Sareum Holdings plc
("Sareum" or the "Company")
Issue of
RiverFort Subscription Shares
Cambridge, UK, 15 April 2024 -
Sareum Holdings plc (AIM: SAR), a clinical-stage biotechnology
company developing next-generation kinase inhibitors for autoimmune
disease and cancer, announces that it has issued 3,000,000 new
Ordinary Shares in the capital of the Company to RiverFort Global
Opportunities PCC Ltd ("RiverFort"), in accordance with the
terms of the Facility as announced on 3 August 2023.
The Company has an outstanding
balance of circa £0.64 million under the Facility. Any balances
pursuant to the Facility are not due for repayment until August
2025 (the "Maturity Date")
and the Company expects to settle all balances by the issuance of
Subscription Shares or by cash prior to the Maturity
Date.
As noted in Sareum's announcement of
28 March 2024, the Company does not intend to make any further
withdrawals pursuant to the Facility with RiverFort.
Admission and Total Voting Rights
Application has been made to the
London Stock Exchange plc for the admission of 3,000,000 new
Ordinary Shares to trading on AIM ("Admission"). It is expected that
Admission will occur at 8.00 a.m. (London time) on or around
Thursday 18 April 2024.
Immediately following Admission, the
total number of Ordinary Shares in issue will be 101,578,309 and
the total number of voting rights will therefore be 101,578,309, and this figure may be used by
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 share capital of the Company
under the FCA's Disclosure and Transparency Rules.
Terms and definitions used in this announcement shall have the
same meaning as ascribed to them in the Company's announcement
dated 3 August 2023, unless otherwise stated.
For Further
Information:
|
Sareum
Holdings plc
Tim Mitchell,
CEO
Lauren Williams, Head of Investor Relations
|
01223 497700
ir@sareum.co.uk
|
|
Strand Hanson
Limited (Nominated Adviser)
James Dance / James Bellman
|
020 7409
3494
|
|
Peel Hunt LLP
(Joint Corporate Broker)
|
020 7418
8900
|
|
James Steel / Patrick Birkholm
|
|
|
Hybridan LLP (Joint
Corporate Broker)
Claire Noyce
|
020 3764
2341
|
|
ICR Consilium
(Financial PR)
Jessica Hodgson / Davide Salvi / Kumail Waljee
|
0203 709
5700
|
About
Sareum
Sareum Holdings (AIM:SAR) is a clinical-stage
biotechnology company developing next generation kinase inhibitors
for autoimmune disease and cancer.
The Company is focused on developing next
generation small molecules which modify the activity of the JAK
kinase family and have best-in-class potential. Its lead candidate,
SDC-1801, simultaneously inhibits TYK2 and JAK1. SDC-1801 is a
potential treatment for a range of autoimmune diseases and has
entered Phase 1a/b clinical development with an initial focus on
psoriasis.
Sareum is also developing SDC-1802, a TYK2/JAK1
inhibitor with a potential application for cancer
immunotherapy.
Sareum Holdings plc is based in Cambridge, UK,
and is listed on the AIM market of the London Stock Exchange,
trading under the ticker SAR. For further information, please visit
the Company's website at www.sareum.com