Result of General Meeting & Directorate Change

ValiRx Plc

("ValiRx" or the "Company")

Result of General Meeting & Directorate Change

London, UK, 14 April 2020: ValiRx Plc (AIM: VAL), a clinical stage biotechnology company, announces that, further to the announcement made by the Company on 9 April 2020, the Company today convened the meeting with certain directors (who are also shareholders) present. The COVID-19 lockdown makes attendance of shareholders at the meeting impossible and the Board has been unable to find a suitable means of shareholders participating and voting during the lockdown.

The Board notes that shareholders have had the opportunity to vote their shares by proxy.

The Board regards its obligations to its shareholders and creditors as overriding any procedural difficulties that there may be in holding a meeting during the COVID-19 lockdown.

The Board regrets that shareholders were unable to attend in person due to the COVID-19 situation but by deciding the resolutions on a poll, the Board believes shareholders are being treated as fairly as possible in the circumstances. To act otherwise would be to disenfranchise those that voted by proxy prior to the COVID-19 lockdown. The Board notes that attendance at shareholders meetings by shareholders who have not already voted by proxy has historically been low.

The Company issued an announcement earlier today notifying that George Morris had tendered his resignation, which had been accepted by the board, consequently he is no longer a director of the Company and Resolution 1 has been withdrawn.

Resolution 2 (Ordinary Resolution - to remove Satu Vainikka as a director) was passed.  The poll results are set out below:-

As a consequence of the passing of the resolution, Satu Vainikka is no longer a director of the Company.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

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Notes for Editors

About ValiRx

ValiRx is a biotechnology oncology focused company specialising in developing novel treatments for cancer and associated biomarkers. It aims to make a significant contribution in "precision" medicine and science, namely to engineer a breakthrough into human health and well-being, through the early detection of cancer and its therapeutic intervention.

The Company's business model focuses on out-licensing therapeutic candidates early in the development process. By aiming for early-stage value creation, the company reduces risk considerably while increasing the potential for realising value. The group is already in licensing discussions with major players in the oncology field.

ValiRx's two classes of drugs in development, which each have the potential for meeting hitherto unmet medical needs by existing methods, have worldwide patent filings and agreed commercial rights.   They originate or derive from World class institutions, such as Cancer Research UK and Imperial College. 

Until recently, cancer treatments relied on non-specific agents, such as chemotherapy.  With the development of target-based agents, primed to attack cancer cells only, less toxic and more effective treatments are now possible. New drugs in this group-such as those in ValiRx's pipeline-promise to greatly improve outcomes for cancer patients.

The Company listed on the AIM Market of the London Stock Exchange in October 2006 and trades under the ticker symbol: VAL.