Celadon Pharmaceuticals PLC Appointment of Tessera Investment Management (9631T)
July 28 2022 - 1:00AM
UK Regulatory
TIDMCEL
RNS Number : 9631T
Celadon Pharmaceuticals PLC
28 July 2022
Celadon Pharmaceuticals Plc
("Celadon", the "Company" or the "Group")
Appointment of Tessera Investment Management
London, UK, 28 July 2022: Celadon Pharmaceuticals Plc (AIM:
CEL), a UK-based pharmaceutical company focused on the development
and supply of natural, cannabis-based medicines, confirms that it
has reappointed Tessera Investment Management Limited ("Tessera")
as a strategic adviser to the Group (the "Appointment").
Tessera's original strategic advisory mandate with the Company
commenced on 15 January 2021 and concluded on the successful
listing of Celadon on 28 March 2022. Under the terms of the new
strategic advisory agreement, Tessera shall continue to provide
general corporate and strategic advice to the Company on the basis
of four days of support per month for a fixed monthly retainer of
GBP5,000 (plus VAT). Tony Morris, a former Director of the Company,
is a director and shareholder of Tessera, and Katie Long, the
Company's Chief Financial Officer, is also a director and
shareholder of Tessera.
The Appointment constitutes a related party transaction pursuant
to Rule 13 of the AIM Rules for Companies.
The Company's Directors (other than Katie Long) consider, having
consulted with Celadon's Nominated Adviser, Canaccord Genuity
Limited, that the terms of the Appointment are fair and reasonable
insofar as the shareholders of the Company are concerned.
Enquiries:
Celadon Pharmaceuticals Plc
James Short Via Powerscourt
Arthur Wakeley
Canaccord Genuity Limited (Nominated
Adviser and Broker)
Andrew Potts / Patrick Dolaghan +44 (0) 20 7523 8000
Powerscourt Group
Sarah MacLeod / Nick Johnson / Sam Austrums +44 (0) 20 7250 1446
/ celadon@powerscourt-group.com
Ibrahim Khalil
About Celadon Pharmaceuticals Plc
Celadon Pharmaceuticals Plc is a UK based pharmaceutical company
focused on the research, cultivation, manufacturing, and supply of
natural cannabis-based medicines. Its primary focus is on improving
quality of life for chronic pain sufferers, as well as exploring
the potential of cannabis-based medicines for other conditions such
as autism. Its 100,000 sq ft UK facility comprises a laboratory
designed to meet GMP standards, and capacity for a large indoor
hydroponic growing facility that has received a Home Office Licence
for the legal cultivation of high-THC medicinal cannabis for the
purpose of producing test batches of cannabis oil to support its
application to the MHRA. The Company's subsidiary, LVL, owns an
MHRA conditionally approved cannabis trial using cannabis based
medicinal products to treat chronic pain in the UK.
For further information please visit our website
www.celadonpharma.com
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