Shareholder Requisition Notice

ValiRx PLC

04 March 2024

 

4 March 2024

VALIRX PLC

("ValiRx" or the "Company")

Shareholder Requisition Notice

ValiRx plc (the "Company") (AIM: VAL), a life sciences company focusing on early-stage cancer therapeutics and women's health, announces that it has received a requisition from shareholders representing over 7% of the Company's voting rights to convene a General Meeting ("GM") of the Company (the "Requisition") under section 303 of the Companies Act 2006 (the "Act"). The Requisition requests for the following Ordinary Resolutions to be proposed at the General Meeting:

1.     That Martin Lampshire be removed from the board of directors of the Company with immediate effect.

2.     That Kevin Cox be removed from the board of directors of the Company with immediate effect.

3.     That Adrian De Courcey be appointed as a non-executive director of the Company with immediate effect.

4.     That Benjamin Snipe be appointed as a non-executive director of the Company with immediate effect.

5.     That Ray Horn be appointed as Board Observer of the Company with immediate effect.

6.     That, subject to the passing of resolution 2, a) an interim Chairperson be appointed to the Board of the Company; and b) Shard Capital, the Company's broker, be requested by the Board to provide at least one candidate for the permanent role of non-executive Chairperson by 31 May 2024; if at least one candidate is provided to the Board, the Board may decide to appoint to the role accordingly, but is not required to; otherwise the Board is to proceed with recruitment to the role using services of an external recruitment agency.

7.     That any person appointed as a director of the Company since the date of the requisition of the general meeting of the Company at which this resolution is proposed, and who is not one of the persons referred to in the resolutions numbered 3 and 4 above, be and is hereby removed as a director of the Company.

A further announcement will be made by the Company relating to the calling of a General Meeting and a Notice of General Meeting and accompanying circular will posted to shareholders.

Pursuant to section 304 of the Companies Act 2006, the Company must post a notice convening a general meeting within 21 days from the date on which the requisition was received, and this meeting must be held on a date not more than 28 days after the date of the notice to shareholders convening the general meeting.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR").

The Directors of the Company take responsibility for this announcement.

For more information, please contact:

ValiRx plc Dr Suzanne Dilly, CEO	Tel: [phone] www.valirx.com [e-mail]
V Formation (Public Relations) Lucy Wharton - Senior PR Executive Sue Carr - Director	[phone] www.vformation.biz [e-mail] [e-mail]
Cairn Financial Advisers LLP (Nominated Adviser) Liam Murray/Jo Turner/Ludovico Lazzaretti	Tel: [phone]
Shard Capital Partners LLP (Sole Broker) Damon Heath	Tel: [phone]

Notes for Editors

About ValiRx

ValiRx is a life science company focused on early-stage cancer therapeutics and women's health, accelerating the translation of innovative science into impactful medicines to improve patient lives.

ValiRx provides the scientific, financial, and commercial framework for enabling rapid translation of innovative science into clinical development.

Using its extensive and proven experience in research and drug development, the team at ValiRx selects and incubates promising novel drug candidates and guides them through an optimised process of development, from pre-clinical studies to clinic and investor-ready assets.

ValiRx connects diverse disciplines across scientific, technical, and commercial domains, with the aim of achieving a more streamlined, less costly, drug development process. The team works closely with carefully selected collaborators and leverages the combined expertise required for science to advance.

Lead candidates from ValiRx's portfolio are outlicensed or partnered with investors through ValiRx subsidiary companies for further clinical development and commercialisation. 

ValiRx listed on the AIM Market of the London Stock Exchange in October 2006 and trades under the ticker symbol: VAL.

For further information, visit: www.valirx.com

Cautionary statement

Certain statements made in this announcement are forward-looking statements. Such statements are based on current expectations and assumptions and are subject to a number of risks and uncertainties that could cause actual events or results to differ materially from any expected future events or results expressed or implied in these forward-looking statements. Persons receiving this announcement should not place undue reliance on forward-looking statements. Unless otherwise required by applicable law, regulation or accounting standard, the Company does not undertake to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.

 

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