TIDMSAR
RNS Number : 6450A
Sareum Holdings PLC
12 October 2009
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| | 12 October 2009 |
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NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO
THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR
ANY JURISDICTION IN WHICH SUCH PUBLICATION IS UNLAWFUL.
Sareum Holdings PLC
("Sareum" or "the Company")
Additional Placing
Sareum (AIM: SAR), the specialist cancer drug discovery business, is pleased to
announce it has conditionally raised a further GBP50,000, before expenses, by
way of a placing by Hybridan LLP of 20,000,000 new ordinary shares of 0.025p
each in the capital of the Company (the "Placing Shares") at 0.25p per
share. This placing of GBP50,000 is in addition to the GBP765,000 raised by
Hybridan in the placings which were announced on 8 September 2009 and 12 October
2009.
Sareum intends to use the proceeds of the placing primarily to progress its
cancer research programmes.
Application has been made to the London Stock
Exchange for the Placing Shares to be admitted to trading on AIM and it is
expected that admission will become effective and trading will commence on 19
October 2009. The Placing Shares will rank pari passu with the existing ordinary
shares of the Company.
Following the admission of the Placing Shares to
trading on AIM, the Company will have a total of 1,175,597,713 shares in
issue.
Tim Mitchell, Founder and CEO commented:
"Sareum has raised a total of GBP815,000 over the last two months which will
enable us progress our cancer research programmes for the foreseeable future. We
are delighted with this support from investing institutions."
Enquiries:
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| Sareum Holdings plc | |
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| Tim Mitchell | 01223 497 700 |
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| | |
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| John East & Partners Limited, a subsidiary of Merchant Securities PLC |
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| Simon Clements/Bidhi Bhoma | 020 7628 2200 |
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| Hybridan LLP | |
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| Claire Noyce/Stephen Austin | 020 3159 5085 |
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This announcement is for information purposes only and does not constitute an
offer or invitation to acquire or dispose of any securities or investment advice
in any jurisdiction.
Hybridan LLP, which is authorised and regulated in the United Kingdom by the
Financial Services Authority, is acting exclusively for the Company and no-one
else in connection with the Placing and will not be responsible to anyone other
than the Company for providing the protections afforded to clients of Hybridan
LLP or for providing advice in relation to the Placing or any transaction or any
other matters referred to herein.
Past performance is no guide to future performance and persons needing advice
should consult an independent financial adviser.
The information contained in this announcement is not for release, publication
or distribution, directly or indirectly, to persons in the United States,
Australia, Canada, Japan or the Republic of South Africa or in any jurisdiction
in which such publication or distribution is unlawful. The Placing Shares have
not been and will not be registered under the United States Securities Act of
1933, as amended, or under the laws of any state of the United States. This
announcement does not constitute an offer to sell or issue, or the solicitation
of an offer to buy or subscribe for, securities in the United States, Australia,
Canada, Japan or the Republic of South Africa or in any jurisdiction in which
such offer or solicitation is unlawful and should not be relied upon in
connection with any decision to acquire Placing Shares or other securities in
the capital of the Company. There will be no public offer of Placing Shares in
the United Kingdom or elsewhere.
Notes for editors:
About Sareum Holdings plc
Sareum is a drug discovery company, headquartered in Cambridge UK, that is
focused on producing targeted small molecule therapeutics to address unmet
medical needs, primarily in cancer.
Sareum aims to successfully deliver drug candidates for licensing to
pharmaceutical and biotechnology companies at the pre-clinical or early clinical
trials stage.
Sareum Holdings plc joined the AIM market of the London Stock Exchange in
October 2004, trading under the symbol SAR. For further information, please
visit www.sareum.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
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