14 May 2008

 

 

SAREUM HOLDINGS PLC

(“Sareum” or “the Company”)

Restructuring

Sareum Holdings plc (AIM: SAR), the specialist structure-based drug discovery business, announces that, as part of the strategic review that was announced on 2 May 2008, the Company has implemented a staff restructuring process in order to reduce its cost base and prepare itself for any potential acquisition or re-financing whilst the future business strategy is determined.  As a result of this restructuring, Sareum’s overall costs will be reduced by approximately one third. The Company’s core capabilities will remain essentially unchanged and Sareum will still continue to deliver on its ongoing research service contracts and to progress its in-house cancer drug discovery programs.

 

- Ends-

 

For further information please contact:

 

Sareum Holdings plc

01223 497700

Tim Mitchell, Chief Executive Officer

 

Buchanan Communications

020 7466 5000

Tim Anderson, Mary-Jane Johnson

 

Grant Thornton Corporate Finance

020 7383 5100

Philip Secrett, Colin Aaronson