Syntopix Group Meeting Update : News from McNeill.org.uk

Syntopix Group Meeting Update

23 May 2011
Syntopix Group Meeting Update

Syntopix Group plc announce result of General Meeting

Syntopix Group plc (AIM:SYN), the speciality pharmaceutical research and development company focused on topical antimicrobial innovations for products in the medicine and consumer healthcare markets, is pleased to announce that further to the announcement on 6 May 2011, and the Circular of the same date, all resolutions were duly passed by Shareholders at the General Meeting held earlier today.

The Acquisition of Leeds Skin, the Placing to raise £2 million (before expenses), the Subdivision and Admission of the new Ordinary Shares to AIM are expected to become effective at 8.00 a.m. on 24 May 2011.

Dr Stephen Jones, Chief Executive of Syntopix, commented: "I am looking forward to working with the Leeds Skin team to commercialise Syntopix's own development pipeline and expand the pre-clinical testing services for external clients. We are now in a position to not only identify topical antimicrobial compounds but also test them in the laboratory and in humans. We have the capacity to progress compounds in-house and revenues to support our growth. This puts the Group in a much stronger commercial position and I look forward to reporting on progress in due course."

Board Change

Conditional upon Admission, Dr Richard Bojar will be appointed to the Board as Chief Scientific Officer. Richard has operated in the skin microbiology field for over 25 years, having worked in the Skin Research Centre at University of Leeds since 1984. In 2008, Richard led the spin out of Leeds Skin from the University of Leeds as managing director.

Richard Antony Bojar, aged 49, has held the following directorships in the last five years:

Current

Leeds Skin Centre for Applied Research Limited

Former

Leeds Foundation for Dermatological Research Limited

There are no further disclosures to be made in accordance with schedule 2(g) of the AIM Rules.

Directors' Holdings

Immediately following Admission the Directors will have the following interests in the issued share capital of the Company:

Director

Number of Ordinary Shares

% of issued capital

Tom Bannatyne

13,964,670

8.06%

Dr Stephen Jones

608,110

0.35%

Darren Bamforth

68,250

0.04%

Dr Jonathan Cove

5,398,220

3.12%

Dr Gwynfor Humphreys

1,844,410

1.07%

Mike Townend

-

-

Dr Richard Bojar

11,390,203

6.58%

 

Certificated Shareholders

The Board have decided that, once the Subdivision and Admission have become effective, the Company's registrar will be instructed to issue new Ordinary 1p share certificates to all existing certificated Shareholders which will replace all existing Ordinary 10p share certificates held. The existing Ordinary 10p share certificates will be rendered invalid from 8.00 a.m. on 24 May 2011.

Total Voting Rights

Following Admission, the Company will have a single class of shares being Ordinary Shares of 1 pence each and there will be 173,179,690 Ordinary Shares in issue, each carrying one vote per Ordinary Share. The Company does not hold any Ordinary Shares in treasury.

The total number of voting rights in the Company's Ordinary Shares will be 173,179,690 and this number may be used by shareholders as the denominator in calculations to determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Services Authority's Disclosure and Transparency Rules.