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About this update from Sareum Holdings Plc
[{"type":"text","content":"\n Sareum Holdings PLC\n14 April 2008\n\n\nFor immediate release 14 April 2008\n\n\n SAREUM HOLDINGS PLC\n (\"Sareum\" or \"the Company\")\n\n Fundraising\n\nSareum Holdings plc (AIM: SAR), the specialist structure-based drug discovery\nbusiness, is pleased to announce that it has agreed to place, through its\nbroker, Dowgate Capital Stockbrokers Limited, 219,400,000 ordinary shares of\n0.025p nominal value (\"Ordinary Shares\") at a price of 0.25p per share to raise\n£548,500 before expenses. The funds raised from this share issue will be used to\nprovide additional working capital for the Company.\n\nFollowing the issue of these shares, the Company's issued share capital will\nconsist of 818,097,713 Ordinary Shares. The Company does not hold any ordinary\nshares in Treasury. Therefore the total number of ordinary shares with voting\nrights is now 818,097,713. This figure may be used by shareholders as the\ndenominator for the calculations by which they will determine if they are\nrequired to notify their interest in, or a change to their interest in, the\nCompany under the Financial Services Authority's Disclosure and Transparency\nRules.\n\nApplication has been made for the admission of 219,400,000 shares to trading on\nAIM with admission expected to take place on 18 April 2008.\n\nCommenting on the announcement, Sareum's Chief Executive Officer, Dr Tim\nMitchell, said: \"We are pleased to have been able to raise funds in difficult\nmarket conditions. This placing will provide valuable additional funds for the\nbusiness.\"\n\n\nFor further information:\n\nSareum Holdings plc 01223 497700\n\nTim Mitchell, Chief Executive Officer\nBuchanan Communications 020 7466 5000\n\nTim Anderson, Mary-Jane Johnson\nGrant Thornton Corporate Finance 020 7383 5100\n\nPhilip Secrett, Colin Aaronson\n\n\nNotes for editors:\n\nAbout Sareum Holdings plc\n\nSareum Holdings plc is a structure-based drug discovery business headquartered\nin Cambridge, UK. The Company was formed in August 2003 to discover new drugs\nfor the treatment of cancer. Sareum's unique approach aims to halve the time it\ntakes to discover new drug candidates.\n\nA structure-based approach to drug discovery relies on knowledge of the\nthree-dimensional structure of the proteins that cause disease. Once the\nstructure is known, potential drugs are designed to 'lock-in' to the ...