0Y71 Malin Corporation Plc

TIDM0Y71

RNS Number : 8920U

Malin Corporation PLC

09 April 2021

Malin Corporation plc

Completion of sale of Kymab

Dublin-Ireland, 9 April 2021 : Malin Corporation plc. (Euronext Growth Dublin:MLC) ("Malin" or "the Company"), a company investing in highly innovative life sciences companies, today announces the completion of the previously announced sale of its investee company, Kymab, to Sanofi, for an upfront payment of approximately $1.1 billion and up to $350 million upon achievement of certain milestones.

The sale of Kymab delivers gross upfront proceeds to Malin of $113 million (approximately EUR95 million), with the potential to receive up to a further $33 million on the achievement of certain milestones. Malin will immediately commence the process to repay the full outstanding amount of European Investment Bank debt of EUR45 million. While the Company progresses the necessary preparatory steps to initiate capital returns to shareholders during the second half of 2021, the structure of which remains under consideration, the Company expects to commence buying back shares in the market within the existing authority granted by shareholders. Any decision to repurchase shares will be within the existing authority granted by shareholders. The Company's joint brokers, Davy and Liberum, would act as principals in relation to any repurchase of shares undertaken by Company.

ENDS

About Malin Corporation plc

Malin (Euronext Growth Dublin:MLC) is a company investing in highly innovative life sciences companies. Its purpose is to create shareholder value through the application of long-term capital and operational and strategic expertise to a diverse range of global healthcare businesses. Malin has a focus on innovative businesses underpinned by exceptional science and works with its investee companies, providing strategic and financial support to enable them to reach their value potential. Malin is headquartered and domiciled in Ireland and listed on the Euronext Growth Dublin. For more information visit www.malinplc.com

For further information contact:

Malin

Jessica Bergin, Investor Relations & External Reporting

Tel: +353 (0)1 901 5700

investorrelations@malinplc.com

Davy Corporate Finance (Euronext Growth Adviser & Joint Broker)

Brian Garrahy / Daragh O'Reilly

Tel: +353 1 679 6363

Liberum (Joint Broker)

Bidhi Bhoma / Euan Brown

Tel: +44 (0) 20 3100 2000

Powerscourt (Irish media enquiries)

Jack Hickey / Eavan Gannon

Tel: +353 83 448 8339

malin@powerscourt-group.com

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(END) Dow Jones Newswires

April 09, 2021 03:00 ET (07:00 GMT)

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