SUMM Summit Therapeutics Plc

 
TIDMSUMM 
 
   Summit Therapeutics plc 
 
   ("Summit Therapeutics" or the "Company") 
 
   Timetable update for the proposed Subscription and Placing 
 
   Oxford, UK, and Cambridge, MA, US, 19 December 2019 - Summit 
Therapeutics plc (AIM: SUMM, NASDAQ: SMMT), a leader in antibiotic 
innovation, announces that, further to the announcement made on 6 
December 2019 regarding a fundraising of approximately $50 million 
through a subscription and placing of new ordinary shares and warrants 
to existing investors, the expected date of Admission and commencement 
of dealings in the New Ordinary Shares on AIM has been changed from 8.00 
a.m. on 30 December 2019 to 8.00 a.m. 24 December 2019. 
 
   The Fundraising requires approval by Shareholders at the General Meeting 
of the Company to be held on 23 December 2019. A further announcement 
will be made following the conclusion of that meeting. 
 
   Capitalised terms in this announcement have the same meanings as in the 
Circular issued by the Company on 6 December 2019. 
 
   This announcement contains inside information for the purposes of 
Article 7 of EU Regulation 596/2014. The person responsible for 
arranging for the release of this announcement on behalf of the Company 
is Richard Pye, Vice President, Investor Relations and Corporate 
Affairs. 
 
   About Summit Therapeutics 
 
   Summit Therapeutics is a leader in antibiotic innovation. Our new 
mechanism antibiotics are designed to become the new standards of care 
for the benefit of patients and create value for payors and healthcare 
providers. We are currently developing new mechanism antibiotics to 
treat infections caused by C. difficile, N. gonorrhoeae and 
Enterobacteriaceae and are using our proprietary Discuva Platform to 
expand our pipeline. For more information, visit www.summitplc.com and 
follow us on Twitter @summitplc. 
 
   For more information, please contact: 
 
 
 
 
Summit 
Glyn Edwards / Richard Pye (UK office)             Tel:               44 (0)1235 443 951 
Michelle Avery (US office)                                               +1 617 225 4455 
 
Cairn Financial Advisers LLP (Nominated Adviser)   Tel:              +44 (0)20 7213 0880 
Liam Murray / Tony Rawlinson / Ludovico 
Lazzaretti 
 
N+1 Singer (Joint Broker)                          Tel:              +44 (0)20 7496 3000 
Aubrey Powell / George Tzimas, Corporate Finance 
 Tom Salvesen, Corporate Broking 
 
Bryan Garnier & Co Limited (Joint Broker)          Tel:              +44 (0)20 7332 2500 
Phil Walker / Dominic Wilson 
 
MSL Group (US)                                     Tel:                  +1 781 684 6552 
                                                              mailto:summit@mslgroup.com 
Erin Anthoine                                                        summit@mslgroup.com 
                                                          ------------------------------ 
 
Consilium Strategic Communications (UK)            Tel:              +44 (0)20 3709 5700 
Mary-Jane Elliott / Sue Stuart /                          mailto:summit@consilium-comms. 
 Sukaina Virji / Lindsey Neville                          com 
                                                          summit@consilium-comms.com 
                                                          ------------------------------ 
 
   Forward Looking Statements 
 
   Any statements in this press release about the Company's future 
expectations, plans and prospects, including but not limited to, whether 
or not the Company will consummate the Fundraising, the restructuring of 
the board of directors, the AIM Delisting, the trading markets for the 
Company's ordinary shares and ADSs, statements about the potential 
benefits and future operation of the BARDA or CARB-X contract, including 
any potential future payments thereunder, the clinical and preclinical 
development of the Company's product candidates, the therapeutic 
potential of the Company's product candidates, the potential of the 
Discuva Platform, the potential commercialisation of the Company's 
product candidates, the sufficiency of the Company's cash resources, the 
timing of initiation, completion and availability of data from clinical 
trials, the potential submission of applications for marketing approvals 
and other statements containing the words "anticipate," "believe," 
"continue," "could," "estimate," "expect," "intend," "may," "plan," 
"potential," "predict," "project," "should," "target," "would," and 
similar expressions, constitute forward-looking statements within the 
meaning of The Private Securities Litigation Reform Act of 1995. Actual 
results may differ materially from those indicated by such 
forward-looking statements as a result of various important factors, 
including: the risk that the Company's shareholders do not approve the 
Fundraising and AIM Delisting, the risk that other closing conditions to 
the Fundraising are not satisfied, the ability of BARDA or CARB-X to 
terminate the Company's contract for convenience at any time, the 
uncertainties inherent in the initiation of future clinical trials, 
availability and timing of data from ongoing and future preclinical 
studies and clinical trials and the results of such preclinical studies 
and clinical trials, whether preliminary results from a clinical trial 
will be predictive of the final results of that trial or whether results 
of early clinical trials or preclinical studies will be indicative of 
the results of later clinical trials, expectations for regulatory 
approvals, laws and regulations affecting government contracts, 
availability of funding sufficient for the Company's foreseeable and 
unforeseeable operating expenses and capital expenditure requirements 
and other factors discussed in the "Risk Factors" section of filings 
that the Company makes with the Securities and Exchange Commission, 
including the Company's Annual Report on Form 20-F for the fiscal year 
ended 31 January 2019. Accordingly, readers should not place undue 
reliance on forward-looking statements or information. In addition, any 
forward-looking statements included in this press release represent the 
Company's views only as of the date of this release and should not be 
relied upon as representing the Company's views as of any subsequent 
date. The Company specifically disclaims any obligation to update any 
forward-looking statements included in this press release. 
 
   -END- 
 
 
 
 
 
 
 
 

(END) Dow Jones Newswires

December 19, 2019 02:00 ET (07:00 GMT)

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