REG - EKF Diagnostics Hldg - Purchase of Own Shares & Buyback Prog. Completion

EKF Diagnostics HoldingsAnnouncement

11/04/2022 07:00

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RNS Number : 8753H  EKF Diagnostics Holdings PLC  11 April 2022

EKF Diagnostics Holdings plc

("EKF" or the "Company")

 

Purchase of Own Shares

& Completion of Share Buyback Programme

 

EKF, the AIM-listed global diagnostics business, announces that it has
purchased a further 200,000 of its ordinary shares at a price of 40 pence per
share. The ordinary shares purchased will be held in treasury.

 

This transaction marks the successful conclusion of the share buyback
programme as set out in the announcement on 29 March 2022. Under that
programme, a total of 9,000,000 ordinary shares were purchased at an average
cost of 43.29 pence per share. Buying back this amount of ordinary shares at
current levels more than offsets the dilutive effect of the new ordinary
shares issued in 2021.

 

Aggregated information related to the most recent Purchase of Own Shares

 

 Date of purchase                     8 April 2022
 Number of ordinary shares purchased  200,000
 Highest price paid per share         40
 Lowest price paid per share          40
 Volume weighted average price paid   40

 

Transaction details

 

In accordance with Article 5(1)(b) of Regulation (EU) No 596/2014 (the Market
Abuse Regulation) (which forms part of domestic UK law pursuant to the
European Union (Withdrawal) Act 2018), a detailed breakdown of individual
trades is available below:

 

 Number of ordinary shares purchased  Transaction price (GBp)  Time of transaction  Trading venue
 200,000                              40                       08:24:00             AIMX

 

Total voting rights

 

Following the purchase, the Company's total issued share capital will consist
of 463,930,564 ordinary shares of 1 pence each ("Ordinary Shares") each
carrying one voting right, of which 9,000,000 Ordinary Shares are held in
treasury. Therefore, the total number of Ordinary Shares carrying voting
rights will be 454,930,564. This figure may be used by shareholders as the
denominator for the calculations by which they will determine if they are
required to notify their interest in, or a change to their interest in, the
Company under the FCA's Disclosure Guidance and Transparency Rules.

 

 
 EKF Diagnostics Holdings plc                  www.ekfdiagnostics.com (http://www.ekfdiagnostics.com)
 Mike Salter, CEO                               Tel: +44 (0)29 2071 0570
 Marc Davies, CFO

 Singer Capital Markets (Nominated Adviser & Joint Broker)                              Tel: +44 (0)20 7496 3000
 Aubrey Powell / George Tzimas / Tom Salvesen

 Investec Bank plc (Joint Broker)              Tel: +44 (0)20 7597 4000
 Gary Clarence / Daniel Adams / Ben Farrow

 Walbrook PR Limited                           Tel: +44 (0)20 7933 8780 or ekf@walbrookpr.com (mailto:ekf@walbrookpr.com)
 Paul McManus / Lianne Applegarth              Mob: +44 (0)7980 541 893 / +44 (0)7584 391 303

 

About EKF Diagnostics Holdings plc (www.ekfdiagnostics.com
(http://www.ekfdiagnostics.com) )

EKF is a leading global diagnostics business with custom manufacturing
facilities across sites in the US, UK and Europe for a variety of life science
products. EKF is focussed on the following areas:

 

 Point-of-Care             Providing a portfolio of Point-of-Care analysers and consumables, particularly
                           for use in the area of Hematology and Diabetes, for use in hospital and
                           research laboratories, doctor's offices, blood banks and for in-field anaemia
                           screening programmes. EKF has an estimated 80,000 hemoglobin, hematocrit,
                           HbA1c, glucose and lactate analysers in regular use across more than 100
                           countries.

 Central Laboratory        Clinical chemistry, Small lab analysers, Centrifuges

                           Beta-Hydroxybutyrate (β-HB) LiquiColor, Glycates Albumin, Glycated Serum
                           Protein, Nitro-tab, Procalcitonin

 Life Sciences             Enzyme fermentation, Custom products and Bulk fermentation

 Contract Manufacturing    Bulk formulation, Sample collection kits, Private labelling, Molecular and
                           forensic kits

 Laboratory Services       In September 2021, EKF completed the acquisition of Advanced Diagnostic
                           Laboratory LLC ("ADL Health"), a Texas based testing laboratory certified
                           under the Clinical Laboratory Improvement Amendments ("CLIA") for high
                           complexity testing. The laboratory provides testing for a variety of clinical,
                           forensic and microbiological sample types using a range of analytical
                           techniques. This acquisition positions EKF as a leading 'one stop' provider of
                           diagnostic products and services from sample collection to results.

 

In May 2021, EKF announced its strategy for delivering growth to 2024 and
beyond, and continuing to deliver shareholder value. The strategy for growth
can be summarised as:

 

 •    continuing innovation in products and services in Point-of-Care, Central
      Laboratory and Life Sciences leveraging new and existing routes to market and
      relationships;
 •    investment in expanded production and kitting capabilities to offer a suite of
      diagnostic Contract Manufacturing solutions to third party businesses;
 •    expansion of CLIA Laboratories Testing offering, building on the acquired
      capabilities in ADL Health; and
 •    identify complementary earnings-enhancing acquisitions with key strategic
      value.

 

EKF will also continue to generate enhanced shareholder value through:

 

 •    a progressive dividend policy; and
 •    its agreement with Mount Sinai Innovation Partners ("MSIP"), which allows us
      advanced access to innovative commercial opportunities and where we can build
      on the ongoing successes of Renalytix plc, Verici Dx plc and Trellus Health
      plc.

 

 

 

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