8th Dec 2008 10:30
Sinclair Pharma plc
Placing
8 December 2008, Godalming, UK: Sinclair Pharma plc ("Sinclair" or the "Company": SPH:L), the international specialty pharma company, today announces it has placed 7,000,000 new ordinary shares of 1 pence each ("New Ordinary Shares") at 16 pence per New Ordinary Share with institutional investors to raise approximately £1.1 million, net of expenses. The New Ordinary Shares represent 6.8 per cent. of the enlarged issued share capital of Sinclair.
The Placing is being made pursuant to the Company's existing authority for the disapplication of pre-emption rights under Section 95 of Companies Act 1985 taken at the annual general meeting in 2007. The New Ordinary Shares will, when issued and fully paid, rank pari passu in all respects with the existing issued ordinary shares of the Company.
The Placing is conditional upon, inter alia, admission of the New Ordinary Shares to listing on the Official List of the UK Listing Authority and to trading on the London Stock Exchange's market for listed securities (together "Admission").
Application will be made for admission and it is expected that Admission will become effective and dealings in the New Ordinary Shares will commence no later than 8.00 a.m. on 12 December 2008.
For further information please contact:
| Sinclair Pharma plc | Tel: +44 (0)1483 410 600 |
| Dr Michael Flynn, CEO | |
| Jerry Randall, CFO | |
| Teathers | Tel: +44 (0)20 7426 9000 |
| Shaun Dobson | |
| Cameron Duncan | |
| 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. 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. The company focuses on niche therapeutic areas and its current portfolio includes products for a wide range of dermatological conditions and oral health.
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Sinclair Pharma