Board Re-structuring and update on requisition

ValiRx plc (the "Company") (AIM: VAL), a life sciences company focusing on early-stage cancer therapeutics and women's health, provides an update on the planned board restructuring and shareholder requisition.

The Board is commencing an executive search to seek a Chief Executive Officer to lead the next stage of growth of the Company. The Company recognises the highly specialised nature of this role and anticipates the required process to identify the appropriate candidate may take a number of months, during which period Dr Dilly will remain as Chief Executive Officer. As part of the re-structuring process, Dr Dilly and the Board will consider potential alternative roles within the Company or Group.

In addition, Adrian de Courcey will join the ValiRx Board as a proposed Non-Executive Director, subject to completion of regulatory due diligence and Ray Horn will become a Board observer.

The Company announces that the Shareholder Requisition Notice to requisition a General Meeting of the Company, as announced on 4 March 2024, has been withdrawn and a General Meeting will not be convened.

Dr Suzy Dilly commented "I've been honoured to play a leading role in establishing the new preclinically-focussed strategy for ValiRx in the period since my appointment in 2020, and as the Company grows it is appropriate for an individual with experience of leading larger companies is sought to better serve the Company's needs. I remain committed to serving the best interests of our shareholders, our staff and collaborators, and will be available to provide support both to the search and to the integration of the incoming team members."