RENE.L Regulatory News (RENE)

14 Sep 2009 07:02



Change of share trading system 

Guildford, UK, 14 September 2009: ReNeuron Group plc (LSE: RENE.L) announces that with effect from 15 September 2009, its shares will be traded on the SETS trading platform at the London Stock Exchange (LSE), rather than the SEAQ trading system on which the Company's shares are currently traded.

The SETS platform is an electronic, order-driven system that predominantly supports FTSE 100, FTSE250, FTSE Small Cap and the more liquid AIM-quoted securities. Following consultation between the Company's advisers and the LSE, together with a review of recent trading in the Company's shares, the Company believes that the switch in trading platform will lead to enhanced liquidity in its shares, narrower spreads in share price quotes and consequent lower trading costs for investors.

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About ReNeuron

ReNeuron is a leading, UK-based stem cell business. Its primary objective is the development of stem cell therapies targeting areas of significant unmet or poorly met medical need.

ReNeuron has received regulatory and conditional ethical approvals to commence a Phase I clinical trial in the UK with its lead ReN001 stem cell therapy for disabled stroke patients. The Company is developing stem cell therapies for a number of other conditions, including peripheral arterial disease and diseases of the retina.

ReNeuron has also developed a range of stem cell lines for non-therapeutic applications - its ReNcell® products for use in academic and commercial research. The Company's ReNcell®CX and ReNcell®VM neural cell lines are marketed worldwide under license by USA-based Millipore Corporation.

ReNeuron's shares are traded on the London AIM market under the symbol RENE.L. Further information on ReNeuron and its products can be found at www.reneuron.com.

This announcement contains forward-looking statements with respect to the financial condition, results of operations and business achievements/performance of ReNeuron and certain of the plans and objectives of management of ReNeuron with respect thereto. These statements may generally, but not always, be identified by the use of words such as "should", "expects", "estimates", "believes" or similar expressions. This announcement also contains forward-looking statements attributed to certain third parties relating to their estimates regarding the growth of markets and demand for products. By their nature, forward-looking statements involve risk and uncertainty because they reflect ReNeuron's current expectations and assumptions as to future events and circumstances that may not prove accurate. A number of factors could cause ReNeuron's actual financial condition, results of operations and business achievements/performance to differ materially from the estimates made or implied in such forward-looking statements and, accordingly, reliance should not be placed on such statements.