Distribution to Unsecured Creditors

RNS Number : 8925O

Redx Pharma plc

24 August 2017

 

24 August 2017

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION. UPON THE PUBLICATION OF THE ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

REDX PHARMA PLC (in administration)

("Redx" or "the Company")

Permission granted for distribution to Unsecured Creditors

Redx, the drug discovery and development company, announces that Jason Baker and Miles Needham of FRP Advisory LLP, joint administrators of the Company and of its subsidiary, Redx Oncology Limited ("Oncology") (together, the "Companies") have been granted permission by the High Court to make a distribution to unsecured creditors of the Companies.  The Joint Administrators will shortly be sending unsecured creditors notices of intended dividend, following which claims will be adjudicated and distributions made.  All unsecured creditors will be paid in full (subject to adjudication).  This is a significant step towards the anticipated rescue of the Companies as going concerns and the termination of the Administrations.  A PDF copy of the Order is attached to this notice.

Click on, or paste the following link into your web browser, to view the associated PDF document.

http://www.rns-pdf.londonstockexchange.com/rns/8925O_-2017-8-24.pdf

For further information, please contact:

Redx Pharma Plc (in administration)
Contact for the Joint Administrators: Chris French James Rossiter	T: + 44 203 005 4000
Cantor Fitzgerald Europe (Nomad & Broker)	T: [phone]
Phil Davies
WG Partners LLP (Joint Broker)	T: [phone]
Claes Spång/ Chris Lee/ David Wilson

About Redx Pharma Plc (in administration)

Company website: redxpharma.com

Jason Baker and Miles Needham have been appointed as joint administrators of Redx Pharma plc (in administration). The company's affairs, business and property are being managed by the joint administrators.

Redx is focused on the discovery and development of proprietary, small molecule therapeutics to address areas of high, unmet medical need, principally in cancer, infection and immunology, providing a pipeline of assets to larger and emerging companies. By improving the characteristics of existing drug classes to create highly differentiated, novel, best-in-class drugs, Redx has already established a broad portfolio of proprietary drug programs.

 

END

 

 

MSCPIMPTMBJTMPR