Summit Corporation PLC : Update on Capital Reorganisation Timetable

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July 18, 2014 10:10 ET

Summit Therapeutics plc

Summit Therapeutics plc

Summit Corporation plc

('Summit' or the 'Company')

UPDATE ON CAPITAL REORGANISATION

Oxford, UK, 18 July 2014 - Summit (AIM: SUMM), the drug discovery and development company advancing therapies for Duchenne Muscular Dystrophy and C. difficile infection, today provides an update on the timetable relating to the cancellation of deferred shares and reduction of share premium account that were announced on 2 June 2014.

There has been a change in the dates for the Court hearing to approve the cancellation of all deferred shares that are in existence and the reduction in the share premium account.  The change in dates is due to convening a second Class Meeting of the holders of the deferred shares that were in existence prior to the Company's AGM on 3 July 2014.  The meeting will seek to gain the necessary consent to cancel those deferred shares.

The new expected timetable of events is outlined below:

Further announcements will be made as appropriate.

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 quoted 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 Summit can be followed on Twitter (@summitplc).

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