TIDMEKF

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   Transaction price   Time of transaction   Trading venue 
  shares purchased     (GBp) 
 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 
Mike Salter, CEO                                                     Tel: +44 (0)29 2071 0570 
Marc Davies, CFO 
 
Singer Capital Markets (Nominated Adviser &                          Tel: +44 (0)20 7496 3000 
 Joint Broker) 
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 
Paul McManus / Lianne Applegarth                       Mob: +44 (0)7980 541 893 / +44 (0)7584 
                                                                                      391 303 
 
 

About EKF Diagnostics Holdings plc ( 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 (<BETA>-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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April 11, 2022 02:01 ET (06:01 GMT)

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