REG - Amala Foods PLC - Transaction Update

Amala FoodsAnnouncement

24/04/2024 07:00

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RNS Number : 7917L  Amala Foods PLC  24 April 2024

 

Amala Foods Plc

("Amala" or the "Company")

 

Transaction Update

 

Amala Foods Plc (LON: DISH) is pleased to announce a further update following
the Temporary Suspension of its listing on the Standard Segment of the
Official List of the Main Market that was first announced on 9 November 2023
and subsequently on 4 January 2024.

The Company is pleased to update the market that the announced transaction
continues to progress.  The Company has made further prospectus submissions
to the Financial Conduct Authority (FCA) and anticipates its next submission
within the coming weeks once the audited numbers of the target company are
available.

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, which is building dialysis centres in the Philippines where the
market for dialysis services is growing substantially every year.  The group
continues to grow and has executed agreements to acquire, prior to Admission,
of a diagnostic centre, that has a multiyear positive track record.  In
addition, the group has formed a new subsidiary, VidaHealth Inc which has
funded a new diagnostic clinic where it has a 70% interest and has an Option
to build a further 50 diagnostic centres.

The Directors are targeting that the transaction will be concluded in the
summer of 2024 and the Directors will provide further updates to the market in
due course.

Whilst the Directors are confident that a successful transaction will result
in a Reverse Takeover, subject to regulatory approval, there can be no
guarantee of such.

 

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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