REG - Syncona Limited - Achilles announces solvent voluntary liquidation

SynconaAnnouncement

05/02/2025 07:00

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RNS Number : 9207V  Syncona Limited  05 February 2025

5 February 2025

 

Syncona Limited

 

Achilles announces solvent voluntary liquidation

 

Syncona Ltd ("Syncona"), a leading life science investor focused on creating,
building and scaling a portfolio of global leaders in life science, notes that
its investment Achilles Therapeutics plc ("Achilles") has announced that its
Board has recommended to undertake a members' solvent voluntary liquidation of
Achilles and return capital to shareholders. Key details include:

 

·    The Achilles Board has determined that it would be in the best
interests Achilles and its shareholders to put proposals to shareholders to
undertake a members' voluntary liquidation of Achilles to return capital to
shareholders

·    Based on the information currently available to Achilles and, if the
shareholders approve the Proposals and associated Resolutions, it is currently
expected that the amount of capital to be returned by the Joint Liquidators to
ordinary shareholders through the liquidation will be approximately £1.20 to
£1.32 per share or $1.50 to $1.66 per share 1 .

·   Syncona currently holds 11,086,909 American Depositary Shares (ADSs),
representing 11,086,909 ordinary shares in Achilles

·    The general meeting is expected to take place at 2:00pm GMT on 20
March, with the initial distribution to shareholders expected to take place
6-8 weeks later

 

As of 30 September 2024, Syncona's holding value in Achilles was £8.5
million, equating to 0.7% of Syncona's Net Asset Value.

 

Achilles' Form 6-K can be accessed on the company's website
at https://achillestx.com/ (https://achillestx.com/) . Defined terms refer to
language used within this filing.

 

 

Enquiries

 

Syncona Ltd

 

Natalie Garland-Collins / Fergus Witt

Tel: +44 (0) 20 3981 7940

 

FTI Consulting

 

Ben Atwell / Tim Stamper

Tel: +44 (0) 20 3727 1000

 

About Syncona

 

Syncona's purpose is to invest to extend and enhance human life. We do this by
creating, building and scaling companies to deliver transformational
treatments to patients in areas of high unmet need.

 

We aim to build and maintain a diversified portfolio of 20-25 globally leading
life science businesses, across development stage, modality and therapeutic
area, for the benefit of all our stakeholders. We focus on developing
treatments that deliver patient impact by working in close partnership with
world-class academic founders and experienced management teams. Our balance
sheet underpins our strategy, enabling us to take a long-term view as we look
to improve the lives of patients with no or poor treatment options, build
sustainable life science companies and deliver strong risk-adjusted returns to
shareholders.

 

Forward-looking statements - this announcement contains certain
forward-looking statements with respect to the portfolio of investments of
Syncona Limited. These statements and forecasts involve risk and uncertainty
because they relate to events and depend upon circumstances that may or may
not occur in the future. There are a number of factors that could cause actual
results or developments to differ materially from those expressed or implied
by these forward-looking statements. In particular, many companies in the
Syncona Limited portfolio are conducting scientific research and clinical
trials where the outcome is inherently uncertain and there is significant risk
of negative results or adverse events arising. In addition, many companies in
the Syncona Limited portfolio have yet to commercialise a product and their
ability to do so may be affected by operational, commercial and other risks.

 

Syncona Limited seeks to achieve returns over the long term. Investors should
seek to ensure they understand the risks and opportunities of an investment in
Syncona Limited, including the information in our published documentation,
before investing.

 1  Exchange rate as of 31 December 2024

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