Sareum raises £700,000 in placing

Sareum Holdings plc (AIM: SAR), the specialist cancer drug discovery and development business, announces that it has raised £700,000, before expenses, through a placement via Hybridan LLP as agent of the Company, of 100,000,000 new ordinary shares of 0.025p each in the capital of the Company (the "Placing Shares") at 0.7p per share.

The net proceeds of the placing will be used to progress the Company’s drug development programmes as well as for working capital purposes.

Application has been made for the Placing Shares, which will rank pari passu with the Company's existing Ordinary Shares, to be admitted to trading on London Stock Exchange AIM ("Admission"). It is anticipated that Admission will become effective at 8.00 am on 22 November 2017.

Following the admission of the Placing Shares to trading on AIM, the Company will have a total of 2,745,223,988 shares in issue. 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 Company under the FCA's Disclosure and Transparency Rules.

 

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