Company Announcements

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED IN IT, IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION, DISTRIBUTION OR FORWARDING, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES IN ARECOR THERAPEUTICS PLC OR ANY OTHER ENTITY IN ANY JURISDICTION.

8 August 2024

Arecor Therapeutics plc

("Arecor Therapeutics" or the "Company")

Result of General Meeting and Total Voting Rights

Arecor Therapeutics (AIM: AREC), the biopharmaceutical group advancing today's therapies to enable healthier lives, is pleased to announce that the Resolutions to approve, inter alia, the proposed Placing, Subscription and Retail Offer as set out in the Circular published on 23 July 2024, and put to Shareholders at the General Meeting held earlier today, were duly passed. A summary of the voting results is set out below.

Result of General Meeting

The Board reports that Resolution 1 passed as an ordinary resolution and Resolution 2 passed as a special resolution.  Following the passing of the Resolutions, the Company has received the authority for the Directors to allot and issue the Placing Shares, Subscription Shares and Retail Offer Shares.

The proxy voting results of the Resolutions are included below:

Admission and Settlement

The Company has raised total gross proceeds of approximately £6.42 million in aggregate (before expenses) at the Issue Price through the Placing, Subscription and Retail Offer. Application has been made for 7,129,615 New Ordinary Shares to be admitted to trading on AIM, which is expected to occur at 8.00 a.m. on 9 August 2024.

Total Voting Rights

Following Admission, the Company will have 37,756,601 Ordinary Shares in issue. The Company does not currently hold any shares in treasury. Therefore, the above figure of 37,756,601 Ordinary Shares may be used by shareholders of the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

Unless otherwise stated, capitalised terms not otherwise defined in the text of this announcement have the same meanings ascribed to them as in the Circular published by the Company on 23 July 2024.

About Arecor

Arecor Therapeutics plc is a globally focused biopharmaceutical company transforming patient care by bringing innovative medicines to market through the enhancement of existing therapeutic products. By applying our innovative proprietary technology platform, Arestat™, we are developing an internal portfolio of proprietary products in diabetes and other indications, as well as working with leading pharmaceutical and biotechnology companies to deliver therapeutic products. The Arestat™ platform is supported by an extensive patent portfolio. 

For further details please see our website, www.arecor.com

 IMPORTANT NOTICES

This announcement is not for publication or distribution, directly or indirectly, in or into the United States of America.  This announcement is not an offer of securities for sale into the United States.  The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States, except pursuant to an applicable exemption from registration.  No public offering of securities is being made in the United States.

This announcement does not constitute an offer to sell, or the solicitation of an offer to acquire or subscribe for, Ordinary Shares in any jurisdiction where such offer or solicitation is unlawful or would impose any unfulfilled registration, qualification, publication or approval requirements on the Company. The offer and sale of Ordinary Shares has not been and will not be registered under the applicable securities laws of Australia, Canada, the Republic of South Africa or Japan. Subject to certain exemptions, the Ordinary Shares may not be offered to or sold within Australia, Canada, the Republic of South Africa or Japan or to any national, resident or citizen of Australia, Canada, the Republic of South Africa or Japan.

This announcement does not constitute, or form part of, any offer or any solicitation of an offer to subscribe for any shares or other securities, nor shall it (or any part of it) or the fact of its dissemination form the basis of, or be relied on in connection with, any contract with respect thereto.