Omega Diagnostics Group PLC Confirmation of Sale of Alva business (8576D)
07 Marzo 2022 - 5:03AM
UK Regulatory
TIDMODX
RNS Number : 8576D
Omega Diagnostics Group PLC
07 March 2022
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014. Upon the publication
of this announcement via the Regulatory Information Service, this
inside information is now considered to be in the public
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OMEGA DIAGNOSTICS GROUP PLC
("Omega" or the "Company" or the "Group")
Confirmation of Sale of Alva manufacturing business
Omega (AIM: ODX), the specialist medical diagnostics company
focused on industry-leading Health & Nutrition and Global
Health (CD4 and COVID-19) products, announces it has completed the
conditional sale and purchase agreement (the "Agreement" or the
"Sale") with Accubio Limited, a wholly-owned subsidiary of Zhejiang
Orient Gene Biotech Co. Ltd ("Orient Gene") in relation to the sale
of Omega's diagnostic test kit manufacturing business and facility
in Alva, Scotland, for a cash consideration of GBP1m.
The manufacturing business has been sold as a going concern,
with approximately 93 full-time employees based in Alva
transferring across with the business, with no resultant
redundancies. The Agreement also covers the sale of certain fixed
assets, including plant and equipment (although not any
Government-funded equipment on site), as well as the assignment of
the lease for the Alva site.
As previously announced, the transitional services agreement
addresses the ongoing requirements for the site to continue to
produce Lateral Flow Tests for Omega, particularly the
VISITECT(R)CD4 Advanced Disease test. These arrangements cover the
period to December 2022.
Jag Grewal, CEO of Omega, commented: "We are extremely pleased
to confirm the sale of the historical Alva site today, ensuring job
security for all employees transferring to Accubio. This is the
first step in our planned strategy to reshape and restructure the
business."
Contacts:
Omega Diagnostics Group PLC www.omegadx.com
Jag Grewal, Chief Executive Officer via Walbrook PR
Chris Lea, Chief Financial Officer
finnCap Ltd Tel: 020 7220 0500
Geoff Nash/Edward Whiley/George Dollemore (Corporate
Finance)
Alice Lane/ Charlotte Sutcliffe
(ECM)
Walbrook PR Limited Tel: 020 7933 8780 or omega@walbrookpr.com
Paul McManus Mob: 07980 541 893
Lianne Applegarth Mob: 07584 391 303
Sam Allen Mob: 07502 558 258
About Omega Diagnostics Group PLC
Omega manufactures and distributes high quality in-vitro
diagnostic products for use in hospitals, clinics, laboratories and
healthcare practitioners in over 75 countries and specialise in the
areas of health and nutrition and global health.
www.omegadx.com
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END
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