29th Oct 2009 07:00
Sinclair Pharma plc
New Debt Facility
29 October 2009, Godalming, UK: Sinclair Pharma plc (the "Company" or "Sinclair": SPH:L), the international specialty pharma company, today announces that the Company has entered into new debt facilities over £9 million (the "New Debt Facility") plus a £3 million facility to replace Sinclair's existing facility.
As a consequence, the proposed equity fundraising announced on 12 October 2009 will be scaled back, as planned, to £18 million from the maximum of £25 million announced.
The New Debt Facility and the £18 million equity fundraising will be used to satisfy the consideration for the acquisition of products from Solvay Pharmaceuticals as announced on 12 October 2009 as well as for working capital purposes for the Company
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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
Notes to Editors:
About Sinclair Pharma Plc www.sinclairpharma.com
Sinclair Pharma plc is an international specialty pharmaceutical company providing solutions to treat dermatological, oral care and gynaecological diseases through advanced surface technology and innovative delivery systems. It has a growing sales and marketing operation that is already present in France, Italy, and Spain l, and a complementary marketing partner network that spans more than 90 countries.
"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.
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