14th May 2008 07:00
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For immediate release |
14 May 2008 |
SAREUM HOLDINGS PLC
("Sareum" or "the Company")
Restructuring
Sareum Holdings plc (AIM: SAR), the specialist structure-based drug discovery business, announces that, as part of the strategic review that was announced on 2 May 2008, the Company has implemented a staff restructuring process in order to reduce its cost base and prepare itself for any potential acquisition or re-financing whilst the future business strategy is determined. As a result of this restructuring, Sareum's overall costs will be reduced by approximately one third. The Company's core capabilities will remain essentially unchanged and Sareum will still continue to deliver on its ongoing research service contracts and to progress its in-house cancer drug discovery programs.
- Ends-
For further information please contact:
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Sareum Holdings plc |
01223 497700 |
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Tim Mitchell, Chief Executive Officer |
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Buchanan Communications |
020 7466 5000 |
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Tim Anderson, Mary-Jane Johnson |
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Grant Thornton Corporate Finance |
020 7383 5100 |
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Philip Secrett, Colin Aaronson |
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