Sinclair Pharma settles payoff dispute

Specialty pharmaceuticals company Sinclair Pharma has settled the dispute with former chief executive Michael Flynn and finance director Jerry Randall.Terms of compromise agreements handed £375,000 to Flynn and Randall, today's settlement is for a total of just £175,000, while the number of shares the pair will receive is halved to 1.09m.The company said it has now settled all outstanding employee disputes arising from the restructuring in late 2009 and expects to be able to write back restructuring charges of about £0.5m in its interim results to 31 December 2010.