Result of GM and Cancellation of Trading on AIM

Destiny Pharma PLC

31 July 2024

 

Destiny Pharma plc

("Destiny Pharma" or "the Company")

Result of General Meeting and Cancellation of Admission to Trading on AIM

Brighton, United Kingdom - 31 July 2024 - Destiny Pharma (AIM: DEST), a clinical stage biotechnology company focused on the development and commercialisation of novel medicines to prevent and cure life threatening infections, announces that, at the general meeting of the Company held earlier today (the "General Meeting"), all resolutions put to the Company's shareholders ("Shareholders") were duly passed.

The table below sets out the details of the votes put to Shareholders:

Special Resolution Number	Special Resolution Name	Votes for		Votes Against		Votes Withheld*	Total Votes Cast (excl. withheld)
		No. of shares	% of shares voted	No. of shares	% of shares voted	No. of shares
1	Cancellation Resolution	36,177,977	87.82%	5,016,137	12.18%	48,982	41,194,114
2	Re-registration Resolution	36,329,435	88.19%	4,864,679	11.81%	48,982	41,194,114
3	Adoption of New Articles of Association Resolution	36,183,961	87.84%	5,010,153	12.16%	48,982	41,194,114

*A vote withheld is not a vote in law and is not counted in the calculation of the proportion of votes 'For' or 'Against'

In accordance with the passing of Resolutions 2 and 3, the Company will re-register as a private limited company with the name Destiny Pharma Limited and adopt new articles of association, which is expected to take place on or around 30 August 2024.

The full text of the resolutions proposed and passed at the General Meeting can be found in the circular containing, inter alia, the Notice of General Meeting, which was published and posted to Shareholders on 15 July 2024 and is available on the Company's website www.destinypharma.com (the "Circular").

AIM Delisting

Following approval by Shareholders at the General Meeting, the admission of the ordinary shares of 1 pence each in the capital of the Company (the "Ordinary Shares") to trading on AIM will be cancelled (the "AIM Delisting"). The AIM Delisting is expected to take place at 7.00 a.m. on 13 August 2024 and, accordingly, the last day of dealings in Ordinary Shares on AIM is expected to be 12 August 2024.

Matched Bargain Facility

It remains the Company's intention to provide a matched bargain facility to assist Shareholders wishing to trade in Ordinary Shares following the AIM Delisting. Further details with respect to the matched bargain facility, to be provided by J P Jenkins, will be made available in due course on the Company's website www.destinypharma.com.

Capitalised terms used but not defined in this announcement shall have the same meaning given to such terms in the Circular. 

For further information, please contact:

Destiny Pharma plc

Chris Tovey, CEO

Shaun Claydon, CFO

[phone]

[e-mail]

FTI Consulting

Ben Atwell / Simon Conway

[phone]

[e-mail]

Shore Capital (Nominated Adviser and Broker)

Daniel Bush / James Thomas / Lucy Bowden

[phone]

About Destiny Pharma

Destiny Pharma is an innovative, clinical-stage biotechnology company focused on the development and commercialisation of novel medicines that can prevent life-threatening infections. The Company's drug development pipeline includes two late-stage assets XF-73 Nasal gel, a proprietary drug targeting the prevention of post-surgical staphylococcal hospital infections including MRSA and NTCD-M3, a microbiome-based biotherapeutic for the prevention of C. difficile infection (CDI) recurrence which is the leading cause of hospital acquired infection in the US.

For further information on the company, please visit www.destinypharma.com

 

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