EKF Diagnostics Holdings plc
("EKF", the "Company" or the "Group")
Result of Offer
On 20 March 2014, EKF Diagnostics Holdings plc (AIM: EKF) announced an issue of equity to raise £22.0 million (before expenses) by way of a Firm Placing and Conditional Placing. In conjunction with the Placing, the Board also announced details of an Offer to Qualifying Participants to raise up to an additional £4.0 million (before expenses).
The Company is pleased to announce that, at the close of the Offer at 11.00 a.m. on 9 April 2014, Qualifying Participants had applied for 11,428,571 New Ordinary Shares at a price of 35 pence per Offer Share, raising an additional £4.0m (before expenses). The Offer was oversubscribed.
The final condition preceding Admission of the Offer Shares is approval by Shareholders of the Resolutions to be proposed at the General Meeting, convened for 10.30 a.m. on 11 April 2014.
Definitions used in this announcement will have the same meaning as those used in the Circular, unless the context requires otherwise.
Enquiries:
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EKF Diagnostics Holdings plc |
Tel: 029 2071 0570 |
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David Evans, Executive Chairman |
Mob: 07740 084 452 |
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Julian Baines, CEO |
Mob: 07788 420 859 |
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Paul Foulger, CFO |
Mob:07710 989 255 |
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Canaccord Genuity Limited
Nominated Adviser/Corporate Broking |
Tel: 020 7523 8000 |
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Lucy Tilley /Julian Feneley /Henry Fitzgerald-O'Connor /Chris Connors |
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Walbrook PR Limited |
Tel: 020 7933 8780 |
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Paul McManus |
Mob: 07980 541 893 or paul.mcmanus@walbrookpr.com |
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Paul Cornelius |
Mob: 07866 384 707 or paul.cornelius@walbrookir.com |
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About EKF Diagnostics Holdings plc - www.ekfdiagnostics.com
EKF Diagnostics Holdings plc was formed in July 2010 following the acquisition of EKF-diagnostic GmbH for €14.32m and refocused its strategy to one of building a substantial point of care diagnostics business. As part of this strategy, the Group has integrated three further acquisitions, Quotient Diagnostics Limited (acquired in September 2010), Argutus Medical Limited (acquired in December 2010) and Stanbio Laboratory L.P. (acquired in June 2011). In 2013 EKF established a new subsidiary, EKF Molecular Diagnostics Ltd, to focus on molecular and companion diagnostics and acquired 360 Genomics Ltd, a business that owns diagnostics technologies for cancer gene detection.
The Company, with its head office in Cardiff and operations in London, Germany, Poland, Russia, Ireland and the US, is a leading diagnostics business, focussing on the development, production and distribution of chemical reagents and analysers for the testing of Glucose, Lactate, Haemoglobin, Haematocrit and HbA1c.
In March 2011 EKF entered into a distribution agreement with Alere Inc ("Alere"), a global diagnostics company, under which Alere was appointed the exclusive distributor of EKF's CLIA waived Hemo Control device and cuvettes in the US, Canada and United Kingdom. The device is distributed in the US under the name HemoPoint H2.