REG - ValiRx PLC - Board Re-structuring and update on requisition

ValiRxAnnouncement

19/03/2024 07:00

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RNS Number : 3256H  ValiRx PLC  19 March 2024

19 March 2024

VALIRX PLC

("ValiRx" or the "Company")

Board Re-structuring and update on shareholder requisition

ValiRx plc (the "Company") (AIM: VAL), a life sciences company focusing on
early-stage cancer therapeutics and women's health, provides an update on the
planned board restructuring and shareholder requisition.

The Board is commencing an executive search to seek a Chief Executive Officer
to lead the next stage of growth of the Company.  The Company recognises the
highly specialised nature of this role and anticipates the required process to
identify the appropriate candidate may take a number of months, during which
period Dr Dilly will remain as Chief Executive Officer.  As part of the
re-structuring process, Dr Dilly and the Board will consider potential
alternative roles within the Company or Group.

In addition, Adrian de Courcey will join the ValiRx Board as a proposed
Non-Executive Director, subject to completion of regulatory due diligence and
Ray Horn will become a Board observer.

The Company announces that the Shareholder Requisition Notice to requisition a
General Meeting of the Company, as announced on 4 March 2024, has been
withdrawn and a General Meeting will not be convened.

Dr Suzy Dilly commented "I've been honoured to play a leading role in
establishing the new preclinically-focussed strategy for ValiRx in the period
since my appointment in 2020, and as the Company grows it is appropriate for
an individual with experience of leading larger companies is sought to better
serve the Company's needs.  I remain committed to serving the best interests
of our shareholders, our staff and collaborators, and will be available to
provide support both to the search and to the integration of the incoming team
members."

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the
European Union (Withdrawal) Act 2018 ("UK MAR"). The Directors of the Company
take responsibility for this announcement

 

For more information, please contact:

 

 ValiRx plc                                        Tel: +44 (0) 2476 796496

                                                   www.valirx.com (http://www.valirx.com)

 Dr Suzanne Dilly, CEO                             Suzanne.Dilly@valirx.com (mailto:Suzanne.Dilly@valirx.com)

 V Formation (Public Relations)                    +44 (0) 115 787 0206

                                                   www.vformation.biz (http://www.vformation.biz)

 Lucy Wharton - Senior PR Executive

 Sue Carr - Director                               lucy@vformation.biz

                                                   sue@vformation.biz
 Cairn Financial Advisers LLP (Nominated Adviser)  Tel: +44 (0) 20 7213 0880

 Liam Murray/Jo Turner/Ludovico Lazzaretti

 Shard Capital Partners LLP (Sole Broker)          Tel: +44 (0) 20 7186 9000

 Damon Heath

 

Notes for Editors

About ValiRx

ValiRx is a life science company focused on early-stage cancer therapeutics
and women's health, accelerating the translation of innovative science into
impactful medicines to improve patient lives.

ValiRx provides the scientific, financial, and commercial framework for
enabling rapid translation of innovative science into clinical development.

Using its extensive and proven experience in research and drug development,
the team at ValiRx selects and incubates promising novel drug candidates and
guides them through an optimised process of development, from pre-clinical
studies to clinic and investor-ready assets.

ValiRx connects diverse disciplines across scientific, technical, and
commercial domains, with the aim of achieving a more streamlined, less costly,
drug development process. The team works closely with carefully selected
collaborators and leverages the combined expertise required for science to
advance.

Lead candidates from ValiRx's portfolio are outlicensed or partnered with
investors through ValiRx subsidiary companies for further clinical development
and commercialisation.

ValiRx listed on the AIM Market of the London Stock Exchange in October 2006
and trades under the ticker symbol: VAL.

For further information, visit: www.valirx.com (http://www.valirx.com)

 

Cautionary statement

Certain statements made in this announcement are forward-looking statements.
Such statements are based on current expectations and assumptions and are
subject to a number of risks and uncertainties that could cause actual events
or results to differ materially from any expected future events or results
expressed or implied in these forward-looking statements. Persons receiving
this announcement should not place undue reliance on forward-looking
statements. Unless otherwise required by applicable law, regulation or
accounting standard, the Company does not undertake to update or revise any
forward-looking statements, whether as a result of new information, future
developments or otherwise.

 

 

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