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Destiny Pharma plc shareholders passed all resolutions at a General Meeting held on 31 July 2024. The resolutions included the cancellation of admission to trading on AIM, which passed with 87.82% of votes cast, and the company's re-registration as a private limited company. The AIM delisting is expected at 7.00 a.m. on 13 August 2024, with re-registration expected on or around 30 August 2024.
| Date | 31 Jul 2024 |
| Time | 11:00:05 |
| Category | AGMs and other meetings |
| ID | 5920Y |
Destiny Pharma plc
("Destiny Pharma" or "the Company")
Result of General Meeting and Cancellation of Admission to Trading on AIM
Brighton, United Kingdom - 31 July 2024 - Destiny Pharma (AIM: DEST), a clinical stage biotechnology company focused on the development and commercialisation of novel medicines to prevent and cure life threatening infections, announces that, at the general meeting of the Company held earlier today (the "General Meeting"), all resolutions put to the Company's shareholders ("Shareholders") were duly passed.
The table below sets out the details of the votes put to Shareholders:
|
Special Resolution Number |
Special Resolution Name |
Votes for |
Votes Against |
Votes Withheld* |
Total Votes Cast (excl. withheld) |
||
|
No. of shares |
% of shares voted |
No. of shares |
% of shares voted |
No. of shares |
|||
|
1 |
Cancellation Resolution |
36,177,977 |
87.82% |
5,016,137 |
12.18% |
48,982 |
41,194,114 |
|
2 |
Re-registration Resolution |
36,329,435 |
88.19% |
4,864,679 |
11.81% |
48,982 |
41,194,114 |
|
3 |
Adoption of New Articles of Association Resolution |
36,183,961 |
87.84% |
5,010,153 |
12.16% |
48,982 |
41,194,114 |
*A vote withheld is not a vote in law and is not counted in the calculation of the proportion of votes 'For' or 'Against'
In accordance with the passing of Resolutions 2 and 3, the Company will re-register as a private limited company with the name Destiny Pharma Limited and adopt new articles of association, which is expected to take place on or around 30 August 2024.
The full text of the resolutions proposed and passed at the General Meeting can be found in the circular containing, inter alia, the Notice of General Meeting, which was published and posted to Shareholders on 15 July 2024 and is available on the Company's website www.destinypharma.com (the "Circular").
AIM Delisting
Following approval by Shareholders at the General Meeting, the admission of the ordinary shares of 1 pence each in the capital of the Company (the "Ordinary Shares") to trading on AIM will be cancelled (the "AIM Delisting"). The AIM Delisting is expected to take place at 7.00 a.m. on 13 August 2024 and, accordingly, the last day of dealings in Ordinary Shares on AIM is expected to be 12 August 2024.
Matched Bargain Facility
It remains the Company's intention to provide a matched bargain facility to assist Shareholders wishing to trade in Ordinary Shares following the AIM Delisting. Further details with respect to the matched bargain facility, to be provided by J P Jenkins, will be made available in due course on the Company's website www.destinypharma.com.
Capitalised terms used but not defined in this announcement shall have the same meaning given to such terms in the Circular.
For further information, please contact:
Destiny Pharma plc
Chris Tovey, CEO
Shaun Claydon, CFO
+44 (0)1273 704 440
FTI Consulting
Ben Atwell / Simon Conway
+44 (0) 203 727 1000
Shore Capital (Nominated Adviser and Broker)
Daniel Bush / James Thomas / Lucy Bowden
+44 (0) 207 408 4090
About Destiny Pharma
Destiny Pharma is an innovative, clinical-stage biotechnology company focused on the development and commercialisation of novel medicines that can prevent life-threatening infections. The Company's drug development pipeline includes two late-stage assets XF-73 Nasal gel, a proprietary drug targeting the prevention of post-surgical staphylococcal hospital infections including MRSA and NTCD-M3, a microbiome-based biotherapeutic for the prevention of C. difficile infection (CDI) recurrence which is the leading cause of hospital acquired infection in the US.
For further information on the company, please visit www.destinypharma.com