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

Integrated Diagnostics HoldingsAnnouncement

16/08/2022 14:15

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RNS Number : 2148W  Integrated Diagnostics Holdings PLC  16 August 2022

IDH CEO ups stake in the Company

The transaction underscores Dr. El Sherbini's confidence in the Company's
strategy and future growth potential

16 August 2022

(Cairo and London) - Dr. Hend El Sherbini, Integrated Diagnostics Holdings'
chief executive officer, has purchased 7.3 million additional shares in the
Company. This is in line with her commitment to deliver on the Company's
growth and value creation strategy. The purchases were completed between 1
August and 12 August 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). Following the transaction, Hena Holdings' stake
in IDH has increased to 26.71% from 25.5%, continuing to represent the single
largest interest in the Company.

Dr. Hend El Sherbini, commented: "I am very pleased to have increased my stake
in IDH. Today, IDH stands as a regional leader in the diagnostics space,
delivering high quality services to millions of patients across our four
markets of operations. During the past two years, despite an unprecedentedly
difficult operating environment, we have worked tirelessly to improve all
aspects of the business and have laid solid foundations on which to build our
next phase of development and value creation. As evidenced by my recent stock
purchases, I firmly believe that we are well-placed to take full advantage of
the vast growth opportunities offered by our markets, and I am excited to
continue delivering superior value to our patients and shareholders."

It is important to note that the stock purchases were terminated before the
start of the closed period leading up to the release of the Company's 1H 2022
earnings report.

-Ends-

 

About Integrated Diagnostics Holdings (IDH)

IDH is a leading consumer healthcare company in the Middle East and Africa
with operations in Egypt, Jordan, Sudan and Nigeria. 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 520 branches
as of 31 March 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)

 

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