22 Jun 2017 07:00
22 June 2017
REDX PHARMA PLC (in administration)
("Redx" or "the Company")
Update on Suspension of Trading
Redx, the drug discovery and development company, is today providing an update on developments since the announcement of the suspension of its shares from trading on the AIM market of the London Stock Exchange and the appointment of Jason Baker and Miles Needham of FRP Advisory LLP as joint administrators (the "Joint Administrators") on 24 May 2017.
The Joint Administrators are working with the Company's advisers on proposals to rescue Redx and return the Company to the control of its directors, with the intention of lifting the suspension and restoring trading in the ordinary shares.
Discussions regarding these proposals are at a relatively early stage and there can be no guarantee that these will be concluded successfully in the short term.
A further announcement will be made in due course, as and when appropriate.
For further information, please contact:
Redx Pharma Plc (in administration) | |
Contact for the Joint Administrators: James Rossiter (Morgan Rossiter)
|
T: + 44 203 195 3240 |
Cantor Fitzgerald Europe (Nomad & Broker) |
T: +44 20 7894 7000 |
Phil Davies/ Michael Reynolds |
|
| |
WG Partners LLP (Joint Broker) | T: +44 20 3705 9330 |
Claes Spång/ Chris Lee/ David Wilson |
|
About Redx Pharma Plc (in administration)
Company website: redxpharma.com
Redx is focused on the discovery and development of proprietary, small molecule therapeutics to address areas of high, unmet medical need, principally in cancer, infection and immunology, providing a pipeline of assets to larger and emerging companies. By improving the characteristics of existing drug classes to create highly differentiated, novel, best-in-class drugs, Redx has already established a broad portfolio of proprietary drug programs.