Business
Completion of Placing
Completion of Placing.
About this update from Sareum Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 2563F Sareum Holdings PLC 26 October 2018 \n\n\n\n\n\n(AIM: SAR)\n\n\n26 October 2018\n\n\n\n\nSareum Holdings plc\n(\"Sareum\" or \"the Company\")\nPlacing to raise £850,000 to progress proprietary TYK2/JAK1 programmes\ninto preclinical development\nSareum Holdings plc (AIM: SAR), the specialist cancer drug discovery and development business, announces that it has raised £850,000, before expenses, through a placement of 130,769,231 new ordinary shares of 0.025p each in the capital of the Company (the \"Placing Shares\") through a third party licensed dealer acting solely as a placing agent to this transaction at 0.65p per share.\nThe net proceeds of the placing will be used to progress the Company's TYK2/JAK1 drug development programmes as well as for working capital purposes. \nApplication has been made for the Placing Shares, which will rank pari passu with the Company's existing Ordinary Shares, to be admitted to trading on London Stock Exchange AIM (\"Admission\"). It is anticipated that Admission will become effective at 8.00 am on 08 November 2018.\nFollowing the admission of the Placing Shares to trading on AIM, the Company will have a total of 2,875,993,219 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.\nDr Tim Mitchell, CEO of Sareum Holdings plc, said: \"We are excited about the potential of the recently nominated lead candidates from our proprietary TYK2/JAK1 inhibitor programmes in autoimmune diseases and cancer. TYK2/JAK1 inhibition is a novel mode of action in these indications and one that is gaining credibility among leading companies. We believe we have strong candidates with optimised profiles in these areas and are focused on advancing these into preclinical development towards clinical trials. These new funds, added to our current cash, will enable us to advance these studies and build up the evidence required to facilitate a licensing agreement at an optimal value.\"\n \nFor further information, please contact: \n\n\n\n\nSareum Holdings plc\n\n\n \n\n\n\n\nTim Mitchell\n\n\n01223 497 700\n\n\n\n\nWH Ireland Limited (Nominated Adviser...