Sareum Holdings PLC – Successful Fundraising

Sareum Holdings PLC – Successful Fundraising

Sareum Holdings PLC, the specialist small molecule drug development business announced on 25 June 2019 the launch of a fundraising comprising a placing by Hybridan LLP in conjunction with an offer via PrimaryBid.

The Company is pleased to announce that the PrimaryBid Offer successfully completed and closed at 9:00 p.m. on 25 June 2019.

Following the successful closing of the Offer, the Company has raised gross proceeds of £681,484 at 0.4 pence per ordinary share via the Fundraising.

The Company will therefore issue and allot a total of 170,371,000 New Ordinary Shares to satisfy the Fundraising. Application has been made to the London Stock Exchange for these New Ordinary Shares, which rank pari passu with the Company’s existing Ordinary Shares, to be admitted to trading on AIM. Dealings are expected to commence at 8.00 a.m. on 2 July 2019

Total Voting Rights

Following the issue of the New Ordinary Shares, the Company will have 3,046,364,219 ordinary shares of 0.025 pence in issue. No Ordinary Shares are held in treasury. The figure of 3,046,364,219 may be used by the Company’s 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 Financial Conduct Authority’s Disclosure Rules and Transparency Rules.

Dr Tim Mitchell, CEO of Sareum Holdings plc, said: “We are pleased to have successfully completed this new fundraising, particularly the participation from retail investors, as well as the continued support from our existing shareholder base. The funds will be used to advance our lead internal TYK2/JAK1 inhibitor programmes towards human trials. We believe we have the potential to generate significant value with these candidates, which represent exciting prospects in an area of increasing interest in the pharmaceutical industry. We look forward to putting our strengthened financial position to work and to updating shareholders on progress as milestones are reached.”

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