REG - EKF Diagnostics Hldg - Share Buyback

EKF Diagnostics HoldingsAnnouncement

01/04/2025 07:15

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RNS Number : 0214D  EKF Diagnostics Holdings PLC  01 April 2025

 

EKF Diagnostics Holdings plc

("EKF" or the "Company")

 

Share Buyback

 

EKF Diagnostics Holdings plc (AIM: EKF), the AIM-listed global diagnostics
business, announces that it has purchased a total of 700,000 of its ordinary
shares of 1p each in the capital of the Company ("Ordinary Shares") at a
weighted average price of 22.0 pence per share. The Ordinary Shares purchased
will be held in treasury.

 

The Company intends to conduct further on-market purchases of up to c.£1.0m,
pursuant to the authorities obtained at the Company's last annual general
meeting held on 14 May 2024.

 

Aggregated information

 

 Date of purchase                       31 March 2025
 Number of Ordinary Shares purchased    700,000
 Highest price paid per Ordinary Share  22p
 Lowest price paid per Ordinary Share   21.9p
 Volume weighted average price paid     22.0p

 

 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
 110,000                              22.0p                    08:45:40             AIMX
 100,000                              22.0p                    13:10:58             AIMX
 142,886                              21.9p                    13:15:56             AIMX
 141,154                              22.0p                    15:35:27             AIMX
 205,960                              22.0p                    16:05:39             AIMX

 

Total voting rights

 

Following the purchase, the Company's total issued share capital will consist
of 454,930,564 Ordinary Shares each carrying one voting right, of which
1,900,000 Ordinary Shares are held in treasury. Therefore, the total number of
Ordinary Shares carrying voting rights will be 453,030,564. 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.

 

Christopher Mills, Non-Executive Director of the Company, is the Chief
Investment Officer of Harwood Capital Management (Gibraltar) Limited
("Harwood"), which is investment manager to Oryx International Growth Fund
Limited ("Oryx") and Chief Investment Officer of North Atlantic Smaller
Companies Investment Trust PLC ("NASCIT"). Mr. Mills is a director and
shareholder in Oryx and also a director and shareholder in NASCIT. Oryx and
NASCIT hold 37,000,000 and 96,000,000 Ordinary Shares, respectively, and
133,800,000 Ordinary Shares in aggregate (with 800,000 Ordinary Shares held by
Harwood Capital LLP), which is equivalent to approximately 29.49% of the
current total voting rights in the Company.  Harwood will facilitate the
participation of these entities in the share buy back pro rata to their
existing aggregate holding, with the intention that the aggregate indirect
beneficial interest of Mr. Mills remains at approximately this level and in
any event does not exceed 30.00% of the prevailing total voting rights in the
Company following any repurchases. This is solely in order for Mr. Mills and
the above connected entities (which are, unless otherwise established, deemed
to be acting in concert in accordance with the City Code on Takeovers and
Mergers) to avoid otherwise being subject to an obligation under the City Code
on Takeovers and Mergers to make a mandatory offer for the Company's entire
share capital or to obtain the requisite shareholder approval for a waiver
from the Takeover Panel from such obligation.

 

PDMR dealing

 

As part of the buyback and within the above aggregate purchase, EKF acquired
205,960 Ordinary Shares at a price 22.0 pence per share from Harwood as
investment manager to Oryx. Harwood has facilitated this transaction solely in
order to ensure that the aggregate indirect beneficial interest of Mr. Mills
remains at approximately the same level and in any event does not exceed 30%
of the prevailing total voting rights in the Company following any
repurchases.

 

Following the above sale of Ordinary Shares by Oryx to the Company, Mr. Mills'
aggregate indirect interest in the Company is 133,594,040 Ordinary Shares.

 

Additional disclosures relating to this PDMR dealing are detailed below.

 

 

This announcement contains inside information for the purposes of Article 7 of
EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the
European Union (Withdrawal) Act 2018).

 

 

The person responsible for arranging the release of this Announcement

on behalf of the Company is Julian Baines, Executive Chair.

 

 

 EKF Diagnostics Holdings plc                                www.ekfdiagnostics.com (http://www.ekfdiagnostics.com)
 Julian Baines, Executive Chair                               via Walbrook PR
 Gavin Jones, Chief Executive Officer
                                                                                           Tel: +44 (0)20 7496 3000

 Singer Capital Markets (Nominated Adviser & Broker)
 Phil Davies / Oliver Platts

 Walbrook PR Limited              Tel: +44 (0)20 7933 8780 or ekf@walbrookpr.com (mailto:ekf@walbrookpr.com)
 Paul McManus / Alice Woodings    Mob: +44 (0)7980 541 893 / +44 (0)7407 804 654

 

 

 

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

 

EKF is an AIM-listed global diagnostics business focussed on:

 

 ●    Point-of-Care analysers in the key areas of Hematology and Diabetes
 ●    Life Sciences services provide specialist manufacture of enzymes and custom
      products for use in diagnostic, food and industrial applications.

 

EKF has headquarters in Penarth (near Cardiff) and operates five manufacturing
sites across the US and Germany, selling into over 120 countries world-wide.

 

Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them

 

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         Christopher Mills

 2    Reason for the notification

 a)   Position/status                                              Non-Executive Director

 b)   Initial notification /Amendment                              Initial Notification

 3    Details of the issuer, emission allowance market participant, auction
      platform, auctioneer or auction monitor
 a)   Name                                                         EKF Diagnostics Holdings plc
 b)   LEI                                                          213800DXTF3EAUK1AR05

 4    Details of the transaction(s): section to be repeated for (i) each type of

    instrument; (ii) each type of transaction; (iii) each date; and (iv) each
      place where transactions have been conducted

 a)   Description of the financial instrument, type of instrument  Ordinary Shares of 1 pence each

      Identification code                                          GB0031509804

 b)   Nature of the transaction                                    Disposal of Ordinary Shares

 c)   Price(s) and volume(s)

                                                                                     Price(s)          Volume(s)
                                                                                     22p               205,960

 d)   Aggregated information

      - Aggregated volume                                          n/a

      - Price

 e)   Date of the transaction                                       31 March 2025

 f)   Place of the transaction                                     London Stock Exchange, AIMX

 

 

 

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