REG - Celadon Pharma. PLC - Result of AGM

Celadon PharmaceuticalsAnnouncement

01/07/2025 08:30

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250701:nRSA1723Pa&default-theme=true

RNS Number : 1723P  Celadon Pharmaceuticals PLC  01 July 2025

1 July 2025

 

Celadon Pharmaceuticals Plc

("Celadon" or the "Company")

Result of Annual General Meeting

Celadon Pharmaceuticals Plc (AIM: CEL), a UK-based pharmaceutical company
focused on the development, production and sale of breakthrough cannabis-based
medicines, announces that at its Annual General Meeting held yesterday, all
resolutions were duly passed.

Full details of the poll results are set out below.

 

 Resolutions                                                                          Number of votes "For"  % of votes "For"  Number of votes "Against"  % of votes "Against"  Number of votes "Withheld"
 1       To re-elect Alexander Anton as a Director                                    1,380,743              59.95             922,517                    40.05                 78,362
 2       To re-elect James Short as a Director                                        2,362,865              99.40             14,265                     0.60                  4,492
 3       To reappoint RSM UK Audit LLP as auditors                                    1,459,118              99.49             7,412                      0.51                  915,092
 4       To authorise the Audit Committee to fix the auditors remuneration            1,457,467              99.32             9,923                      0.68                  914,232
 5       To authorise the directors to allot shares (section 551 Companies Act 2006)  1,453,992              98.99             14,886                     1.01                  912,744
 6       Disapplication of pre-emption rights (section 570 Companies Act 2006)        1,381,713              99.09             12,661                     0.91                  987,248
 7       Disapplication of pre-emption rights (section 570 Companies Act 2006) -      1,095,930              98.46             17,176                     1.54                  1,268,516
         further disapplication

 

The Board acknowledges that resolution 1 received over 20% of votes against.
The Board notes the low turnout of shares that voted as a percentage of the
Company's issued share capital of 68,845,807 ordinary shares. The board will
engage with those shareholders that voted against the resolution to understand
the reason behind the voting.

The Board also notes today's announcement by the Company regarding the entry
into a debt facility and receipt of the £1.0 million of funds expected within
three days, and that following receipt of such funds, the Company intends to
proceed with a delisting.

The Board also notes Mr. Anton's previous statement in the Company's 24 March
2025 announcement, that he intends to review his position as Chairman of the
Company following the result of the cancellation general meeting, and that in
the event that the cancellation of trading of the Company's ordinary shares on
AIM is approved, Mr. Anton anticipates he will resign from the board.

 

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)      +44 (0)20 7048 9400
 James Sheehan

 

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
(http://www.celadonpharma.com)

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  RAGPKDBDOBKKFOK