REG - Sareum Holdings PLC - Issue of RiverFort Subscription Shares

Sareum HoldingsAnnouncement

09/04/2024 16:15

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RNS Number : 9094J  Sareum Holdings PLC  09 April 2024

Sareum Holdings plc

("Sareum" or the "Company")

 

Issue of RiverFort Subscription Shares

 

Cambridge, UK, 9 April 2024 - Sareum Holdings plc (AIM: SAR), a clinical-stage
biotechnology company developing next-generation kinase inhibitors for
autoimmune disease and cancer, announces that it has issued 2,900,000 new
Ordinary Shares in the capital of the Company to RiverFort Global
Opportunities PCC Ltd ("RiverFort"), in accordance with the terms of the
Facility as announced on 3 August 2023.

 

As announced on 3 August 2023, the Company entered into an Equity Prepayment
Facility with RiverFort (the "Facility"). The Company has drawn £2.3 million
to date pursuant to the Facility from two prepayment deposits. After this
issue of 2.9m shares to RiverFort, the Company now has an outstanding balance
of circa £0.8 million under the Facility. Any balances pursuant to the
Facility are not due for repayment until August 2025 (the "Maturity Date") and
the Company expects to settle all balances by the issuance of Subscription
Shares prior to the Maturity Date.

 

As noted in Sareum's RNS of 28 March 2024, the Company does not intend to make
any further withdrawals pursuant to the Facility with RiverFort.

 

Admission and Total Voting Rights

Application has been made to the London Stock Exchange plc for the admission
of 2,900,000 new Ordinary Shares to trading on AIM ("Admission"). It is
expected that Admission will occur at 8.00 a.m. (London time) on Friday 12
April 2024.

Immediately following Admission, the total number of Ordinary Shares in issue
will be 98,578,309 and the total number of voting rights will therefore be
98,578,309, and 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 share capital of the
Company under the FCA's Disclosure and Transparency Rules.

Terms and definitions used in this announcement shall have the same meaning as
ascribed to them in the Company's announcement dated 3 August 2023, unless
otherwise stated.

 

 

For Further Information:

 

 Sareum Holdings plc                              01223 497700

 Tim Mitchell, CEO                                ir@sareum.co.uk

 Lauren Williams, Head of Investor Relations

 Strand Hanson Limited (Nominated Adviser)        020 7409 3494

 James Dance / James Bellman

 Peel Hunt LLP (Joint Corporate Broker)           020 7418 8900
 James Steel / Patrick Birkholm

 Hybridan LLP (Joint Corporate Broker)            020 3764 2341

 Claire Noyce

 ICR Consilium (Financial PR)                     0203 709 5700

 Jessica Hodgson / Davide Salvi / Kumail Waljee

 

 

About Sareum

 

Sareum Holdings (AIM:SAR) is a clinical-stage biotechnology company developing
next generation kinase inhibitors for autoimmune disease and cancer.

 

The Company is focused on developing next generation small molecules which
modify the activity of the JAK kinase family and have best-in-class potential.
Its lead candidate, SDC-1801, simultaneously inhibits TYK2 and JAK1. SDC-1801
is a potential treatment for a range of autoimmune diseases and has entered
Phase 1a/b clinical development with an initial focus on psoriasis.

 

Sareum is also developing SDC-1802, a TYK2/JAK1 inhibitor with a potential
application for cancer immunotherapy.

 

Sareum Holdings plc is based in Cambridge, UK, and is listed on the AIM market
of the London Stock Exchange, trading under the ticker SAR. For further
information, please visit the Company's website at www.sareum.com
(http://www.sareum.com)

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