Business
Admission to AIM
Admission to AIM.
About this update from Scancell Holdings Plc
[{"type":"text","content":"\n \n14 July 2010\n\n Scancell Holdings Plc \n\n (`Scancell Holdings' or the `Company') \n\n Withdrawal from PLUS and Admission to AIM \n\nThe Board of Scancell Holdings plc, (PLUS:SCLP), the developer of therapeutic\ncancer vaccines, is pleased to announce that it intends to apply for the\nCompany's Ordinary Shares to be admitted to trading on AIM and, immediately\nprior to the Admission to AIM, it intends to withdraw the Company's Ordinary\nShares from trading on PLUS.\n\nDuring 2010, the Company has raised £2.54 million, before expenses, to fund its\nforeseeable working capital requirements. The Directors believe that the\nexisting funds held by or available to the Group together with future\nanticipated revenues will be sufficient to allow completion of the Phase I/IIa\nclinical trial of SCIB1, its lead melanoma therapeutic vaccine.\n\nThe Ordinary Shares of the Company were originally admitted to trading on PLUS\nin September 2008. However, now that the Company has further strengthened its\nfinancial position and progressed the development of SCIB1, the Directors\nbelieve that it would be in the best interests of the Company and its\nshareholders for the Ordinary Shares to be admitted to trading on the AIM\nmarket of the London Stock Exchange.\n\nThe Directors believe that this represents a natural transition for the Company\nand that the potential benefits of an AIM listing will include an increased\npublic profile for the Company.\n\nUnder the AIM Rules, prior to Admission, the Company is required to publish an\nadmission document. The Company is therefore sending an admission document to\nShareholders to inform them that the Ordinary Shares of the Company will be\nwithdrawn from trading on PLUS from the close of business on 29 July 2010 and\nthat the Ordinary Shares of the Company are expected to be admitted to trading\non AIM at 8.00 a.m. on 30 July 2010.\n\nAn extract from the Admission Document is set out below along with the expected\ntimetable of principal events.\n\nA copy of this announcement and the Admission Document will be available for\ndownload on the Company's website at http://www.scancell.co.uk/\n\nThe Directors of the issuer accept responsibility for this announcement.\n\n\nFor further information contact:\n\nProfessor Lindy Durrant Scancell Holdings Plc + 44 (0)207 245 1100 \n \nJohn Bick/Kirsty Corcor...