Funding Update, Notice of AGM

Celadon Pharmaceuticals

06/06/2025 15:55

RNS Number : 8740L

Celadon Pharmaceuticals PLC

06 June 2025

 

Celadon Pharmaceuticals Plc

("Celadon", the "Group" or the "Company")

Funding Update

Notice of AGM

London, 6 June 2025 - Celadon Pharmaceuticals Plc (AIM: CEL), a UK-based pharmaceutical company focused on the development, production and sale of breakthrough cannabis-based medicines, provides an update on its financial position.

Funding Update

The Company announced on 30 May 2025 that in the event the Company cannot secure funds over the coming days, the directors would have to protect the interests of all stakeholders and the Company will be placed into administration.  

The Company continues to be engaged with a new finance provider who has concluded due diligence and who has indicated he is in the process of making funds available.

As of today, the Company continues to have limited working capital and its ability to continue to trade is fully dependent upon receiving funds from the new finance provider and continued creditor and stakeholder support. In the event the Company cannot secure funds during the course of the next week, the directors will have to protect the interests of all stakeholders and the Company will be placed into administration.

In the event funding for the Group is secured, the Company remains committed to proceeding with a cancellation of trading of the Company's ordinary shares on AIM.

Notice of Annual General Meeting

The Company's Annual General Meeting ("AGM") will be held at The Aston Tavern Hotel, 10 Aston Hall Road, Birmingham, B6 7FF on 30 June 2025 at 12 noon. The notice of AGM (the "Notice of AGM") will shortly be available from the Company's website at https://celadonpharma.com/meetings/ and posted to shareholders shortly, together with the form of proxy. In accordance with the Companies Act, the Company is required to hold an AGM within six months of the end of its financial year. A resolution to approve the Company's report & accounts will not be tabled as a resolution at the AGM.  

A further announcement will be made as and when appropriate.

 

Enquiries:

Celadon Pharmaceuticals Plc
James Short
Via Canaccord Genuity Limited
Canaccord Genuity Limited (Nominated Adviser and Broker)
Bobbie Hilliam / Andrew Potts
+44 (0)20 7523 8000
Global Investment Strategy UK Limited (Joint Broker)
James Sheehan
+44 (0)20 7048 9400


 

About Celadon Pharmaceuticals Plc

 

Celadon Pharmaceuticals Plc is a UK-based pharmaceutical company focused on the development, production and sale of breakthrough cannabis-based medicines. Its primary focus is on improving quality of life for chronic pain sufferers, as well as exploring the potential of cannabis-based medicines for other conditions such as autism. Its 100,000 sq. ft UK facility is EU-GMP approved and comprises indoor hydroponic cultivation, proprietary GMP extraction and an analytical and R&D laboratory. Celadon's Home Office licence allows for the commercial supply of its pharmaceutical-grade cannabis product. The Group owns an approved clinical trial using cannabis-based medicinal products to treat chronic pain in the UK. Celadon also has a minority interest in early-stage biopharma Kingdom Therapeutics, which is developing a licensed cannabinoid medicine to treat children with Autism Spectrum Disorder.

 

For further information please visit our website www.celadonpharma.com

 

This announcement contains inside information for the purposes of article 7 of the Market Abuse Regulation (EU) 596/2014 as amended by regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310. With the publication of this announcement, this information is now considered to be in the public domain.

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