SPH.L
Convertible Unsecured Loan Notes
6th September 2010, Godalming, UK: Sinclair Pharma plc (the "Company" or
"Sinclair": SPH:L), the international specialty pharma company, is pleased to
announce that the Company has refinanced the £2.3 million convertible unsecured
loan notes that expired on 3 September 2010 through the issue of a new series
of £2.3 million loan notes (the "2010 Notes") placed with the same
institutional investor and on the same terms as the expiring notes.
Ends
For further information please contact:
Sinclair Pharma plc Tel: +44 (0) 1483 410 600
Chris Spooner, CEO
Alan Olby, CFO
Singer Capital Markets Ltd Tel: +44 (0)20 3205 7500
Shaun Dobson
Claes Spång
Biddicks, Financial Public Relations Tel: +44 (0)20 7448 1000
Shane Dolan
Summary of the 2010 Loan Notes
* The 2010 Notes are unsecured and carry a coupon of 8 per cent. Payable
quarterly in arrears
* The 2010 Notes can be converted at 24.68 pence, the same price as the
expiring notes
* The 2010 Notes convert into ordinary shares of 1 pence each ranking pari
passu with the existing ordinary shares
* The 2010 Notes can be converted on quarter end days commencing on 31
December 2010, up to 31 March 2012
* The 2010 Notes expire and will be repaid on 31 March 2012 in the event that
they have not previously been converted
Notes to Editors:
About Sinclair Pharma Plc www.sinclairpharma.com
Sinclair Pharma plc is an international, highly commercial, rapid-growth
dermatology and oral care company providing and promoting high quality and
differentiated products through growing sales and marketing operation that is
present in France, Italy, Germany and Spain, and through an extensive marketing
partner network across selected developed & emerging markets.
"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.
SINCLAIR PHARMA PLC
