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Last checked at 
24 Mar 2016 11:54
(AIM: SAR) | 24 March 2016 |
Sareum Holdings plc
("Sareum" or "the Company")
Placing
The Company announces that it has raised approximately £1.1 million, before expenses, by way of a placing by Hybridan LLP and WH Ireland Limited of 157,785,715 new ordinary shares of 0.025p each in the capital of the Company (the "Placing Shares") at 0.7p per share.
The net proceeds of the placing will be used to progress the Company's drug development programmes as well as for working capital purposes.
Application will be made to the London Stock Exchange for the Placing Shares to be admitted to trading on AIM and it is expected that admission will become effective and trading will commence on 5 April 2016. The Placing Shares will rank pari passu with the existing ordinary shares of the Company.
Following the admission of the Placing Shares to trading on AIM, the Company will have a total of 2,645,223,988 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 under the FCA's Disclosure and Transparency Rules.
For further information, please contact:
Sareum Holdings PLC | |
Tim Mitchell | Tel: 01223 497 700 |
WH Ireland Limited (Nominated Adviser and Co-Broker) | |
Chris Fielding / Nick Prowting | Tel: 020 7220 1666 |
Hybridan LLP (Co-Broker) | |
Claire Noyce / Niall Pearson | Tel: 020 3764 2341/2343 |
The Communications Portfolio (Public Relations) | |
Ariane Comstive Ariane.comstive@communications-portfolio.co.uk | Tel: 07785 922 354 |
Notes for editors:
About Sareum Holdings plc
Sareum is a drug discovery and development company delivering targeted small molecule therapeutics, focusing on cancer and autoimmune disease, for licensing to pharmaceutical and biotechnology companies at the preclinical or early clinical trials stage.
Sareum operates an outsourced research model, working with collaborators (SRI International, the CRT Pioneer Fund and Hebei Medical University Biomedical Engineering Center) and a world-wide network of research providers. Its research pipeline includes a programme awaiting final approval to start clinical trials and another undergoing pre-clinical IND-enabling studies.
SKIL® (Sareum Kinase Inhibitor Library) is Sareum's drug discovery technology platform that has so far produced the Company's Aurora+FLT3, Aurora+ALK, VEGFR-3, FLT3 & TYK2 kinase cancer and autoimmune disease research programmes. SKIL® can also generate drug research programmes against other kinase targets.
Sareum Holdings plc is listed on the AIM market of the London Stock Exchange, trading under the symbol SAR. For further information, please visit www.sareum.co.uk
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