Statement re Future Board Changes
Summit Corporation plc
('Summit' or 'the Company')
COMPANY UPDATE: FUTURE BOARD CHANGES
Oxford, UK, 16 April 2012, Summit (AIM: SUMM), a UK drug discovery company, today announces that it intends to make changes to the Board of Directors to provide additional commercial focus for the Company as it enters an important stage in its future growth and development.
The growth and development of Summit will focus on advancing three key programmes through to important scientific milestones over the next 12 months. The programmes target Duchenne Muscular Dystrophy, C. difficile infection and Alzheimer's disease and related dementias, with positive data expected to significantly enhance the respective value of each asset and subsequently to increase the opportunity of being able to secure a transformational commercial agreement. Summit is seeking the support of shareholders at the forthcoming General Meeting to secure the funds required to implement these plans.
The Company will endeavour to announce any changes to the Board in advance of the Company's Annual General Meeting, which is expected to be held in the summer.
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For more information, please contact:
Glyn Edwards / Richard Pye
| Tel: +44 (0)1235 443 939 |
|Singer Capital Markets |
(Nominated Adviser and Joint broker)
Shaun Dobson / Claes Spång
Tel: +44 (0)203 205 7500
Claire Louise Noyce / Deepak Reddy
Tel: +44 (0)207 947 4350
(Financial public relations)
Tel: +44 (0)7879 458 364
Notes to Editors
Summit is an Oxford, UK based drug discovery Company with an innovative Seglin(TM) technology platform for the discovery of new medicines and a portfolio of drug programme assets. Summit's programme portfolio consists of a number of drug programmes targeting high-value areas of unmet medical need including Duchenne Muscular Dystrophy and C. difficile infection. Summit is listed on the AIM market of the London Stock Exchange and trades under the ticker symbol SUMM. Further information is available at www.summitplc.com.
Forward Looking Statements
This document contains "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as "anticipates", "intends", "plans", "seeks", "believes", "estimates", "expects" and similar references to future periods, or by the inclusion of forecasts or projections. Forward-looking statements are based on the Company's current expectations and assumptions regarding our business, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. The Company's actual results may differ materially from those contemplated by the forward-looking statements. The Company cautions you therefore that you should not rely on any of these forward-looking statements as statements of historical fact or as guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements and regional, national, global political, economic, business, competitive, market and regulatory conditions.
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Source: Summit Corporation PLC via Thomson Reuters ONE