(AIM: SAR)                                                                                                                                          17 December 2019

 

Sareum Holdings plc

("Sareum" or the “Company")

Results of AGM

Sareum Holdings plc (AIM: SAR), the specialist cancer drug discovery and development business, advises that it held its Annual General Meeting (“AGM”) today and all resolutions were duly passed on a poll. Details of the proxy voting are shown in the table below.

In addition, the Board of Directors confirmed at the AGM, that all executive and non-executive directors had entered into a salary deferral scheme, whereby 33% of directors’ salaries are being deferred until further notice, as part of the Company’s efforts to maximise its cash resources.

 

Ordinary resolutions

Votes For

%

Votes Against

%

Votes Total

% of ISC Voted

Votes Withheld

 

 

 

 

 

 

 

 

1. Receive the Annual report and accounts for the Company

339,577,999

99.65

1,187,470

0.35

340,765,469

11.09%

2,191,331

2. Approve the Directors' Remuneration Report

327,161,863

95.45

15,603,606

4.55

342,765,469

11.16%

191,331

3. Re-elect Dr John Reader as a director

339,084,553

99.45

1,872,247

0.55

340,956,800

11.10%

2,000,000

4. Appoint Shipleys LLP as auditor

340,472,792

99.86

484,008

0.14

340,956,800

11.10%

2,000,000

5. Directors' authority to allot new shares

301,404,835

88.77

38,112,158

11.23

339,516,993

11.05%

3,439,807

 Special Resolution

 

 

 

 

 

 

 

6. Disapplication of pre-emption rights

298,109,670

87.51

42,545,299

12.49

340,654,969

11.09%

2,301,831

ISC - Issued Share Capital

The full text of each of the resolutions is set out in the Notice of AGM, available on the Company's website (www.sareum.com)

This announcement contains inside information for the purposes of the market abuse regulation (EU No. 596/2014) (“MAR”).

For further information, please contact: 

Sareum Holdings plc

 

Tim Mitchell

01223 497 700

Strand Hanson Limited (Nominated Adviser)

James Dance / Richard Tulloch

020 7409 3494

Hybridan LLP (Nominated Broker)

Claire Noyce / John Beresford-Peirse

020 3764 2341

Citigate Dewe Rogerson (Media enquiries)

Mark Swallow / David Dible

020 7638 9571

 

Notes for editors:

Sareum is a specialist drug development company delivering targeted small molecule therapeutics to improve the treatment of cancer and autoimmune disease. The Company aims to generate value through licensing its candidates to international pharmaceutical and biotechnology companies at the preclinical or early clinical trials stage.

Sareum is advancing internal programmes focused on distinct dual tyrosine kinase 2 (TYK2) / Janus kinase 1 (JAK1) inhibitors through preclinical development as therapies for autoimmune diseases (SDC-1801) and cancers (SDC-1802). The Company is targeting first human clinical trials in each indication in 2020.

Sareum also has an economic interest in SRA737, a clinical-stage oral, selective Checkpoint kinase 1 (Chk1) inhibitor that targets cancer cell replication and DNA damage repair mechanisms. Preliminary data suggest SRA737 may have broad application in combination with other oncology and immune-oncology drugs in genetically defined patients. SRA737 was discovered and initially developed by scientists at The Institute of Cancer Research in collaboration with Sareum, and with funding from Cancer Research UK. SRA737 was licensed by CRT Pioneer Fund (CPF) to Sierra Oncology, in a $328.5m plus royalties licence deal, with Sareum eligible to receive 27.5% of all payments to CPF under the agreement.

Sareum Holdings plc 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.

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