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Celadon Pharmaceuticals Plc announced on 1 July 2025 that all seven resolutions at its Annual General Meeting, held yesterday, were passed by shareholders. This included the re-election of Alexander Anton with 59.95% "For" and James Short with 99.40% "For," and the reappointment of RSM UK Audit LLP as auditors with 99.49% "For." The Board noted Resolution 1, for Alexander Anton's re-election, received over 20% of votes against, and highlighted a low overall voter turnout against the Company's 68,845,807 issued ordinary shares.
| Date | 1 Jul 2025 |
| Time | 08:20:33 |
| Category | AGMs and other meetings |
| ID | 1723P |
1 July 2025
Celadon Pharmaceuticals Plc
("Celadon" or the "Company")
Result of Annual General Meeting
Celadon Pharmaceuticals Plc (AIM: CEL), a UK-based pharmaceutical company focused on the development, production and sale of breakthrough cannabis-based medicines, announces that at its Annual General Meeting held yesterday, all resolutions were duly passed.
Full details of the poll results are set out below.
|
Resolutions |
Number of votes "For" |
% of votes "For" |
Number of votes "Against" |
% of votes "Against" |
Number of votes "Withheld" |
|
|
1 |
To re-elect Alexander Anton as a Director |
1,380,743 |
59.95 |
922,517 |
40.05 |
78,362 |
|
2 |
To re-elect James Short as a Director |
2,362,865 |
99.40 |
14,265 |
0.60 |
4,492 |
|
3 |
To reappoint RSM UK Audit LLP as auditors |
1,459,118 |
99.49 |
7,412 |
0.51 |
915,092 |
|
4 |
To authorise the Audit Committee to fix the auditors remuneration |
1,457,467 |
99.32 |
9,923 |
0.68 |
914,232 |
|
5 |
To authorise the directors to allot shares (section 551 Companies Act 2006) |
1,453,992 |
98.99 |
14,886 |
1.01 |
912,744 |
|
6 |
Disapplication of pre-emption rights (section 570 Companies Act 2006) |
1,381,713 |
99.09 |
12,661 |
0.91 |
987,248 |
|
7 |
Disapplication of pre-emption rights (section 570 Companies Act 2006) - further disapplication |
1,095,930 |
98.46 |
17,176 |
1.54 |
1,268,516 |
The Board acknowledges that resolution 1 received over 20% of votes against. The Board notes the low turnout of shares that voted as a percentage of the Company's issued share capital of 68,845,807 ordinary shares. The board will engage with those shareholders that voted against the resolution to understand the reason behind the voting.
The Board also notes today's announcement by the Company regarding the entry into a debt facility and receipt of the £1.0 million of funds expected within three days, and that following receipt of such funds, the Company intends to proceed with a delisting.
The Board also notes Mr. Anton's previous statement in the Company's 24 March 2025 announcement, that he intends to review his position as Chairman of the Company following the result of the cancellation general meeting, and that in the event that the cancellation of trading of the Company's ordinary shares on AIM is approved, Mr. Anton anticipates he will resign from the board.
Enquiries:
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|
|
Celadon Pharmaceuticals Plc |
|
|
James Short |
Via Canaccord Genuity Limited |
|
Canaccord Genuity Limited (Nominated Adviser and Broker) |
|
|
Bobbie Hilliam / Andrew Potts
|
+44 (0)20 7523 8000
|
|
|
|
|
Global Investment Strategy UK Limited (Joint Broker) |
+44 (0)20 7048 9400 |
|
James Sheehan |
|
About Celadon Pharmaceuticals Plc
Celadon Pharmaceuticals Plc is a UK-based pharmaceutical company focused on the development, production and sale of breakthrough 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 is EU-GMP approved and comprises indoor hydroponic cultivation, proprietary GMP extraction and an analytical and R&D laboratory. Celadon's Home Office licence allows for the commercial supply of its pharmaceutical-grade cannabis product. The Group owns an approved clinical trial using cannabis-based medicinal products to treat chronic pain in the UK. Celadon also has a minority interest in early-stage biopharma Kingdom Therapeutics, which is developing a licensed cannabinoid medicine to treat children with Autism Spectrum Disorder.
For further information please visit our website www.celadonpharma.com