Result of General Meeting

RNS Number : 5090J

Syntopix Group plc

31 March 2010

 



Press Release

31 March 2010

Syntopix Group plc

("Syntopix" or "the Company" or "the Group")

Result of General Meeting

Syntopix Group plc (AIM:SYN), the company focused on topical antimicrobial innovations for products in the medicine and consumer healthcare markets, is pleased to announce that, at the Company's General Meeting held today, all the resolutions put to shareholders seeking approval for matters relating to a placing ("Placing") of 2,997,013 new ordinary shares of 10 pence each in the capital of the Company ("Placing Shares") at a price of 67 pence per share, announced by the Company on 15 March 2010, were duly passed. 

In addition to the passing of the resolutions by the Company's shareholders at the General Meeting, the Placing is also conditional on admission of the Placing Shares to trading on AIM.  Application has been made for the Placing Shares to be admitted to trading on AIM and it is expected that Admission will become effective and that dealings will commence on 1 April 2010.

The total number of the Company's ordinary shares of 10 pence each in issue following the Placing will be 10,714,844 with each share carrying the right to one vote. There are no shares held in treasury.

Following completion of the Placing, Syntopix will have cash resources of approximately £2.25 million.

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For further information, please contact:

Syntopix Group plc
Dr Stephen Jones, Chief Executive Officer	[phone]
Tom Bannatyne, Chairman	www.syntopix.com

Zeus Capital Ltd
Ross Andrews / Bobby Fletcher	Tel: [phone]
	www.zeuscapital.co.uk

Media enquiries:

Abchurch Communications
Sarah Hollins / Simone Elviss / Hannah Sharman	Tel: [phone]
[e-mail]	www.abchurch-group.com

Notes to editors

About Syntopix Group plc

Syntopix is a specialised research and development business, focusing on topical antimicrobial innovations for products in consumer healthcare and pharmaceutical markets. The Group was founded in 2003 as a spin-out from the University of Leeds by Dr Jon Cove and Dr Anne Eady, two of the world's leading experts in skin microbiology.

The Group's development focus is on its three leading, core compounds SYN0126, SYN1113 and SYN0017. Each has multiple potential uses across a number of large consumer healthcare markets including skincare, hair-care and oral health. Syntopix has developed strong working relationships with a number of major consumer healthcare companies including Proctor & Gamble and is now actively seeking to out-license these products to commercial partners.

Syntopix has a robust pipeline, with a growing library of over 2,500 compounds. Its strategy is to seek to reduce the risks and costs of drug discovery and development by discovering novel uses for known compounds and combinations of compounds, which have established safety profiles.The Group adopts an ongoing filing process that has resulted in 24 core patents/applications. 

The Group is based at the Institute of Pharmaceutical Innovation in Bradford, giving access to the expertise in skin biology, formulation and toxicology at the universities of Bradford and Leeds.

Syntopix' shareholders include Techtran Group Limited (a subsidiary of IP Group plc), The Wellcome Trust Limited, The University of Leeds and Ridings Early Growth Investment Company Limited. Syntopix joined the AIM market of the London Stock Exchange in March 2006. For more information, please visit our website at www.syntopix.com.

 

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