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Name | Symbol | Market | Type |
---|---|---|---|
Summit Therapeutics Inc | NASDAQ:SMMT | NASDAQ | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 9.47 | 9.39 | 9.44 | 0 | 01:00:00 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of December 2019.
Commission File Number 001-36866
SUMMIT THERAPEUTICS PLC
(Translation of registrants name into English)
136a Eastern Avenue
Milton Park, Abingdon
Oxfordshire OX14 4SB
United Kingdom
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
On December 23, 2019, Summit Therapeutics plc (the Company) announced the results of the resolutions proposed at the Companys previously announced general meeting of shareholders in connection with (i) the proposed fundraising consisting of (a) the proposed subscription (the Subscription) by Mr. Robert W. Duggan (the Subscriber) of an aggregate of 166,157,050 ordinary shares (the Subscription Shares) of the Company, par value £0.01 per share (the Ordinary Shares), and warrants to purchase an aggregate of 24,923,555 Ordinary Shares and (b) the separate proposed placing (the Placing and, together with the Subscription, the Fundraising) of 9,221,400 Ordinary Shares (the Placing Shares) and warrants to purchase an aggregate of 1,383,210 Ordinary Shares in aggregate to two investors in Europe, including the Companys chief executive officer, Glyn Edwards and (ii) the proposed cancellation of the admission of the Ordinary Shares on AIM (the AIM Delisting). All of the resolutions were duly approved by the Companys shareholders by way of a poll.
The Company also announced that the expected date of admission of the Subscription Shares and the Placing Shares to trading on AIM pursuant to Rule 6 of the AIM Rules for Companies as published from time to time by London Stock Exchange plc (such event, the Admission) has been changed from on or about December 30, 2019 to on or about December 24, 2019. As a result, the Subscription is expected to close on or about December 24, 2019, subject to the satisfaction of certain customary closing conditions and the following additional conditions: (i) Admission shall have occurred; (ii) Frank Armstrong, Leopoldo Zambeletti and David Wurzer shall have delivered to the Company executed resignation letters effective upon Admission; and (iii) the Company shall have delivered to the Subscriber and three additional proposed directors, Dr. Elaine Stracker, Dr. Ventzislav Stefanov and Manmeet Soni, executed appointment letters effective upon Admission.
The Placing is also expected to close on or about December 24, 2019, subject to the satisfaction of certain customary closing conditions and the following additional conditions: (i) the securities purchase agreement with the Subscriber dated December 6, 2019 shall not have lapsed or been terminated and shall have been completed in accordance with its terms, subject only to Admission; and (ii) Admission shall have occurred.
The Companys shareholders duly approved the resolution that the admission of the Ordinary Shares to trading on AIM be cancelled. It is expected that trading of the Ordinary Shares on AIM will cease at 7:00 a.m. GMT on February 24, 2020. The Companys American Depositary Shares (ADSs) will remain listed on the Nasdaq Stock Market (Nasdaq) and, accordingly, all public trading of securities in the Company will take place on Nasdaq following the AIM Delisting.
The full text of the related press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
This Form 6-K, including Exhibit 99.1 hereto, does not constitute an offer to sell, or a solicitation of offers to purchase or subscribe for, securities in the United States or in any other jurisdiction.
Forward-Looking Statements
Any statements in this Form 6-K about the Companys future expectations, plans and prospects, including but not limited to, statements about whether or not the Company will consummate the Fundraising and the anticipated use of the proceeds from the Fundraising, the AIM Delisting, the trading markets for the Companys Ordinary Shares and ADSs, the clinical and preclinical development of the Companys product candidates, the therapeutic potential of the Companys product candidates, the potential of the Discuva Platform, the potential commercialization of the Companys product candidates, the sufficiency of the Companys cash resources, the timing of initiation, completion and availability of data from
clinical trials, the potential submission of applications for marketing approvals and other statements containing the words anticipate, believe, continue, could, estimate, expect, intend, may, plan, potential, predict, project, should, target, would, and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties inherent in the initiation of future clinical trials, availability and timing of data from ongoing and future clinical trials and the results of such trials, whether preliminary results from a clinical trial will be predictive of the final results of that trial or whether results of early clinical trials or preclinical studies will be indicative of the results of later clinical trials, expectations for regulatory approvals, laws and regulations affecting government contracts, availability of funding sufficient for the Companys foreseeable and unforeseeable operating expenses and capital expenditure requirements and other factors discussed in the Risk Factors section of filings that the Company makes with the Securities and Exchange Commission, including the Companys Annual Report on Form 20-F for the fiscal year ended 31 January 2019. Accordingly, readers should not place undue reliance on forward-looking statements or information. In addition, any forward-looking statements included in this Form 6-K represent the Companys views only as of the date of this Report and should not be relied upon as representing the Companys views as of any subsequent date. The Company specifically disclaims any obligation to update any forward-looking statements included in this Form 6-K.
This Form 6-K, including Exhibit 99.1 hereto, is hereby incorporated by reference into the Companys Registration Statement on Form F-3 (File No. 333-232074).
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
SUMMIT THERAPEUTICS PLC | ||||||
Date: December 23, 2019 | By: |
/s/ Glyn Edwards |
||||
Glyn Edwards | ||||||
Chief Executive Officer |
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