Sinclair secures €23 million debt facility

Sinclair secures €23 million debt facility

The facility, a five year term loan which is on cheaper and more flexible terms than the Group’s existing bank debt, will be used to repay existing bank debt which amounted to £5.0 million.

Download Annoucement (PDF)

London, 30 April 2018

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

Sinclair Pharma plc (AIM:SPH.L) (“Sinclair” or the “Group”), the international aesthetics company, is pleased to announce that it has secured a new €23.0 million debt facility with Hayfin Capital Managament (“Hayfin”).

The facility, a five year term loan which is on cheaper and more flexible terms than the Group’s existing bank debt, will be used to repay existing bank debt which amounted to £5.0 million.

In addition proceeds will also be usedtofund growth (particularly in the Group’s direct operations in the US and South Korea); settle deferred consideration liabilities as they come due; and to invest in expanding as well as upgrading and increasing Ellansé® manufacturing capacity and US clinical trial development activities also for Ellansé®.

The loan is repayable on 27 April 2023 although it may be repaid at any time, at the Group’s option, subject to early prepayment fees. The loan carries an interest rate of EURIBOR plus 9.0%, subject to a EURIBOR floor of 0.75%. No cash interest is payable in the first 18 months of the facility.

The facility includes financial covenants relating to the achievement of revenue targets and a requirement to hold a minimum level of cash at all times andis secured by way of a first ranking charge over the Group’s assets.

Alan Olby, CFO of Sinclair, commented:

“I am delighted that we have the supportof Hayfin, awell respected, blue chip lender with whom we have maintained a long-term relationship. These additional resources, on more flexible terms, allow us to invest to further accelerate the international footprint and growth of Sinclair.”

Howard Rowe, Managing Directorof Hayfin, commented:

“Sinclair has delivered impressive growth over the last two years and we are truly excited by the Group’s prospects. We are pleased to once again be a lender to the company and to help facilitate the Sinclair team driving their business forward”

Ends

For further information please contact:

Sinclair Pharma plc

Chris Spooner Tel: +44 (0) 20 7467 6920
Alan Olby Tel: +44 (0) 20 7467 6920
Andy Crane Tel: +44 (0) 20 7467 6920

Peel Hunt LLP (NOMAD and Joint Broker)

James Steel
Tel: +44 (0) 20 7418 8900
Oliver Jackson
Tel: +44 (0) 20 7418 8900

RBC Capital Markets (Joint Broker)

Marcus Jackson Tel: +44 (0) 20 7653 4000
Laura White Tel: +44 (0) 20 7653 4000

Media enquiries

FTI Consulting

Ben Atwell Tel: +44 (0) 203 727 1000
Brett Pollard Tel: +44 (0) 203 727 1000
Stephanie Cuthbert Tel: +44 (0) 203 727 1000

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Notes to Editors:
About Sinclair Pharma plc –www.sinclairpharma.com

Sinclair Pharma plc is an international companyoperating in the fast growth, high gross margin, global aesthetics market. Sinclair has built a strong portfolio of differentiated, complementary aesthetics technologies, which are experiencing significant growth, targeting unmet clinical needs for effective, high quality, longer duration, natural looking and minimally-invasive treatments. Sinclairis planning entry to multiple new geographic markets and line extension launches over the next few years. The Grouphas an established sales and marketing presence in the leading EU markets and Brazil,and a network of international distributors.

“Safe Harbor” Statement under the US Private Securities Litigation Reform Act of 1995: Some or all of thestatements 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 offactors.

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