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Last checked at 
14 May 2008 07:00
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For immediate release |
14Β MayΒ 2008 |
SAREUM HOLDINGS PLC
("Sareum" or "the Company")
Restructuring
Sareum Holdings plc (AIM: SAR),Β the specialistΒ structure-based drug discoveryΒ business,Β announcesΒ that, as part of the strategic reviewΒ that was announced on 2Β May 2008,Β the CompanyΒ hasΒ implementedΒ aΒ staffΒ restructuring process in order to reduce its cost baseΒ andΒ prepareΒ itself for any potential acquisition or re-financingΒ whilstΒ theΒ futureΒ business strategy is determined. As a result ofΒ thisΒ restructuring,Β Sareum'sΒ overallΒ costsΒ will be reducedΒ by approximatelyΒ one third. The Company's core capabilities will remainΒ essentiallyΒ unchanged andΒ SareumΒ will still continue to deliver on its ongoing research service contractsΒ and toΒ progress its in-house cancer drug discovery programs.Β
- Ends-Β
For further informationΒ please contact:Β
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Sareum Holdings plc |
01223 497700 |
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Tim Mitchell, Chief Executive Officer |
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Buchanan Communications |
020 7466 5000 |
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Tim Anderson,Β Mary-Jane JohnsonΒ |
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Grant Thornton Corporate Finance |
020 7383 5100 |
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Philip Secrett, Colin Aaronson |
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