Schroder UK Public Private Tst plc Sanofi completes Kymab acquisition (9548U)
09 Abril 2021 - 1:00AM
UK Regulatory
TIDMSUPP
RNS Number : 9548U
Schroder UK Public Private Tst plc
09 April 2021
Schroder UK Public Private Trust plc (the "Company")
Sanofi completes Kymab acquisition
The Company (LSE: SUPP) is pleased to announce the completion of
the sale of its shares in Kymab Group Ltd. ("Kymab") to Sanofi. The
Company will receive initial proceeds of approximately US$82
million. Furthermore, the Company has the potential for additional
contingent payments of up to US$33 million subject to a deferred
purchase price release and Kymab achieving certain development and
regulatory milestones.
For further information on the completed transaction, investors
can refer to the announcement made by the Company on 11(th) January
2021.
The Company's holding in Kymab has been revalued to GBP70m
reflecting the terms of the agreed sale generating a fair value
gain of GBP52m when compared with the holding value of GBP18m as at
30 September 2020. The Company intends to publish a full portfolio
analysis at the time of the Company's Annual Report for the year
ended 31 December 2020 alongside the audited NAV as at 31 December
2020, which is expected to be announced later this month.
The Company intends to use the proceeds to pay down its loan
balance, support some of its portfolio companies with follow-on
capital and to make new investments into both public and private
companies.
Enquiries:
Schroder Investment Management Limited
Estelle Bibby (Press) 0207 658 3431
Gareth Faith (Company Secretary) 0207 658 5264
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