Issue of RiverFort Subscription Shares

Sareum Holdings PLC

09 April 2024

 

Sareum Holdings plc

("Sareum" or the "Company")

Issue of RiverFort Subscription Shares

Cambridge, UK, 9 April 2024 - Sareum Holdings plc (AIM: SAR), a clinical-stage biotechnology company developing next-generation kinase inhibitors for autoimmune disease and cancer, announces that it has issued 2,900,000 new Ordinary Shares in the capital of the Company to RiverFort Global Opportunities PCC Ltd ("RiverFort"), in accordance with the terms of the Facility as announced on 3 August 2023.

As announced on 3 August 2023, the Company entered into an Equity Prepayment Facility with RiverFort (the "Facility"). The Company has drawn £2.3 million to date pursuant to the Facility from two prepayment deposits. After this issue of 2.9m shares to RiverFort, the Company now has an outstanding balance of circa £0.8 million under the Facility. Any balances pursuant to the Facility are not due for repayment until August 2025 (the "Maturity Date") and the Company expects to settle all balances by the issuance of Subscription Shares prior to the Maturity Date.

As noted in Sareum's RNS of 28 March 2024, the Company does not intend to make any further withdrawals pursuant to the Facility with RiverFort.

Admission and Total Voting Rights

Application has been made to the London Stock Exchange plc for the admission of 2,900,000 new Ordinary Shares to trading on AIM ("Admission"). It is expected that Admission will occur at 8.00 a.m. (London time) on Friday 12 April 2024.

Immediately following Admission, the total number of Ordinary Shares in issue will be 98,578,309 and the total number of voting rights will therefore be 98,578,309, and this figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

Terms and definitions used in this announcement shall have the same meaning as ascribed to them in the Company's announcement dated 3 August 2023, unless otherwise stated.

For Further Information:

Sareum Holdings plc Tim Mitchell, CEO             Lauren Williams, Head of Investor Relations	01223 497700 [e-mail]
Strand Hanson Limited (Nominated Adviser) James Dance / James Bellman	020 7409 3494
Peel Hunt LLP (Joint Corporate Broker)	020 7418 8900
James Steel / Patrick Birkholm
Hybridan LLP (Joint Corporate Broker) Claire Noyce	020 3764 2341
ICR Consilium (Financial PR) Jessica Hodgson / Davide Salvi / Kumail Waljee	0203 709 5700

About Sareum

Sareum Holdings (AIM:SAR) is a clinical-stage biotechnology company developing next generation kinase inhibitors for autoimmune disease and cancer.

The Company is focused on developing next generation small molecules which modify the activity of the JAK kinase family and have best-in-class potential. Its lead candidate, SDC-1801, simultaneously inhibits TYK2 and JAK1. SDC-1801 is a potential treatment for a range of autoimmune diseases and has entered Phase 1a/b clinical development with an initial focus on psoriasis.

Sareum is also developing SDC-1802, a TYK2/JAK1 inhibitor with a potential application for cancer immunotherapy.

Sareum Holdings plc is based in Cambridge, UK, and is listed on the AIM market of the London Stock Exchange, trading under the ticker SAR. For further information, please visit the Company's website at www.sareum.com

 

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