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Schroder UK PublicPT (SUPP)

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Friday 09 April, 2021

Schroder UK PublicPT

Sanofi completes Kymab acquisition

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 11th January 2021.

The Company's holding in Kymab has been revalued to £70m reflecting the terms of the agreed sale generating a fair value gain of £52m when compared with the holding value of £18m 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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