Summit Corporation PLC: Update on Capital Reorganisation Timetable

      Summit Corporation PLC: Update on Capital Reorganisation Timetable

Summit Corporation plc
('Summit' or the 'Company')

UPDATE ON CAPITAL REORGANISATION

Oxford, UK, 18 July 2014 - Summit (AIM: SUMM), the drug discovery and
development company advancing therapies for Duchenne Muscular Dystrophy and C.
difficile infection, today provides an update on the timetable relating to the
cancellation of deferred shares and reduction of share premium account that
were announced on 2 June 2014.

There has been a change in the dates for the Court hearing to approve the
cancellation of all deferred shares that are in existence and the reduction in
the share premium account. The change in dates is due to convening a second
Class Meeting of the holders of the deferred shares that were in existence
prior to the Company's AGM on 3 July 2014. The meeting will seek to gain the
necessary consent to cancel those deferred shares.

The new expected timetable of events is outlined below:

Event                                                                  2014
Expected date of Court hearing to confirm the Capital Reduction 3 September
Expected effective final date for the Capital Reduction         4 September

Further announcements will be made as appropriate.

                                   - END -

Notes to Editors

About Summit
Summit is an Oxford, UK based drug discovery and development company targeting
high-value areas of unmet medical need including Duchenne Muscular Dystrophy
and C. difficile infection. Summit is quoted on the AIM market of the London
Stock Exchange and trades under the ticker symbol SUMM. Further information is
available at www.summitplc.com and Summit can be followed on Twitter
(@summitplc).

For more information, please contact:

Summit                               Tel: +44 (0)1235 443 951
Glyn Edwards / Richard Pye
Cairn Financial Advisers LLP         Tel: +44 (0)20 7148 7900
(Nominated Adviser)
Liam Murray / Tony Rawlinson
N+1 Singer                           Tel: +44 (0)20 7496 3000
(Broker)
Aubrey Powell / Jen Boorer
Peckwater PR                         Tel: +44 (0)7879 458 364
(Financial public relations, UK)     tarquin.edwards@peckwaterpr.co.uk
Tarquin Edwards
MacDougall Biomedical Communications Tel: +1 781-235-3060
(US media contact)
Michelle Avery

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the content, accuracy and originality of the information contained therein.
Source: Summit Corporation PLC via Globenewswire
HUG#1831013
 
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