TCBP Announces General Meeting of Shareholders to Approve One-Time Shareholder Dividend
Rhea-AI Summary
TC BioPharm (NASDAQ: TCBP) has announced a special dividend of 0.25 American Depositary Shares (ADSs) for every 1 ADS held by shareholders, subject to shareholder approval. The company will hold a general meeting on December 30, 2024, at 2:00 p.m. (UK time) in Cullen, Scotland. The dividend is expected to be declared on December 30, 2024, with eligibility for shareholders on record as of January 02, 2025.
CEO Bryan Kobel emphasized that this dividend is a reward for shareholder support during challenging market conditions, including what he described as a 'false short and distort campaign.' The specific payment date for ADSs will be announced later.
Positive
- Proposed special dividend of 0.25 ADS for every 1 ADS held
- Initiative to return value to shareholders
Negative
- Dividend requires shareholder approval
- Company faced challenging capital markets environment
- Alleged target of short-selling campaign
News Market Reaction 1 Alert
On the day this news was published, TCBP gained 38.59%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
The dividend is expected to be declared on December 30, 2024, and payable to shareholders who own the Company's stock at the close of trading on January 02, 2025. Relevant details regarding the payment date for the Company's American Depositary Shares will be announced at a later time.
Further information regarding the proposed dividend will be contained in the convening notice and explanatory notes for the GM, which will be available free of charge in the Investors section of the Company's corporate website at https://ir.tcbiopharm.com/ and available on the SEC's website at www.sec.gov.
"We are extremely pleased to announce this special dividend, our shareholders have been supportive of the Company through a difficult capital markets environment, including the Company being the target of a nefarious and false short and distort campaign," said Bryan Kobel, CEO of the Company. "We believe our shareholders deserve to be rewarded for their steadfastness, and while we cannot force regulators to move with alacrity or fight fraud, we believe this is a step towards increasing value. Our commitment to returning value to shareholders remains unwavering and we look forward to another strong year of operational achievements in 2025."
This press release is for informational purposes only. It shall not constitute an offer to sell or exchange nor the solicitation of an offer to buy shares of the Company's common stock or any other securities.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements in this Current Report on Form 6-K that do not relate to matters of historical fact should be considered forward-looking statements, including statements regarding the Company's intent or ability to pay any dividends, affect any budget savings or execute on any M&A or capital raising strategy. These statements are based on management's current assumptions and are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. For other important factors that could cause actual results to differ materially from the forward-looking statements in this Current Report on Form 6-K, please see the risks and uncertainties identified under the heading "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2023, and our other reports filed with the SEC, all of which is available on the Company's Investor Relations website at www.tcbiopharm.com and on the SEC website at www.sec.gov. All forward-looking statements reflect the Company's beliefs and assumptions only as of the date of this Current Report on Form 6-K. The Company undertakes no obligation to update forward-looking statements to reflect future events or circumstances.
About TC BioPharm (Holdings) PLC
TC BioPharm is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of gamma-delta T cell therapies for the treatment of cancer with human efficacy data in acute myeloid leukemia. Gamma-delta T cells are naturally occurring immune cells that embody properties of both the innate and adaptive immune systems and can intrinsically differentiate between healthy and diseased tissue.
TC BioPharm is the leader in developing gamma-delta T cell therapies, and the first company to conduct phase II/pivotal clinical studies in oncology. The Company is conducting two investigator-initiated clinical trials for its unmodified gamma-delta T cell product line - Phase 2b/3 pivotal trial in treatment of acute myeloid leukemia using the Company's proprietary allogeneic CryoTC technology to provide frozen product to clinics worldwide.
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SOURCE TC BioPharm
FAQ
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