Sinclair Pharma plc
Placement of Convertible Unsecured Loan Notes
7th September 2009 , Godalming, UK: Sinclair Pharma plc (the "Company" or
"Sinclair": SPH:L), the international specialty pharma company, is pleased to
announce that the Company has issued convertible unsecured loan notes (the
"Notes") worth approximately £2.3 million to a leading institutional investor.
A first series of £1 million of the Notes will be issued immediately with an
option to issue up to a further £1.3 million of Notes.
The additional funds made available to the Company from the Notes will further
strengthen the Company's balance sheet, improve Sinclair's working capital
position and provide opportunities for further organic growth.
Dr Michael Flynn, Chief Executive of Sinclair commented:
"The new funds will strengthen our ability to take advantage of the market
opportunities arising in the current economic environment."
For further information please contact:
Sinclair Pharma plc Tel: +44 (0) 1483 410 600
Dr Michael Flynn, CEO
Jerry Randall, CFO
Singer Capital Markets Ltd Tel: +44 (0)20 3205 7500
Shaun Dobson
Claes Spång
Capital MS&L Tel: +44 (0)20 7307 5340
Mary Clark
Anna Mitchell
Summary of the Notes
* The Notes have been placed with a UK institutional investor
* The Notes are unsecured and carry a coupon of 8 per cent. payable quarterly
in arrears
* The conversion price is the closing mid-market price on 3 September, 27.5
pence
* The Notes convert into ordinary shares of 1 pence each ranking pari passu
with the existing ordinary shares of 1 pence each
* The Notes can be converted on 31 December 2009, 31 March 2010, 30 June 2010
or on the first anniversary at the option of the investor
* In the event that the Notes have not previously been converted they will be
repaid on the first anniversary of being issued
* The option over £1.3 million of the Notes is exercisable by Sinclair on or
before 15 September 2009
Notes to Editors:
About Sinclair Pharma Plc www.sinclairpharma.com
Sinclair Pharma plc is an international specialty pharmaceutical company. It
has a growing sales and marketing operation that is already present in France,
Italy, UK, Spain and Portugal, and a complementary marketing partner network
that spans more than 80 countries.
Sinclair has proven expertise in acquiring or developing commercially
attractive and undervalued products, registering these products and bringing
them to market within a short timeframe. Sinclair focuses on niche therapeutic
areas and its current portfolio includes products for dermatological conditions
and oral health.
"Safe Harbor" Statement under the US Private Securities Litigation Reform Act
of 1995: Some or all of the statements in this document that relate to future
plans, expectations, events, performances and the like are forward-looking
statements, as defined in the US Private Securities Litigation Reform Act of
1995. Actual results of events could differ materially from those described in
the forward-looking statements due to a variety of factors.
aktien.onvista.de/...html?ID_OSI=9253882&ID_NEWS=117267274