Restructuring

RNS Number : 3675U

Sareum Holdings PLC

14 May 2008

 



For immediate release

14 May 2008

SAREUM HOLDINGS PLC

("Sareum" or "the Company")

Restructuring

Sareum Holdings plc (AIM: SAR), the specialist structure-based drug discovery business, announces that, as part of the strategic review that was announced on 2 May 2008, the Company has implemented a staff restructuring process in order to reduce its cost base and prepare itself for any potential acquisition or re-financing whilst the future business strategy is determined.  As a result of this restructuring, Sareum's overall costs will be reduced by approximately one third. The Company's core capabilities will remain essentially unchanged and Sareum will still continue to deliver on its ongoing research service contracts and to progress its in-house cancer drug discovery programs. 

- Ends- 

For further information please contact: 

Sareum Holdings plc	01223 497700
Tim Mitchell, Chief Executive Officer
Buchanan Communications	020 7466 5000
Tim Anderson, Mary-Jane Johnson
Grant Thornton Corporate Finance	020 7383 5100
Philip Secrett, Colin Aaronson

 

END

 

 

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