TIDMSAR
RNS Number : 3960D
Sareum Holdings PLC
25 June 2019
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014.
THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY, AND DOES
NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR
ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE
FOR, ANY SECURITIES OF SAREUM HOLDINGS PLC.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO
ANY PERSON LOCATED OR RESIDENT IN, ANY JURISDICTION WHERE IT IS
UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT.
THIS ANNOUNCEMENT AMOUNTS TO A FINANCIAL PROMOTION FOR THE
PURPOSES OF SECTION 21 OF THE FINANCIAL SERVICES AND MARKETS ACT
2000 ("FSMA") AND HAS BEEN APPROVED BY PRIMARYBID LIMITED WHICH IS
AUTHORISED AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY (FRN
779021)
(AIM: SAR) 25 June 2019
Sareum Holdings Plc
("Sareum" or the "Company")
PrimaryBid.com Offer
Sareum Holdings PLC (AIM: SAR), the specialist small molecule
drug development business, is pleased to announce an offer via
PrimaryBid (the "Offer") by the issue and allotment of new ordinary
shares of 0.025 pence each in the Company ("New Ordinary Shares")
at an issue price of 0.4 pence per New Ordinary Share (the "Issue
Price"), being a discount of 27.3% per cent to the closing
mid-price on 24 June 2019.
Please refer to the announcement made by the Company earlier
today regarding the issue of Placing Shares to progress proprietary
TYK2/JAK1 drug development programmes in preclinical
development.
Offer
The Company values its retail investor base and is therefore
pleased to provide private and other investors the opportunity to
participate in the Offer by applying exclusively through the
www.PrimaryBid.com platform and the PrimaryBid mobile app available
on the Apple App Store and Google Play. PrimaryBid does not charge
investors any commission for this service.
The Offer, via the PrimaryBid.com platform, will be open to
individual and institutional investors from 4.31 p.m. on 25 June
2019 to 9.00 p.m. on 25 June 2019.
Subscriptions under the Offer will be considered by the Company
on a "first come, first served" basis, subject to conditions (which
are available to view on PrimaryBid.com).
The Company has applied for and received advance assurance from
HMRC that the Placing Shares (as defined in the previous
announcement) and the New Ordinary Shares will satisfy the
requirements for EIS relief.
The continuing status of the Ordinary Shares as qualifying for
EIS relief will be conditional (amongst other things) on the
qualifying conditions being satisfied, both by the Company and (as
regards those conditions to be met by the investor) the investor
throughout a period of at least three years from the date of issue.
There can be no assurance that the Company will continue to conduct
its activities in a way that will secure or retain qualifying
status for EIS purposes (and indeed circumstances may arise where
the directors of the Company believe that the interests of the
Company are not served by seeking to retain such status).
Investors considering taking advantage of EIS relief are
recommended to seek their own professional advice before investing
in order that they may fully understand how the relief legislation
may apply in their individual circumstances. Any person who is in
any doubt as to his taxation position under the EIS legislation, or
who is subject to tax in a jurisdiction other than the UK, should
consult an appropriate professional adviser.
No commission is charged to investors on applications to
participate in the Offer made through PrimaryBid. It is vital to
note that once an application for New Ordinary Shares has been made
and accepted via PrimaryBid, an application cannot be
withdrawn.
For further information on PrimaryBid.com or the procedure for
applications under the Offer, visit www.PrimaryBid.com or call
PrimaryBid.com on +44 20 3026 4750.
The New Ordinary Shares will be issued free of all liens,
charges and encumbrances and will, when issued and fully paid, rank
pari passu in all respects with the Company's existing Ordinary
Shares.
For further information, please contact:
Sareum Holdings plc
Tim Mitchell 01223 497 700
PrimaryBid Limited
Kieran D'Silva 020 3026 4750
WH Ireland Limited (Nominated Adviser)
Chris Fielding / James Sinclair-Ford 020 7220 1666
Hybridan LLP (Nominated Broker)
Claire Noyce 020 3764 2341
Citigate Dewe Rogerson (Media enquiries)
Shabnam Bashir/ Mark Swallow/ David
Dible 020 7638 9571
Details of the Offer
The Company highly values its retail investor base which has
supported the Company alongside institutional investors over
several years. Given the longstanding support of retail
shareholders, the Company believes that it is appropriate to
provide retail and other interested investors the opportunity to
participate in the Offer. The Company is therefore making the Offer
available exclusively through PrimaryBid.com.
Retail and other investors may participate in the Offer of New
Ordinary Shares on a first come, first served basis, exclusively
through PrimaryBid.com.
The Offer is offered under the exemptions against the need for a
prospectus allowed under the Prospectus Rules. As such, there is no
need for publication of a prospectus pursuant to the Prospectus
Rules, or for approval of the same by the Financial Conduct
Authority in its capacity as the UK Listing Authority. The Offer is
not being made into any Restricted Jurisdiction or any other
jurisdiction where it would be unlawful to do so.
There is a minimum subscription of GBP100 per investor under the
terms of the Offer which is open to existing shareholders and other
investors subscribing via PrimaryBid.com. This allocation will be
filled on a "first come first served" basis.
For further details please refer to the PrimaryBid.com website
at www.PrimaryBid.com. The terms and conditions on which the Offer
is made, including the procedure for application and payment for
New Ordinary Shares, is available to all persons who register with
PrimaryBid.com.
Investors should make their own investigations into the merits
of an investment in the Company. Nothing in this announcement
amounts to a recommendation to invest in the Company or amounts to
investment, taxation or legal advice.
It should be noted that a subscription for New Ordinary Shares
and investment in the Company carries a number of risks. Investors
should consider the risk factors set out on PrimaryBid.com before
making a decision to subscribe for New Ordinary Shares. Investors
should take independent advice from a person experienced in
advising on investment in securities such as the New Ordinary
Shares if they are in any doubt.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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