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LONDON - Celadon Pharmaceuticals Plc (AIM:CEL), a pharmaceutical company specializing in cannabis-based medicines, is in a precarious financial state as it seeks urgent funding to continue operations. The company, which announced on May 30, 2025, that it might enter administration if funds were not secured, is still in discussions with a new finance provider.
As of today, Celadon’s working capital remains limited, and its ongoing trade is contingent upon the imminent financial support from the new provider, alongside continued backing from creditors and stakeholders. The company has indicated that failure to obtain the necessary funding within the next week could lead to administration to protect stakeholder interests.
In parallel with these developments, Celadon has expressed its intent to cancel the trading of its ordinary shares on the AIM market, conditional upon the acquisition of the required funding.
Furthermore, Celadon has announced the scheduling of its Annual General Meeting (AGM) for June 30, 2025, to be held at The Aston Tavern Hotel in Birmingham. The notice of the AGM will be made available on the company’s website and sent to shareholders imminently. Notably, the approval of the company’s report and accounts will not be presented as a resolution at the AGM.
The company has promised to provide updates on the situation as it evolves. This news is based on a press release statement from Celadon Pharmaceuticals.
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