Sareum Holdings completes £1.44-million placing

1 minute read
01 May 2015

On 28 May 2015, Sareum Holdings plc announced that it had raised £1,443,500, before expenses, by way of a placing by Hybridan LLP (as broker) and WH Ireland Limited (as nomad) of 577,400,000 new ordinary shares of 0.025p each in the capital of Sareum at 0.25p per share.

The net proceeds of the placing will be used to progress Sareum's drug development programmes as well as for working capital purposes.

Application will be made to the London Stock Exchange for the placing shares to be admitted to trading on AIM and it is expected that admission will become effective and trading will commence on 11 June 2015. The placing shares will rank pari passu with the existing ordinary shares of the Company.

The firm was counsel to Hybridan and WH Ireland in this placing with a team that included Sefton Collett and Susan Johnston.

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