Permission granted for distribution to Unsecured Creditors
13 Oct 2017
Redx Pharma announces that Jason Baker and Miles Needham of FRP Advisory LLP, joint administrators of the Company and of its subsidiary, Redx Oncology Limited, have applied to the High Court for an order which will enable the Companies to be rescued as going concerns and the Joint Administrators to vacate office.
Unless adjourned by the court, the application will be heard on Thursday 26 October 2017. Assuming that the application is approved by the High Court, the Joint Administrators will subsequently take steps to return control of the Company to the directors, following which the directors will seek to lift the suspension of the Company’s ordinary shares.
Further announcements will be made in due course.