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Schroders Capital Global Innovation Trust plc received a $5.8 million (c. £4.6 million) distribution. This payment is related to the first milestone of the Company's April 2021 Kymab sale to Sanofi, which initially generated $87 million (£65 million) with a potential for up to $27 million in contingent payments. The announcement stated there is potential for $21 million of further contingent payments, and the c. £4.6 million will be reflected in the Company's unaudited NAV per share dated February 2, 2024.
| Date | 5 Feb 2024 |
| Time | 07:00:08 |
| Category | Miscellaneous |
| ID | 9395B |
Schroders Capital Global Innovation Trust Plc
Kymab milestone payment
Schroders Capital Global Innovation Trust plc (the "Company") is pleased to announce that it has received a $5.8 million (c. £4.6 million) distribution related to the first milestone of the Kymab sale to Sanofi.
In April 2021, the Company announced the completion of the sale of its shares in Kymab to Sanofi, generating initial proceeds of $87 million (£65 million). At that time, the Company explained there was the potential for additional contingent payments of up to $27 million (£20 million) subject to the achievement of various development and regulatory milestones. This announced payment reflects the first milestone event, with the potential for $21 million of further contingent payments in the future.
This uplift of c. £4.6 million will be reflected in the Company's unaudited NAV per share, dated Friday 2 February 2024, published later today.
Enquiries:
Schroder Investment Management Limited
|
Shilla Pindoria (Company Secretary) |
0207 658 6000 |
|
Augustine Chipungu (Press) |
0207 658 2106 |
|
John Spedding (Head of Investment Trusts) |
0207 658 3206 |