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SAR Sareum Holdings Plc

34.00
-3.25 (-8.72%)
17 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Sareum Holdings Plc LSE:SAR London Ordinary Share GB00BMC3RJ87 ORD GBP 0.0125
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -3.25 -8.72% 34.00 33.00 35.00 37.50 33.50 37.50 1,020,902 16:23:31
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Pharmaceutical Preparations 0 -3.19M -0.0469 -7.25 23.14M

Sareum Holdings PLC Issue of RiverFort Subscription Shares

09/04/2024 4:00pm

RNS Regulatory News


RNS Number : 9094J
Sareum Holdings PLC
09 April 2024
 

Sareum Holdings plc

("Sareum" or the "Company")

 

Issue of RiverFort Subscription Shares

 

Cambridge, UK, 9 April 2024 - Sareum Holdings plc (AIM: SAR), a clinical-stage biotechnology company developing next-generation kinase inhibitors for autoimmune disease and cancer, announces that it has issued 2,900,000 new Ordinary Shares in the capital of the Company to RiverFort Global Opportunities PCC Ltd ("RiverFort"), in accordance with the terms of the Facility as announced on 3 August 2023.

 

As announced on 3 August 2023, the Company entered into an Equity Prepayment Facility with RiverFort (the "Facility"). The Company has drawn £2.3 million to date pursuant to the Facility from two prepayment deposits. After this issue of 2.9m shares to RiverFort, the Company now has an outstanding balance of circa £0.8 million under the Facility. Any balances pursuant to the Facility are not due for repayment until August 2025 (the "Maturity Date") and the Company expects to settle all balances by the issuance of Subscription Shares prior to the Maturity Date.

 

As noted in Sareum's RNS of 28 March 2024, the Company does not intend to make any further withdrawals pursuant to the Facility with RiverFort.

 

Admission and Total Voting Rights

Application has been made to the London Stock Exchange plc for the admission of 2,900,000 new Ordinary Shares to trading on AIM ("Admission"). It is expected that Admission will occur at 8.00 a.m. (London time) on Friday 12 April 2024.

Immediately following Admission, the total number of Ordinary Shares in issue will be 98,578,309 and the total number of voting rights will therefore be 98,578,309, and 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 share capital of the Company under the FCA's Disclosure and Transparency Rules.

Terms and definitions used in this announcement shall have the same meaning as ascribed to them in the Company's announcement dated 3 August 2023, unless otherwise stated.

 

 

For Further Information:

 

Sareum Holdings plc

Tim Mitchell, CEO            

Lauren Williams, Head of Investor Relations

 

01223 497700

ir@sareum.co.uk

Strand Hanson Limited (Nominated Adviser)

James Dance / James Bellman

 

020 7409 3494

Peel Hunt LLP (Joint Corporate Broker)

020 7418 8900

James Steel / Patrick Birkholm

 


Hybridan LLP (Joint Corporate Broker)

Claire Noyce

 

020 3764 2341

ICR Consilium (Financial PR)

Jessica Hodgson / Davide Salvi / Kumail Waljee

0203 709 5700

 

 

About Sareum

 

Sareum Holdings (AIM:SAR) is a clinical-stage biotechnology company developing next generation kinase inhibitors for autoimmune disease and cancer.

 

The Company is focused on developing next generation small molecules which modify the activity of the JAK kinase family and have best-in-class potential. Its lead candidate, SDC-1801, simultaneously inhibits TYK2 and JAK1. SDC-1801 is a potential treatment for a range of autoimmune diseases and has entered Phase 1a/b clinical development with an initial focus on psoriasis.

 

Sareum is also developing SDC-1802, a TYK2/JAK1 inhibitor with a potential application for cancer immunotherapy.

 

Sareum Holdings plc is based in Cambridge, UK, and is listed on the AIM market of the London Stock Exchange, trading under the ticker SAR. For further information, please visit the Company's website at www.sareum.com

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
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