Summit Corporation PLC : Completion of First Placing

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March 03, 2014 09:00 ET

Summit Therapeutics plc

Summit Therapeutics plc

Summit Corporation plc

('Summit' or the 'Company')

COMPLETION OF FIRST PLACING

Oxford, UK, 3 March 2014 - Summit (AIM: SUMM), a drug discovery and development company advancing therapies for Duchenne Muscular Dystrophy and C. difficile infection, announced on 28 February 2014 that it had gained shareholder approval to raise £22.0 million through the issue of new ordinary shares of 1 penny each ('New Shares'). Admission to trading on AIM of the New Shares will take place in two stages (the 'First Placing' and the 'Second Placing').

The Company today announces that the First Placing of 48,717,940 New Shares has been completed following admission of these shares to trading on AIM.

Following this First Placing, the issued share capital of the Company is 531,484,626. This may be used by shareholders as a denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in, the Company, under the Disclosure and Transparency Rules.

The Company has today issued and allotted a further 289,743,600 New Shares to effect the Second Placing. Application has been made to admit the 289,743,600 New Shares to trading on AIM and dealings in these shares are expected to commence on 4 March 2013.

Summit is an Oxford, UK based drug discovery and development Company targeting high-value areas of unmet medical need including Duchenne Muscular Dystrophy and C. difficile infection.  Summit is listed on the AIM market of the London Stock Exchange and trades under the ticker symbol SUMM. Further information is available at www.summitplc.com and follow Summit on Twitter (@summitplc).

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