(Alliance News) - ValiRx PLC on Tuesday said a requisition notice, which it received earlier in February, has been confirmed as invalid following legal advice.
ValiRx is a Nuneaton, England-based life sciences company focused on early-stage cancer therapeutics. Its shares were down 2.1% to 4.65 pence each in London on Tuesday afternoon.
Earlier in February, it had said that it has received a requisition notice from a shareholder group proposing certain changes to the board. At the time, it said it will be seeking legal advice on the validity of the requisition notice.
On Tuesday, ValiRx said the notice has been confirmed as invalid.
"The requisitioning shareholders have been informed and shareholders are advised to take no action at this time," ValiRx said.
By Sophie Rose, Alliance News senior reporter
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ValiRx (VAL)