20th May 2016 10:42
LONDON (Alliance News) - Sinclair Pharma PLC said two of its executives acquired shares on Friday after the dermatological products company released a strong trading update.
Julie Spooner, wife of Chief Executive Officer Chris Spooner, acquired 150,000 shares at 35.4 pence each on Friday.
Following this transaction, Chris Spooner's total beneficial interest is 9,139,164 shares, or a 1.84% stake.
The company also said Chief Operating Officer Christophe Foucher bought 31,500 shares at 35.5p each and now holds 222,700 shares.
Sinclair Pharma took itself off the market on Friday after striking a distribution and strategic marketing deal in the US and completing the sale of its non-aesthetics business, which was announced earlier in the year.
In an upbeat trading statement, Sinclair said it has signed a four-year, exclusive distribution and strategic marketing agreement with Thermigen for Silouhette Instalift. Sinclair said it has granted Thermigen a four-year distribution licence for the US market, running to mid-2020. Silouhette Soft will be combined with Thermigen's ThermiTight skin laxity treatment in order to provide patients with a minimally-invasive, non-surgical alternative to a face lift.
Sinclair also said it has seen revenue grow to GBP8.9 million in the three months to the end of March, significantly ahead of the GBP7.7 million it made in the six months to the end of December.
Shares were up 7.7% at 35.00p Friday.
By Arvind Bhunjun; [email protected]; @ArvindBhunjun
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