18 Oct 2018 07:00
Toscafund Asset Management LLP
Disclosure under Rule 2.10(c) of The City Code on Takeovers and Mergers
Toscafund Asset Management LLP ("Toscafund") provided a non-binding letter of intent to Huadong Medicine Aesthetics Investment (Hong Kong) Limited on 28 August 2018 regarding the proposed acquisition of Sinclair Pharma plc ("Sinclair") as referred to in the announcement of the recommended cash offer on 18 September 2018.
The non-binding letter of intent was for 148,613,603 ordinary shares of 1p each in Sinclair Pharma plc.
On 16 October 2018 Sinclair announced that following a disposal, Toscafund no longer intended to comply with the letter of intent in respect of 92,000,000 ordinary shares of 1p each in Sinclair Pharma plc.
In accordance with Rule 2.10(c) of The City Code on Takeovers and Mergers it is today confirmed that following a further disposal of 56,613,603 ordinary shares of 1p each in Sinclair Pharma plc Toscafund no longer intends to comply with the letter of intent in respect of any ordinary shares of 1p each in Sinclair Pharma plc.