RNS Number : 5696Y
EKF Diagnostics Holdings PLC
24 December 2010
 



EKF Diagnostics Holdings Plc

("EKF" or the "Company")

 

Disposal of Admiral Sportswear Brand

 

EKF Diagnostics Holdings plc (AIM: EKF), the AIM listed point-of-care diagnostics business, announces that it has entered into agreement to dispose of its remaining rights in the Admiral sportswear brand for a cash consideration of approximately £830,000. Approximately £83,000 will be paid on exchange with the balance payable on or prior to 28 January 2011.

 

This has resulted in the total consideration for the disposal of the remaining territories in 2010 exceeding £1.8m.

 

Since embarking upon our disposal strategy in 2005, the Group has raised circa £10m through the disposal of Mountain Equipment, Admiral and various sponsorship terminations.   

 

Julian Baines, EKF, CEO commented: "Since my arrival at EKF Plc and the re-focussing of the Group into a vitro diagnostic's business, we have sought the disposal of non-core assets and I am delighted that we have now concluded the sale of the remaining Admiral sportswear territories, the net proceeds will be used to further enhance the growth of our underlying business."          

 

 Enquiries:

 

EKF Diagnostics Holdings plc


Julian Baines, CEO

Mob: 07788 420 859

Paul Foulger, FD

Tel: 020 7823 1733



Zeus Capital


Nominated Adviser and Joint Broker

Tel: 0161 831 1512

Ross Andrews


Tom Rowley




Matrix Corporate Capital LLP

Tel: 020 3206 7000

Joint Broker


Robert Naylor


Stephen Waterman




Walbrook PR


Fiona Henson

fiona.henson@walbrookpr.com

Tel: 020 7933 8795

Helen Westaway

helen.westaway@walbrookpr.com

Tel: 020 7933 8790

 

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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admin Disposal of Admiral Sportswear Brand 3932376 A Fri, 12/24/2010 - 07:00 Mergers, Acquisitions and Disposals EKF