SYNCONA LS

Syncona has announced the issuance of 9,330 new ordinary shares to meet obligations under a long-term incentive plan. The new shares represent around 0.002% of existing ordinary shares and were calculated based on a mid-price of £1.07 per share; recipients may not sell or transfer the shares for one year. The company has applied for admission to the official market; trading is expected to commence on Thursday. » Más en de.investing.com

Shareholders of Syncona approved the new investment strategy with around 89.6% and the new long-term incentive schemes with 89.4%. As of the record date there were 672,549,420 issued ordinary shares, of which 64,356,396 were treasury shares; voting rights amounted to 608,193,024. Rob Hutchinson has resigned from the board; the board intends to appoint a new non-executive member with investment company expertise and to keep the total number of members at five. All resolutions passed at the general meeting will be submitted to the National Storage Mechanism and are set out in the explanatory circular. » Más en de.investing.com

Syncona is putting proposals to shareholders to change its investment policy and the investment team's remuneration. Plans include a review of capital allocation within two years or after the return of £250m, and a cap on new investments in early-stage companies at £15m each for the financial years ending September 2026 and 2027 and a maximum of 5% of NAV as of 30 September 2025. The new remuneration structure ties bonuses to the realisation of portfolio assets and allows partial payments in market-purchased Syncona shares. The Wellcome Trust, with around 30.58% of voting rights, has announced its support. » Más en de.investing.com