8th Dec 2008 11:30
Sinclair Pharma plc AGM Statement
8th December 2008, Godalming, UK: Sinclair Pharma plc ("Sinclair") announces that all resolutions proposed at today's Annual General Meeting were duly passed on a show of hands.
The results of the proxy votes received in advance of the meeting were as shownbelow:No Resolution Total votes % Votes % Votes for Against Withheld (including discretionary votes) 1 Approve the annual 29,047,685 100 0 0 0 report and accounts for the year ended 30 June 2008 2 Re-elect Dr 29,047,685 100 0 0 0 Michael Flynn 3 Re-appoint 29,047,685 100 0 0 0 auditors and authorise directors to determine remuneration 4 Approve directors' 28,609,043 98.54 423,642 1.46 15,000 remuneration report 5 Authority to allot 28,535,567 98.24 512,118 1.76 0 shares 6 Dis-application of 28,111,825 96.78 935,860 3.22 0 pre-emption rights 7 Authority to 29,043,352 99.99 4,333 0.01 0 purchase own shares 8 Adopt new articles 28,624,043 100 0 0 423,642 of association
On 8 December 2008 there were 96,326,263 shares in issue.
In accordance with Listing Rule 9.6.2R, two copies of the resolutions passed as special business at the AGM are being submitted to the UK Listing Authority and will shortly be available for inspection at the UKLA Document Viewing Facility situated at Financial Services Authority, 25 The North Colonnade, Canary Wharf, London E14 5HS (Tel: 020 7676 1000).
In addition, two copies of the amended Articles of Association will also be available for inspection at the UKLA Document Viewing Facility.
Following the decision of Mr Steve Harris to step down as director and consequently as Non-executive Chairman from the Board of Sinclair with effect from the end of today's Annual General Meeting, Mr Grahame Cook, previously the Senior Independent Director, has agreed to take on the role of non-executive Chairman.
Dr Michael Flynn, CEO of Sinclair Pharma commented:
"I and the board of Sinclair express our thanks to Steve Harris for his valued contribution to the Company and wish him well for the future."
"We are very pleased to welcome Grahame Cook as the new of Non-executive Chairman of Sinclair. Grahame is a Chartered Accountant who worked for 18 years in the City, latterly as a Managing Director and Member of the Global Management Committee of UBS Investment Bank and then CEO of West LB Panmure. Grahame's extensive experience in the financial sector and transactions experience will undoubtedly help guide Sinclair through the next phase of the Company's evolution."
Mr Grahame Cook, the newly appointed Chairman of Sinclair Pharma plc, made the following comments during the AGM:
"Since the year end in June, Sinclair has maintained this progress and is trading in line with Board expectations. We continue to grow sales, launch products and sign new distribution agreements. To date we have signed 20 new distribution agreements covering 13 products in 9 countries. This includes the first agreements for the distribution of our new pipeline products T-Go, Sinlice, Herpclair and Decapinol Perio-Applicator. Sinclair also continues its expansion into emerging markets with its recently announced deal in Pakistan. We are optimistic about prospects for the full year."
"Following my appointment as Non-executive Chairman of Sinclair I look forward to working with the Board and management of Sinclair Pharma to build on the Company's success to date."
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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
Mariyam Rawat, Communications & Investor relations [email protected]
Capital MS&L
Mary Clark, Anna Mitchell Tel +44 (0)20 7307 5340
Notes:
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.
Product Information:
Sinlice: This product is designed to meet a market need for a novel, safe and effective treatment for head lice. The OTC market for the five main EU territories and the US is worth an estimated ‚£120m. Sinlice uses proprietary barrier technology to coat and suffocate head lice and their eggs, killing them and making them easy to remove. Sinclair applied its expertise in topical and barrier formulations to develop Sinlice, entering a new therapeutic area for the company. The product can be sold without a prescription in the EU since its registration as a medical device in December 2007.
Herpclair: This is a proprietary topical treatment aimed at rapidly reducing the symptoms of herpes simplex cold sores and accelerating the healing process. The product is registered as Medical Device Class IIa and can be sold without a prescription in the EU. The OTC market for herpes simplex products in the UK, France and Germany is valued at ‚£83m. In Spain and Italy, products for cold sores are commonly prescribed, opening up a new sector of the market for Sinclair in these regions. Herpclair is an important addition to the company's product range and its commercialisation will contribute to our growing presence in the EU market. Herpclair was registered in the EU as a medical device in January 2008.
T-Go: Sinclair announced EU registration of its pipeline product for symptom relief for teething infants in December 2007. Sinclair is now free to sell the product in all EU territories. T-Go has been designed to meet a market need for symptom relief during teething, without the use of topical pharmacological agents in infants. T-Go builds on the patented technology of Sinclair's existing mouth ulcer product, Aloclair. The market is currently dominated by gels that contain the topical anaesthetic lignocaine/lidocaine, or the analgesic choline salicylate. T-Go is free from these pharmacological agents. The formulation includes hyaluronic acid, which has demonstrated efficacy in maintaining the integrity of the oral mucosa (mouth lining) and providing barrier-based pain relieving qualities. T-Go is registered as a Class IIa medical device and can therefore be sold without a prescription in the EU.
Decapinol Perio-Applicator and Perio-vialsarepart of the "Decapinol Suite", an innovative system that includes two different options for treating local periodontal pockets. The first step is professional intervention with Decapinol Perio, composed of a unique ergonomically designed applicator that is used with Perio-Vials which contain delmopinol Hcl solution. The second step is follow-up domiciliary care with Decapinol gel. These two formulations can be used along the margins of the sub and supra-gingival and into interdental spaces. Decapinol suite's key ingredient is delmopinol Hcl; delmopinol Hcl has a novel mechanism of action, which is to reduce the adherence of bacterial plaque to the teeth and gingiva, and also to other plaque. Decapinol gel contains other additional ingredients to improve overall gum health and to help relieve pain followed by treatment.
"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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