Update on Suspension of Trading

RNS Number : 8141I

Redx Pharma plc

22 June 2017

 

22 June 2017

REDX PHARMA PLC (in administration)

("Redx" or "the Company")

Update on Suspension of Trading

Redx, the drug discovery and development company, is today providing an update on developments since the announcement of the suspension of its shares from trading on the AIM market of the London Stock Exchange and the appointment of Jason Baker and Miles Needham of FRP Advisory LLP as joint administrators (the "Joint Administrators") on 24 May 2017.

The Joint Administrators are working with the Company's advisers on proposals to rescue Redx and return the Company to the control of its directors, with the intention of lifting the suspension and restoring trading in the ordinary shares. 

Discussions regarding these proposals are at a relatively early stage and there can be no guarantee that these will be concluded successfully in the short term.

A further announcement will be made in due course, as and when appropriate.

For further information, please contact:

Redx Pharma Plc (in administration)
Contact for the Joint Administrators: James Rossiter (Morgan Rossiter)	T: + 44 203 195 3240
Cantor Fitzgerald Europe (Nomad & Broker)	T: [phone]
Phil Davies/ Michael Reynolds
WG Partners LLP (Joint Broker)	T: [phone]
Claes Spång/ Chris Lee/ David Wilson

About Redx Pharma Plc (in administration)

Company website: redxpharma.com

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.

 

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