(RTTNews) - Syncona announced a set of proposals which seek to maximise value for shareholders. The board is proposing: to focus on the return of 250 million pounds of net proceeds to shareholders, from any potential sales of mature private portfolio companies; and a new investment objective and policy and capital allocation policy with an initial focus on realising maximum value from Syncona's mature portfolio companies in a timely manner and then to return cash to shareholders; a change to the composition of the Board; an intention to optimise the cost base; and to support SIML in seeking to establish a new private fund, independent from Syncona, to diversify its funding sources.
Once 250 million pounds has been returned to shareholders, Syncona will return to focusing on achieving long-term capital appreciation by funding new life science investments and existing portfolio companies, seeking to build a portfolio of 20-25 companies. Also, the Board will, following guidance from SIML, no longer seek to achieve its 2032 targets, including the ambition to grow assets to 5 billion pounds by 2032.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
