REG - Amala Foods PLC - Result of AGM

Amala FoodsAnnouncement

04/01/2024 07:00

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RNS Number : 6455Y  Amala Foods PLC  04 January 2024

 

Amala Foods Plc

("Amala" or the "Company")

 

Result of Annual General Meeting

 

Amala Foods Plc (LON: DISH) is pleased to announce that all Resolutions were
duly passed at the Annual General Meeting held on 29 December 2023.

The Company is pleased to update the market that the transaction that was
announced on 9 November 2023 and 1 December 2023 (Proposed Reverse Takeover)
continues to progress.  As previously announced the target company is a newly
formed healthcare group, Healthcare Medical Plus Pte Ltd with a Philippine
subsidiary, Dialysis Care Plus Inc, that is building dialysis centres in the
Philippines where the market for dialysis services is growing substantially
every year.

Chronic Kidney Disease (CKD) is a leading cause of death globally and causes
more deaths than breast cancer or prostate cancer.  It is the
under-recognized public health crisis.  In the Philippines the market for
dialysis services has been growing exponentially.  The government owned and
controlled corporation, Philippine Health Insurance Corporation (PhilHealth),
announced in 2023 the expansion of its coverage of hemodialysis to 156
hemodialysis sessions per year.

The team has an excellent track record with internationally known healthcare
groups in the USA as well as locally in the Philippines.

Whilst the Directors are confident that the Proposed Reverse Takeover will be
concluded prior to the end of the first quarter of 2024, there remain a number
of regulatory consents that are normal for a transaction of this type that
need to be obtained prior to the Proposed Reverse Takeover being concluded.
Therefore, there can be no guarantee that the Proposed Reverse Takeover will
be concluded, but the Company's shares will remain suspended while the
transaction is ongoing.

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
THE MARKET ABUSE REGULATION EU 596/2014 ("MAR").

 

Enquiries:

 

Jonathan Morley-Kirk, Non-Executive Chairman

jmk@bluebirdmv.com (mailto:jmk@bluebirdmv.com)

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