Offer closing date was 30th of April 2020 so it’s old news19 Aug 2020 17:41
RNS Number : 6680K
Redx Pharma plc
23 April 2020
REDX PHARMA PLC
("Redx" or "the Company")
Result of Annual General Meeting and operational update
Alderley Park, 23 April 2020 Redx Pharma (AIM:REDX), the drug discovery and development Company focused on oncology and fibrosis, today announces that its Annual General Meeting was held at 11.00 am on 23 April 2020, with all resolutions passed by substantial majorities, and additionally provides an operational update.
The table below sets out the details of the votes put to shareholders
Resolution number
Resolution name
Number of votes for & discretionary
% of votes for & discretionary
Number of votes against
% of votes against
% of votes witheld
Total votes cast (including withheld)
1
Receive the Company's annual accounts
112,563,705
100%
Nil
Nil%
Nil%
112,567,612
2
Re-appoint RSM as auditors
112,505,053
99.95%
58,652
0.05%
Nil%
112,567,612
3
Elect Dr James Mead as a director
112,503,567
99.94%
63,138
0.06%
Nil%
112,567,612
4
Re-elect Iain Ross as a director
112,503,567
99.94%
63,138
0.06%
Nil%
112,567,612
5
Re-elect Dr Bernd Kirschbaum as a director
112,433,567
99.94%
63,138
0.06%
0.06%
112,567,612
6
Authorise the directors to allot shares
112,472,738
99.92%
93,967
0.08%
Nil%
112,567,612
7
Disapply pre-emption rights
112,472,515
99.92%
93,967
0.08%
Nil%
112,567,612
Since the announcement of the preliminary annual results on 11 March 2020 there have been significant developments for the Company. First, a conditional offer for the Company was announced on 13 March by Redmile Group, LLC ("Redmile") a large US-based specialist healthcare and life sciences investment firm. In the offer document sent to shareholders on 9 April 2020, the offer was declared wholly unconditional in all respects. The first closing date of the offer is on 30 April 2020.
Secondly, the Company now confirms that, following the 30 March announcement regarding the agreement of a £5 million short-term debt facility provided by Redmile, this funding was received on 7 April 2020, and will provide operating cash for the Company into the third quarter of 2020.
Furthermore, the Company and Redmile are continuing their discussions with regards to Redmile's stated intention to provide further long-term funding to the business. Further announcements will be made in due course.
Operationally, Redx remains focused on its strategy of discovering and developing novel drugs with the potential to transform the treatment of cancer and fibrosis. Despite the impact of and restrictions related to the COVID-19 pandemic, the majority of the Company's operations in the discovery phase, preclinical phase, and in ongoing research collaborations are continuing to plan, through efforts
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