REG - Novacyt S.A. - Update on Taiwan laboratory disposal

Novacyt SAAnnouncement

21/12/2023 07:15

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RNS Number : 5332X  Novacyt S.A.  21 December 2023

 

Novacyt S.A.

("Novacyt", the "Company" or the "Group")

 

Update on Taiwan laboratory disposal

 

Paris, France, Eastleigh and Manchester, UK - 21 December 2023 - Novacyt
(EURONEXT GROWTH: ALNOV; AIM: NCYT), an international molecular diagnostics
company with a broad portfolio of integrated technologies and services,
announces an update to the conditional disposal of its laboratory in Taiwan,
which it acquired as part of the Yourgene Health plc ("Yourgene") acquisition
completed on 8 September 2023.

 

On 13 June 2023, Yourgene announced the conditional divestment of its
Taiwanese subsidiary, Yourgene Health Taiwan Co Ltd ("Yourgene Health
Taiwan"), to INEX Innovate Pte Ltd ("INEX"), a Singapore-based molecular
diagnostics company focused on women's and fetal health, for proceeds of up to
US$4m (approximately £3.2m).

 

As previously announced, the divestment is conditional upon Yourgene
completing a pre-Closing restructure (the "Restructure") to facilitate the
transfer of retained people and assets to other Group companies, which must be
approved by the Taiwanese Government, and INEX then being granted Taiwanese
Government approval for the planned acquisition as required for non-Taiwanese
acquirers. The Restructure is now complete, however the various approvals have
taken significantly longer to achieve than originally anticipated and
management do not expect the transaction to complete by the end of 2023 as
previously announced.

 

Both parties remain committed to completing the transaction and the Group is
continuing to work with INEX to obtain the necessary approvals as quickly as
possible. Novacyt will provide a further update on the disposal as part of its
trading update in January 2024.

 

Contacts

 

 Novacyt SA                                          +44 (0) 23 8074 8830
 James Wakefield, Non-Executive Chairman

 James McCarthy, Acting Chief Executive Officer

 SP Angel Corporate Finance LLP (Nominated Adviser and Broker)                  +44 (0)20 3470 0470

 Matthew Johnson / Charlie Bouverat (Corporate Finance)

 Vadim Alexandre / Rob Rees (Corporate Broking)

 Deutsche Numis (Joint Broker)                                                  +44 (0)20 7260 1000
 Freddie Barnfield / Duncan Monteith / Michael Palser

 Allegra Finance (French Listing Sponsor)                                       +33 (1) 42 22 10 10
 Rémi Durgetto / Yannick Petit                                                   r.durgetto@allegrafinance.com (mailto:r.durgetto@allegrafinance.com) /
                                                                                y.petit@allegrafinance.com (mailto:y.petit@allegrafinance.com)

 Walbrook PR (Financial PR & IR)                     +44 (0)20 7933 8780 or novacyt@walbrookpr.com

 Stephanie Cuthbert / Paul McManus /                 +44 (0)7796 794 663/ +44 (0)7980 541 893

 Phillip Marriage / Alice Woodings                    + 44 (0)7867 984 082 / +44 (0)7407 804 654

 

 

 

About Novacyt Group (www.novacyt.com (http://www.novacyt.com) )

Novacyt is an international molecular diagnostics company providing a broad
portfolio of integrated technologies and services, primarily focused on the
delivery of genomic medicine. The Company develops, manufactures, and
commercialises a range of molecular assays and instrumentation to deliver
workflows and services that enable seamless end-to-end solutions from sample
to result across multiple sectors including human health, animal health and
environmental.

Novacyt is headquartered in Vélizy in France with offices in the UK (in
Stokesley, Eastleigh and Manchester), Taipei (divestment pending), Singapore,
the US and Canada and has a commercial presence in over 65 countries. The
Company is listed on the London Stock Exchange's AIM market ("NCYT") and on
the Paris Stock Exchange Euronext Growth ("ALNOV").

 

For more information, please refer to the website: www.novacyt.com
(http://www.novacyt.com)

 

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