Early Conclusion of Equity Swap Agreement

RNS Number : 4148M

Sareum Holdings PLC

07 May 2015

 

7 May 2015

Sareum Holdings PLC

("Sareum" or the "Company")

Early Conclusion of Equity Swap Agreement

Sareum Holdings plc (AIM:SAR), the specialist cancer drug discovery and development business, announces that the Equity Swap Agreement with YA Global Master SPV, Ltd. ("YAGM"), as agreed on 13 June 2014, has concluded ahead of schedule. YAGM will continue as an ordinary shareholder, holding its remaining 21,965,000 Company shares (representing 1.15% of the total Company shares in issue) in its long book, with no further obligations under the Equity Swap Agreement.

Dr Tim Mitchell, CEO of Sareum, commented: "We appreciate YAGM's support of Sareum and are pleased to have satisfactorily concluded this agreement."

For further information, please contact:

Sareum Holdings PLC    
Tim Mitchell                                                                                                      Tel: [phone]

WH Ireland Limited (Nominated Adviser and Co-Broker)             
Chris Fielding / Nick Prowting                                                                   Tel: [phone]

Hybridan LLP (Co-Broker)                            
Claire Noyce / William Lynne                                                                     Tel: [phone] 

The Communications Portfolio (Public Relations)                           
Ariane Comstive                                                                                              Tel: [phone]
email: [e-mail]

Notes for editors:

About Sareum Holdings plc

Sareum is a drug discovery and development company delivering targeted small molecule therapeutics, focusing on cancer and autoimmune disease, for licensing to pharmaceutical and biotechnology companies at the preclinical or early clinical trials stage.

Sareum operates an outsourced research model, working with collaborators (SRI International, the CRT Pioneer Fund and Hebei Medical University Biomedical Engineering Center) and a world-wide network of research providers.  Its research pipeline includes two programmes undergoing pre-clinical IND-enabling studies.

SKIL® (Sareum Kinase Inhibitor Library) is Sareum's drug discovery technology platform that has so far produced the Company's Aurora+FLT3, Aurora+ALK, VEGFR-3, FLT3 & TYK2 kinase cancer and auto-immune disease research programmes. SKIL® can also generate drug research programmes against other kinase targets.

Sareum Holdings plc is listed on the AIM market of the London Stock Exchange, trading under the symbol SAR. For further information, please visit www.sareum.co.uk

 

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