositary Shares (ADSs) trade on the Nasdaq Global Select Market (Nasdaq: ABCM).

For more information, please visit www.abcam.com or www.abcamplc.com

Forward-Looking Statements
This announcement contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by the following words: “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “seek,” “believe,” “estimate,” “predict,” “potential,” “continue,” “contemplate,” “possible” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. They are not historical facts, nor are they guarantees of future performance.  Any express or implied statements contained in this announcement that are not statements of historical fact may be deemed to be forward-looking statements, including, without limitation, statements regarding Abcam’s portfolio and ambitions, and our future results of operations and financial position such as our outlook for FY2023 and performance goals for FY2024 are neither promises nor guarantees, but involve known and unknown risks and uncertainties that could cause actual results to differ materially from those projected, including, without limitation:  challenges in implementing our strategies for revenue growth in light of competitive challenges; the development of new products or the enhancement of existing products, and the need to adapt to significant technological changes or respond to the introduction of new products by competitors to remain competitive; our customers discontinuing or spending less on research, development, production or other scientific endeavors; failing to successfully identify or integrate acquired businesses or assets into our operations or fully recognize the anticipated benefits of businesses or assets that we acquire; the ongoing COVID 19 pandemic, including variants, continues to affect our business, including impacts on our operations and supply chains; failing to successfully use, access and maintain information systems and implement new systems to handle our changing needs; cyber security risks and any failure to maintain the confidentiality, integrity and availability of our computer hardware, software and internet applications and related tools and functions; failing to successfully manage our current and potential future growth; any significant interruptions in our operations; our products failing to satisfy applicable quality criteria, specifications and performance standards; failing to maintain and enhance our brand and reputation; ability to react to unfavorable geopolitical or economic changes that affect life science funding; failing to deliver on transformational growth projects; our dependence upon management and highly skilled employees and our ability to attract and retain these highly skilled employees; and as a foreign private issuer, we are exempt from a number of rules under the U.S. securities laws and Nasdaq corporate governance rules and are permitted to file less information with the SEC than U.S. companies, which may limit the information available to holders of our American Depositary Shares (“ADS”); and the other important factors discussed under the caption “Risk Factors” in Abcam’s Annual Report on Form 20-F for the year ended December 31, 2022 (“Annual Report”) with the U.S. Securities and Exchange Commission (“SEC”) on March 20, 2023, which is available on the SEC website at www.sec.gov, as such factors may be updated from time to time in Abcam’s subsequent filings with the SEC. Any forward-looking statements contained in this announcement speak only as of the date hereof and accordingly undue reliance should not be placed on such statements. Abcam disclaims any obligation or undertaking to update or revise any forward-looking statements contained in this announcement, whether as a result of new information, future events or otherwise, other than to the extent required by applicable law.

Use of Non-IFRS Financial Measures
To supplement our audited financial results prepared in accordance with International Financial Reporting Standards (“IFRS”) we present Adjusted Operating Profit, Adjusted Operating Profit Margin, Total Constant Exchange Rate Revenue (“CER revenue”), which are financial measures not prepared in accordance with IFRS (“non-IFRS financial measures”). We believe that the presentation of these non-IFRS financial measures provide useful information about our operating results and enhances the overall understanding of our past financial performance and future prospects, allowing for greater transparency with respect to key measures used by management in its financial and operational decision making.  These non-IFRS financial measures are supplemental in nature as they include and/or exclude certain items not included and/or excluded in the most directly comparable IFRS financial measures and should not be considered in isolation, or as a substitute for, financial measures prepared in accordance with IFRS. Further, other companies may calculate these non-IFRS financial measures differently than we do, which may limit the usefulness of those measures for comparative purposes.

Management believes that the presentation of (a) Adjusted Operating Profit, Adjusted Operating Profit Margin, provide useful information to investors and others as management regularly reviews these measures as important indicators of our operating performance and makes decisions based on them, (b) CER revenue provides useful information to investors and others as management regularly reviews this measure to identify period-on-period or year-on-year performance of the business and makes decisions based on it, and (c) Adjusted Selling, General and Administrative expenses and Adjusted Research & Development expenses provide useful information to investors and others as management regularly reviews these measures to identify period-on-period or year-on-year performance of the business and makes decisions based on it, and (d) Free Cash Flow provides useful information to investors and others because management regularly reviews this measure as an important indicator of how much cash is generated by business operations, excluding capital related items, and provides an indication of the amount of cash available for discretionary investing or financing after removing capital related items, and makes decisions based on it.

Please see the following “Non-IFRS Financial Measures” for a qualitative reconciliation of non-IFRS financial measures presented in this Trading Update to their most directly comparable IFRS financial measures. We define:

  • Adjusted Operating Profit as profit for the period / year before taking account of finance income, finance costs, tax, exceptional items, share-based payments, and amortization of acquisition intangibles. Exceptional items consist of certain cash and non-cash items that we believe are not reflective of the normal course of our business; and we identify and determine items to be exceptional based on their nature and incidence or by or by their significance (“exceptional items”). As a result, the composition of exceptional items may vary from period to period / year to year.
  • Adjusted Operating Profit Margin as adjusted operating profit calculated as a percentage of revenue.
  • CER as our total revenue growth from one fiscal period / year to the next on a constant exchange rate basis.

Management is unable to present quantitative reconciliations of Adjusted Operating Profit, Adjusted Operating Profit Margin, and CER revenue to their respective most directly comparable IFRS financial measures of Operating Profit, Operating Profit Margin and Reported Revenue on a forward-looking basis, because items that impact these IFRS financial measures are not within our control and/or cannot be reasonably predicted. Such information may have a significant, and potentially unpredictable, impact on our future financial results.

Abcam plc
Tommy Thomas, CPA
Vice President, Investor Relations
+1 617-577-4205
152 Grove Street, Building 1100
Waltham, MA 02453

1 FY24 Revenue goals calculated at the average exchange rates for the 12 months ended June 2021

World Cancer Day 2022

SFN (Society for Neuroscience)

SFN (Society for Neuroscience)

13-17 November 2021

Chicago, IL / Hybrid