Media File: 1983
Sinclair in the News

Financial Times
January 5, 1983

Sinclair Research 10% private placing imminent

THE long-awaited private placing of shares in Sinclair Research is imminent. A presentation today at the offices of NM Rothschild to a selected number of institutions, will be followed by a private placing of 10 per cent of the company's capital. The stake currently forms part of the 95 per cent holding of Mr Clive Sinclair, the founder chairman.

NM Rothschild said yesterday that "it is ultimately Sinclair Research's intention to seek a quotation."

The pricing of the shares has not been completed, but it is thought that the 10 per cent stake could realise as much as £20m, valuing the company at £200m - about the same size as ICL.

NM Rothschild said that the reason for the placing was that Mr Sinclair wished to realise some of his investment, although a Sinclair Research spokesman insisted that 'the purpose is to fund research and development on future projects without milking the computer business for cash."

Sinclair's most ambitious current project is the development of an electric car, the final prototype of which is due to be revealed in 1984.

NM Rothschild said yesterday that the electric car project "is not included in Sinclair Research as far as this placing is concerned. We will be asking the institutions to make a decision on the basis of an investment memorandum prepared by us, but the pricing has not been finalised."

In the year to March 1982 Sinclair Research made pre-tax profits of £10m on turnover of £27m. Sinclair Research said yesterday that a profits forecast was not possible but that turnover in the current year could amount to £50m.