Celadon Pharmaceuticals Plc

("Celadon", or the "Company")

Exercise of Share Options and Total Voting Rights

London, 15 May 2024 - Celadon Pharmaceuticals Plc (AIM: CEL), a UK-based pharmaceutical company focused on the development, production and sale of breakthrough cannabis-based medicines, today announces it is issuing a total of 250,000 ordinary shares of £0.01 each ("Ordinary Shares") following the exercise of options under the Celadon Pharmaceuticals Plc Long Term Incentive Plan, at an exercise price of £0.01 per Ordinary Share (the "Option Shares").

Application has been made for the 250,000 new Ordinary Shares to be admitted to trading on AIM ("Admission"), and dealings are expected to commence on or around 21 May 2024. The new Ordinary Shares will rank pari passu with the Company's existing Ordinary Shares.

Following Admission, the Company will have 65,744,617 ordinary shares of £0.01 each in issue. The Company has no shares in treasury, therefore the figure of 65,744,617 should be used by shareholders for the calculations by which they will determine if they are required to notify their interest in, or a change of their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

Enquiries:

Celadon Pharmaceuticals Plc

James Short                                                                                                    Via Powerscourt

Jonathan Turner

Canaccord Genuity Limited (Nominated Adviser and Broker)

Bobbie Hilliam / Andrew Potts                                                                   +44 (0)20 7523 8000

About Celadon Pharmaceuticals Plc

Celadon Pharmaceuticals Plc is a UK based pharmaceutical company focused on the research, cultivation, manufacturing, and sale of breakthrough cannabis-based medicines. Its primary focus is on improving quality of life for chronic pain sufferers, as well as exploring the potential of cannabis-based medicines for other conditions such as autism. Its 100,000 sq. ft UK facility is EU-GMP approved and comprises indoor hydroponic cultivation, proprietary GMP extraction and manufacturing and an analytical and R&D laboratory. Celadon's Home Office licence allows for the commercial supply of its GMP pharmaceutical cannabis product. The Group owns an approved clinical trial using cannabis based medicinal products to treat chronic pain in the UK. Celadon also has a minority interest in early-stage biopharma Kingdom Therapeutics which is developing a licensed cannabinoid medicine to treat children with Autism Spectrum Disorder.

 For further information please visit our website www.celadonpharma.co.uk

This announcement contains inside information for the purposes of article 7 of the Market Abuse Regulation (EU) 596/2014 as amended by regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310. With the publication of this announcement, this information is now considered to be in the public domain.