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


POSTING OF CIRCULAR AND NOTICE OF GENERAL MEETING

Oxford, UK, 14 December 2009 - Summit Corporation plc (AIM: SUMM) is
pleased to announce that further to the announcement made on 11
December regarding the proposed Placing to raise up to £6.0 million
and the Open Offer to raise up to a further £2.2 million a circular
was sent to shareholders on 14 December with details of the proposed
Placing and Open Offer and the General Meeting of the Company to be
held on 30 December 2009.


The Open Offer

1.       Details of the Open Offer

Summit is proposing to raise up to £2.2 million (before expenses)
pursuant to the Open Offer. The proposed Issue Price of 5 pence per
Open Offer Share is the same price as the price at which the Placing
Shares are being issued.

The Open Offer is being made on a pre-emptive basis, allowing all
Qualifying Shareholders the opportunity to participate. The Open
Offer is not underwritten. The Fundraising is not conditional upon
the level of applications made to subscribe under the Open Offer.
Accordingly, if no further applications to subscribe under the Open
Offer are received, the total amount that the Company would raise via
the Fundraising would be reduced to £5.1 (before expenses).

The Open Offer provides Qualifying Holders with the opportunity to
apply to acquire Open Offer Shares at the Issue Price pro rata to
their holdings of Existing Ordinary Shares as at the Record Date on
the following basis:

    0.75 Open Offer Shares for every one Existing Ordinary Shares

and so on in proportion for any other number of Existing Ordinary
Shares then held. Entitlements to apply to acquire Open Offer Shares
will be rounded down to the nearest whole number and any fractional
entitlement to Open Offer Shares will be disregarded in calculating
the Qualifying Holder's Entitlement.

The Directors will be authorised to offer for cash such New Ordinary
Shares not applied for under the Open Offer to such persons who are
willing to subscribe for such shares (at not less than the Issue
Price).

The New Ordinary Shares will, when issued and fully paid, rank pari
passu in all respects with the Existing Ordinary Shares, including
the right to receive all dividends and other distributions declared,
made or paid after the date of Admission.

Defined terms in this announcement have the same meaning as in the
circular that has been posted to shareholders.


For more information, please contact:

Summit Corporation plc
Steven Lee, PhD
Richard Pye, PhD
Tel: +44 (0)1235 443939

Singer Capital Markets
Shaun Dobson
Claes Sp�ng
Tel: +44 (0)20 3205 7500
                              - ENDS -

About Summit plc

Summit plc is a UK based drug discovery company with a major focus on
developing new therapeutics from its iminosugar drug discovery
platform.

Summit believes iminosugars are the key to gaining access to several
disease mechanisms where classical drug candidates have had little
success, and therefore offer a major opportunity for the discovery
and development of new medicines.

Carbohydrates play critical roles in maintaining correct function of
many normal processes in healthy individuals and provide a wealth of
new targets for drug discovery.  Iminosugars have the capability of
accessing such targets and offer the potential of generating new
medicines in a variety of major therapy areas.  Summit is currently
focussed on metabolic diseases, including diabetes, and anti-virals.

Commercially, Summit has a track record of signing programme
agreements and currently has an out-licensed product portfolio
comprising of eight drug programmes with BioMarin, Orient Pharma,
Evolva, the Wellcome Trust and the Lilly TB Drug Discovery
Initiative.  In the future these programmes may generate success
based milestone payments and royalties for Summit.

The company listed on the alternative investment market (AIM) of the
London Stock Exchange in October 2004 - symbol: SUMM.  Further
information about the company is available at www.summitplc.com.


Forward Looking Statement
This document contains "forward-looking statements" within the
meaning of the U.S. Private Securities Litigation Reform Act of 1995.
Forward-looking statements can be identified by words such as
"anticipates", "intends", "plans", "seeks", "believes", "estimates",
"expects" and similar references to future periods, or by the
inclusion of forecasts or projections.

Forward-looking statements are based on the Company's current
expectations and assumptions regarding our business, the economy and
other future conditions. Because forward-looking statements relate to
the future, by their nature, they are subject to inherent
uncertainties, risks and changes in circumstances that are difficult
to predict. The Company's actual results may differ materially from
those contemplated by the forward-looking statements. The Company
cautions you therefore that you should not rely on any of these
forward-looking statements as statements of historical fact or as
guarantees or assurances of future performance. Important factors
that could cause actual results to differ materially from those in
the forward-looking statements and regional, national, global
political, economic, business, competitive, market and regulatory
conditions.

---END OF MESSAGE---




This announcement was originally distributed by Hugin. The issuer is 
solely responsible for the content of this announcement.