REG - Integrated Diag Hdgs - IDH CEO increases stake in the Company

Integrated Diagnostics HoldingsAnnouncement

25/10/2023 07:15

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RNS Number : 1555R  Integrated Diagnostics Holdings PLC  25 October 2023

IDH CEO increases stake in the Company

25 October 2023

(Cairo and London) - Integrated Diagnostics Holdings ("IDH," "the Group," or
"the Company"), a leading provider of diagnostics services with operations in
Egypt, Jordan, Nigeria, Sudan, and soon launching in Saudi Arabia, announced
today that its Chief Executive Officer, Dr. Hend El Sherbini, has completed
the purchase of an additional 2.0 million shares in the Company. The purchases
were completed between 10 October 2023 and 16 October 2023 by Hena Holdings
Limited ("Hena Holdings"), the vehicle through which Dr. El Sherbini owns her
shares, and were announced on the London Stock Exchange (LSE).

Hena Holdings remains the single largest shareholder in the Company with 162.4
million shares and a stake of 27.07%, up from the previously held 26.71%
stake. Dr. El Sherbini had previously purchased additional shares in the
Company in August 2022, acquiring 7.3 million shares and increasing her stake
in the Company to 26.71% from 25.50% (which she had held since the Company's
initial IPO).

Commenting on the purchase, Dr. Hend El Sherbini, said: "The decision to
further increase my stake in the Company underscores my confidence in the
strength and resilience of IDH's business model and in its growth potential
over the coming years. Despite the ongoing economic uncertainty, the Company
has continued to perform well, delivering robust growth and solid
profitability while making progress on our post-Covid-19 growth and value
creation strategy. In the coming months, we will be adding a fifth geography
to our portfolio, bringing our superior quality and expertise to thousands of
Saudi Arabian patients. We are excited for what lies ahead as we continue to
expand our footprint, service offering and capabilities to generate
sustainable growth and value for our stakeholders and capitalise on the
important growth opportunities offered by our markets."

It is important to note that the stock purchases were completed before the
start of the closed period leading up to the release of IDH's 9M 2023 earnings
report.

In addition to Hena Holdings' purchases, Lord St John of Bletso, IDH's
Chairman of the Board of Directors completed the purchase of 30 thousand
shares in the Company earlier this year. Ms. Yvonne Stillhart, a member of the
Board of Directors also purchased 230 thousand shares in the Company in April
of this year. It is worth highlighting that transactions completed by Hena
Holdings, Lord St John of Bletso, and Ms. Yvonne Stillhart were conducted on
the London Stock Exchange.

-Ends-

 

About Integrated Diagnostics Holdings (IDH)

IDH is a leading diagnostics services provider in the Middle East and Africa
offering a broad range of pathology and radiology tests to patients in Egypt,
Jordan, Nigeria and Sudan. The Group's core brands include Al Borg, Al-Borg
Scan and Al Mokhtabar in Egypt, as well as Biolab (Jordan), Ultralab and Al
Mokhtabar Sudan (both in Sudan) and Echo-Lab (Nigeria). A long track record
for quality and safety has earned the Company a trusted reputation, as well as
internationally recognised accreditations for its portfolio of over 2,000
diagnostics tests. From its base of 552 branches as of 31 December 2022, IDH
served over 8.7 million patients and performs more than 32.7 million tests in
2022. IDH will continue to add laboratories through a Hub, Spoke and Spike
business model that provides a scalable platform for efficient expansion.
Beyond organic growth, the Group's expansion plans include acquisitions in new
Middle Eastern, African, and East Asian markets where its model is well-suited
to capitalise on similar healthcare and consumer trends and capture a
significant share of fragmented markets. IDH has been a Jersey-registered
entity with a Standard Listing on the Main Market of the London Stock Exchange
(ticker: IDHC) since May 2015 with a secondary listing on the EGX since May
2021 (ticker: IDHC.CA). Learn more at idhcorp.com (http://idhcorp.com) .

 

Contact

Nancy Fahmy

Investor Relations Director

T: +20 (0)2 3345 5530 | M: +20 (0)12 2255 7445 | nancy.fahmy@idhcorp.com
(mailto:nancy.fahmy@idhcorp.com)

 

LEI: 2138007JN9NUWKKTS790

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