31 Aug 2018 18:25
Mereo BioPharma Group plc
("Mereo" or the "Company")
Correction to Issued Share Capital
London, 31 August 2018 - Mereo BioPharma Group plc (AIM: MPH), a clinical stage, UK-based, biopharmaceutical company focused on rare diseases, announces a correction to the previously announced number of the Company's ordinary shares of £0.003 each ("Ordinary Shares") in issue.
On 23 July 2018 the Company announced that it had issued, conditional on admission, 95,222 Ordinary Shares, pursuant to an exercise of employee share options. These shares were admitted to trading on AIM on 24 July 2018. The Company has become aware that an administrative error has occurred and only 10,000 of the 95,222 Ordinary Shares were issued. Accordingly, the Company has arranged with the London Stock Exchange to cancel the additional 85,222 Ordinary Shares.
The Company confirms that it now has a total of 71,155,050 Ordinary Shares in issue. 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 Company.
Enquiries:
Mereo BioPharma Group plc | +44 (0)333 023 7300 |
Denise Scots-Knight, Chief Executive Officer | |
Richard Jones, Chief Financial Officer | |
Cantor Fitzgerald Europe (Nominated Adviser and Broker) | +44 (0)20 7894 7000 |
Phil Davies | |
Will Goode | |
Rick Thompson | |
RBC Capital Markets (Joint Broker) | +44 (0)20 7653 4000 |
Rupert Walford Jamil Miah | |
FTI Consulting (Public Relations Adviser) | +44 (0)20 3727 1000 |
Simon Conway | |
Brett Pollard | |
Burns McClellan (US Public Relations Advisor to Mereo Biopharma) | +01 (0) 212 213 0006 |
Lisa Burns | |
Steven Klass |
About Mereo
Mereo is a biopharmaceutical company focused on the development and commercialization of innovative therapeutics that aim to improve outcomes for patients with rare diseases. The portfolio currently consists of four clinical-stage product candidates, each of which were acquired from large pharmaceutical companies: BPS-804 (setrusumab) for the treatment of osteogenesis imperfecta ("OI"); MPH-966 (alvelestat) for the treatment of severe alpha-1 antitrypsin deficiency ("AATD"); BCT-197 for the treatment of acute exacerbations of chronic obstructive pulmonary disease, ("AECOPD"); and BGS-649 for the treatment of hypogonadotropic hypogonadism ("HH") in obese men. Each of the Company's product candidates has generated positive clinical data for Mereo's target indication or in a related indication. The Company's strategy is to selectively acquire product candidates that have already received significant investment from pharmaceutical companies and that have substantial preclinical, clinical and manufacturing data packages. Since inception the Company has commenced large, randomized, placebo-controlled Phase 2 clinical trials for three of the product candidates and has previously announced positive top-line results from two of its clinical trials: a Phase 2 trial with BCT-197 in December 2017 and a Phase 2b dose-ranging study with BGS-649 in March 2018.