REG - Genedrive PLC - Result of General Meeting

GenedriveAnnouncement

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RNS Number : 5024D  Genedrive PLC  15 October 2025

 

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS
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DO SO MIGHT CONSTITUTE A VIOLATION OR BREACH OF ANY APPLICABLE LAW OR
REGULATION.

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN ARTICLE 7 OF
REGULATION (EU) NO 596/2014 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL OF
16 APRIL 2014 ON MARKET ABUSE (MARKET ABUSE REGULATION) AS RETAINED AS PART OF
UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 AS AMENDED.

 

UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW
CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

 

genedrive plc

("genedrive" or the "Company")

 

Result of General Meeting

 

genedrive plc (AIM: GDR), the point of care pharmacogenetic testing company,
announces that at the General Meeting, held today, none of the resolutions
were passed on a poll vote.

 

The resolutions were unanimously recommended to shareholders by the Board as
the Equity Financing was the only certain financing option available to the
Company.  As a result of the resolutions not being passed the Conditional
Placing and Retail Offer will not complete, and the Company does not have
authority to issue any warrants in connection with the Equity Financing
announced on 23 September 2025.

 

As highlighted in the Company's announcement of 6 October 2025, the Company
has funding through to the end of 2025, however the uncertainty that this vote
creates may impact negatively the Group's operations which, in the absence of
additional funding being made available, could accelerate the timeline on
which the Directors have to take action to protect the position of creditors.
 

 

Finally, whilst the Company continues to engage proactively with David Nugent,
a 15.1% shareholder in the Company (including via a limited company), there
has been no material change to the status of discussions with that
shareholder.

 

Further announcements will be made as required.

 

For information, details of poll voting are shown below:

 

 Resolution  Votes For (including those giving the Chair discretion)  Votes For              Votes Against  Votes Against          Vote Withheld

                                                                      (as % of votes cast)                  (as % of votes cast)

 1           124,342,285                                              39.9                   187,204,980    60.1                   34,384,955
 2           123,618,410                                              39.7                   187,928,855    60.3                   34,384,955
 3           123,890,904                                              39.8                   187,656,361    60.2                   34,384,955
 4           122,985,041                                              39.5                   188,562,224    60.5                   34,384,955

 

 

 

The full text of each of the resolutions is set out in the notice of General
Meeting, copies of which are available on the Company's website
(www.genedriveplc.com (http://www.genedriveplc.com/) ).

 

The Company's issued ordinary share capital remains 1,024,895,408 Ordinary
Shares. 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 in their interest in, the share capital of the
Company under the FCA's Disclosure Guidance and Transparency Rules.

 

Unless otherwise defined herein, capitalised terms used in this announcement
shall have the same meanings as defined in the applicable announcement of the
Fundraising made by the Company on 23 September 2025.

 

Dr Ian Gilham, Non-executive Chairman of genedrive plc, said: "Shareholders
have comprehensively voted against this financing proposal which would have
provided the Company with a cash runway through to Q2/Q3 2026 plus the
potential of further funding from the exercise of warrants.  In light of the
significant efforts that have already gone into raising additional funding
leading to this proposal the Company is cautious about the prospects of
securing further capital on terms more favorable to the deal which
necessitated this shareholder vote.  However the Board would continue to
welcome and encourage any alternative financing proposals from shareholders or
other interested parties that could support its ongoing growth and strategic
objectives."

 

 

For further details please contact:

 

Enquiries:

 

 genedrive plc                                                                        +44 (0) 161 989 0245
 Dr Gino Miele (CEO)

 Russ Shaw (CFO)

 Peel Hunt LLP - Nominated Adviser, Broker and Joint Bookrunner                                                              +44 (0) 20 7148 8900
 James Steel (Investment Banking)
 Sohail Akbar / Nicholas Wilks (ECM)

 Allenby Capital Limited - Joint Broker and Joint Bookrunner to the Placing           +44 (0)20 3394 2973

 Nick Athanas / Vivek Bhardwaj (Corporate Finance)                                    info@allenbycapital.com

 Amrit Nahal / Kelly Gardiner (Sales & Corporate Broking)

 Walbrook PR - Financial PR & IR Adviser      +44 (0) 20 7933 8780
 Anna Dunphy                                                                          or genedrive@walbrookpr.com

 

 
 

About genedrive plc (http://www.genedriveplc.com)

genedrive plc is a pharmacogenetic testing company developing and
commercialising a low cost, rapid, versatile and simple to use point of need
pharmacogenetic platform for the diagnosis of genetic variants. This helps
clinicians to quickly access key genetic information that will aid them make
the right choices over the right medicine or dosage to use for an effective
treatment, particularly important in time-critical emergency care healthcare
paradigms. Based in the UK, the Company is at the forefront of Point of Care
pharmacogenetic testing in emergency healthcare. Pharmacogenetics informs on
how your individual genetics impact a medicines ability to work for you.
Therefore, by using pharmacogenetics, medicine choices can be personalised,
made safer and more effective. The Company has launched its two flagship
products, the Genedrive® MT-RNR1 ID Kit and the Genedrive® CYP2C19 ID Kit,
both developed and validated in collaboration with NHS partners and deployed
on its point of care thermocycler platform. Both tests are single-use
disposable cartridges which are ambient temperature stable, circumventing the
requirement for cold chain logistics. The Directors believe the Genedrive®
MT-RNR1 ID Kit is a worlds-first and allows clinicians to make a decision on
antibiotic use in neonatal intensive care units within 26 minutes, ensuring
vital care is delivered, avoiding adverse effects potentially otherwise
encountered and with no negative impact on the patient care pathway. Its
CYP2C19 ID Kit which has no comparably positioned competitor currently allows
clinicians to make a decision on the use of Clopidogrel in stroke patients in
70 minutes, ensuring that patients who are unlikely to benefit from or suffer
adverse effects from Clopidogrel receive an alternative antiplatelet
therapeutic in a timely manner, ultimately improving outcomes. Both tests have
undergone review by the National Institute for Health and Care Clinical
Excellence ("NICE") and have been recommended for use in the UK NHS. The
Company has a clear commercial strategy focused on accelerating growth through
maximising in-market sales, geographic and portfolio expansion and strategic
M&A, and operates out of its facilities in Manchester.

 

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