Celadon Pharmaceuticals PLC has announced significant changes to its board and a proposal to de-list from the Alternative Investment Market (AIM). Following internal disagreements over the company’s future, four non-executive directors and the Chairman resigned on March 21, 2025.
The exodus of board members was prompted by CEO James Short’s intention to propose the removal of these directors at the forthcoming general meeting. Short, who holds a 39.5% stake in the company, believes that de-listing from AIM could reduce operational costs and improve access to capital for Celadon.
The resignations have led to a streamlined board consisting of only two directors: Alexander Anton as Chairman and James Short as CEO. In light of these developments, Celadon will move forward with plans to cancel trading of its ordinary shares on AIM, subject to shareholder approval.
To facilitate share transactions post-cancellation, Celadon intends to establish a Matched Bargain Facility through J P Jenkins. Details will be communicated to shareholders in an upcoming circular.
Chairman Alexander Anton has indicated he will reassess his role following the outcome of the general meeting regarding the de-listing proposal. Should the cancellation be sanctioned by shareholders, Anton is expected to step down from the board.
This announcement is based on a press release statement from Celadon Pharmaceuticals PLC.
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