REG - Arecor Therapeutics - Result of General Meeting and Total Voting Rights

Arecor TherapeuticsAnnouncement

08/08/2024 15:00

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RNS Number : 7842Z  Arecor Therapeutics PLC  08 August 2024

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED IN IT, IS RESTRICTED AND IS
NOT FOR RELEASE, PUBLICATION, DISTRIBUTION OR FORWARDING, IN WHOLE OR IN PART,
DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA,
CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, OR ANY OTHER JURISDICTION IN
WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

 

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR
CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY
PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES IN
ARECOR THERAPEUTICS PLC OR ANY OTHER ENTITY IN ANY JURISDICTION.

 

8 August 2024

 

Arecor Therapeutics plc

 

("Arecor Therapeutics" or the "Company")

 

Result of General Meeting and Total Voting Rights

 

Arecor Therapeutics (AIM: AREC), the biopharmaceutical group advancing today's
therapies to enable healthier lives, is pleased to announce that the
Resolutions to approve, inter alia, the proposed Placing, Subscription and
Retail Offer as set out in the Circular published on 23 July 2024, and put to
Shareholders at the General Meeting held earlier today, were duly passed. A
summary of the voting results is set out below.

 

Result of General Meeting

 

The Board reports that Resolution 1 passed as an ordinary resolution and
Resolution 2 passed as a special resolution.  Following the passing of the
Resolutions, the Company has received the authority for the Directors to allot
and issue the Placing Shares, Subscription Shares and Retail Offer Shares.

 

The proxy voting results of the Resolutions are included below:

 

 Resolution                                                                      FOR                       AGAINST                  TOTAL              WITHHELD
                                                                                 No. of votes cast  %      No. of votes cast  %     No. of votes cast  No.
 Resolution 1                                                                    14,685,460         99.97  4,968              0.03  14,690,428         310

 To grant the directors authority to allot shares in the Company pursuant to
 the Fundraising in the amount set out in the Notice of General Meeting
 Resolution 2                                                                    14,685,460         99.97  4,968              0.03  14,690,428         310

 Conditionally on the passing of Resolution 1, to empower the directors to
 disapply pre-emption rights on the issue of shares in the Company pursuant to
 the Fundraising in the amount set out in the Notice of General Meeting

 

Admission and Settlement

The Company has raised total gross proceeds of approximately £6.42 million in
aggregate (before expenses) at the Issue Price through the Placing,
Subscription and Retail Offer. Application has been made for 7,129,615 New
Ordinary Shares to be admitted to trading on AIM, which is expected to occur
at 8.00 a.m. on 9 August 2024.

Total Voting Rights

Following Admission, the Company will have 37,756,601 Ordinary Shares in
issue. The Company does not currently hold any shares in treasury. Therefore,
the above figure of 37,756,601 Ordinary Shares may be used by shareholders of
the Company as the denominator for the calculations by which they will
determine if they are required to notify their interest in, or a change in
their interest in, the share capital of the Company under the FCA's Disclosure
Guidance and Transparency Rules.

Unless otherwise stated, capitalised terms not otherwise defined in the text
of this announcement have the same meanings ascribed to them as in the
Circular published by the Company on 23 July 2024.

 

 Arecor Therapeutics plc                                                        www.arecor.com (http://www.arecor.com)

 Dr Sarah Howell, Chief Executive Officer                                       Tel: +44 (0) 1223 426060

                                                                                Email: info@arecor.com

 Panmure Liberum Limited (NOMAD, Joint Bookrunner and Joint Broker)

                                                                              Tel: +44 (0) 20 7886 2500
 Emma Earl, Freddy Crossley, Mark Rogers (Corporate Finance), Rupert Dearden
 (Corporate Broking)

 WG Partners LLP (Joint Bookrunner and Joint Broker)                            Tel: +44 (0) 20 3705 9321

 Nigel Barnes, Satheesh Nadarajah, David Wilson, Claes
 Spang

 Beech Hill Securities, Inc. (Placement Agent)                                  Tel: +1 212 350 7200

  George Billington, Thomas Lawrence

 ICR Consilium                                                                  Tel: +44 (0) 20 3709 5700

 Chris Gardner, David Daley, Lindsey Neville                                    Email: arecor@consilium-comms.com

Tel: +44 (0) 20 3705 9321

 

Beech Hill Securities, Inc. (Placement Agent)

 George Billington, Thomas Lawrence

Tel: +1 212 350 7200

 

 

ICR Consilium

Chris Gardner, David Daley, Lindsey Neville

Tel: +44 (0) 20 3709 5700

Email: arecor@consilium-comms.com

 

 

 

 

About Arecor

Arecor Therapeutics plc is a globally focused biopharmaceutical company
transforming patient care by bringing innovative medicines to market through
the enhancement of existing therapeutic products. By applying our innovative
proprietary technology platform, Arestat™, we are developing an internal
portfolio of proprietary products in diabetes and other indications, as well
as working with leading pharmaceutical and biotechnology companies to deliver
therapeutic products. The Arestat™ platform is supported by an extensive
patent portfolio.

 

For further details please see our website, www.arecor.com
(http://www.arecor.com/)

 

 IMPORTANT NOTICES

This announcement is not for publication or distribution, directly or
indirectly, in or into the United States of America.  This announcement is
not an offer of securities for sale into the United States.  The securities
referred to herein have not been and will not be registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold in the
United States, except pursuant to an applicable exemption from registration.
No public offering of securities is being made in the United States.

This announcement does not constitute an offer to sell, or the solicitation of
an offer to acquire or subscribe for, Ordinary Shares in any jurisdiction
where such offer or solicitation is unlawful or would impose any unfulfilled
registration, qualification, publication or approval requirements on the
Company. The offer and sale of Ordinary Shares has not been and will not be
registered under the applicable securities laws of Australia, Canada, the
Republic of South Africa or Japan. Subject to certain exemptions, the Ordinary
Shares may not be offered to or sold within Australia, Canada, the Republic of
South Africa or Japan or to any national, resident or citizen of Australia,
Canada, the Republic of South Africa or Japan.

This announcement does not constitute, or form part of, any offer or any
solicitation of an offer to subscribe for any shares or other securities, nor
shall it (or any part of it) or the fact of its dissemination form the basis
of, or be relied on in connection with, any contract with respect thereto.

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