Result of Court Hearing

RNS Number:6347N
BBI Holdings PLC
08 February 2008


NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO
AUSTRALIA, CANADA OR JAPAN OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD BE
UNLAWFUL


                             FOR IMMEDIATE RELEASE
                                8 FEBRUARY 2008

                     RECOMMENDED CASH AND SHARE ACQUISITION
                                       by
                      INVERNESS MEDICAL INNOVATIONS, INC.
                                 ("Inverness")

                                       of
                                BBI HOLDINGS PLC
                            ("BBI or the "Company")

              (TO BE EFFECTED BY MEANS OF A SCHEME OF ARRANGEMENT)


Result of Court Hearing

On 11 December 2007, the Company announced a recommended proposal by Inverness
to acquire the entire issued and to be issued share capital of BBI to be
implemented by way of a Court approved Scheme of Arrangement. The Scheme
Document, containing the terms and conditions of the Proposal and further
information on the Proposal, was posted to qualifying holders of BBI Shares on
21 December 2007. Terms defined in this announcement have the same meanings as
in the Scheme Document unless the context requires otherwise.

On 16 January 2008, the Company announced that at the BBI Court Meeting the
resolution approving the Scheme was passed by a majority in number of
shareholders present and voting representing 99.99 per cent. of the BBI Shares
held by such shareholders and that certain other resolutions concerning the
Scheme were passed at the BBI General Meeting.

Today, at the first of two Court Hearings required as part of the Scheme, the
Court sanctioned the Scheme and the Scheme Court Order made at the Court Hearing
was delivered to the Registrar of Companies in England and Wales shortly after
the Court Hearing.

A second Court Hearing will take place on 11 February 2008 at which the Court
will consider and if thought fit make the Reduction Court Order to reduce the
share capital of the Company.

Cancellation of the listing of the BBI Shares from AIM will take effect from 
07:00 am on 11 February 2008.

If the Reduction Court Order is made then the Scheme Effective Date being the
day upon which the Acquisition completes is scheduled to be 12 February 2008.


Enquiries:

Enquiries:
BBI Holdings Plc                             Inverness Medical Innovations, Inc.

Tel: [phone]                     Tel: [phone]
David Evans, Chairman                        Doug Guarino

Julian Baines, Chief Executive               (Director of Corporate Relations)
Cenkos Securities plc                        IDJ Limited

(Financial adviser, nominated adviser and    (Financial adviser to Inverness)
broker to BBI Holdings Plc)

Tel: [phone]
                                             Tel:  [phone]
Ian Soanes                                   John Incledon
Adrian Hargrave                              David Bolton


The BBI Directors accept responsibility for the information contained in this
Announcement.  To the best of the knowledge and belief of the BBI Directors (who
have taken all reasonable care to ensure that such is the case), the information
contained in this Announcement is in accordance with the facts and does not omit
anything likely to affect the import of such information.

Cenkos, which is authorised and regulated in the United Kingdom by the Financial
Services Authority, is acting exclusively for BBI and no one else in connection
with the Proposal and the Scheme and will not be responsible to anyone other
than BBI for providing the protections afforded to the clients of Cenkos nor for
providing advice in relation to the Proposal and the Scheme or any other matter
or arrangement referred to in this announcement.

IDJ Limited, which is authorised and regulated in the United Kingdom by the
Financial Services Authority, is acting exclusively for Inverness and no one
else in connection with the Proposal and the Scheme and will not be responsible
to anyone other than Inverness for providing the protections afforded to the
clients of IDJ Limited nor for providing advice in relation to the Proposal and
the Scheme or any other matter or arrangement referred to in this announcement.

The release, publication or distribution of this Announcement in jurisdictions
other than the United Kingdom may be restricted by law and therefore any persons
who are subject to the laws of any jurisdiction other than the United Kingdom
should inform themselves about, and observe, any applicable requirements. This
Announcement has been prepared for the purposes of complying with English law
and the City Code and the information disclosed may not be the same as that
which would have been disclosed if this Announcement had been prepared in
accordance with the laws and regulations of any jurisdiction outside of England.

This Announcement does not constitute an offer to sell or an invitation to
purchase or subscribe for any securities or a solicitation of any vote or
approval in any jurisdiction whether relating to the Proposal or otherwise. This
Announcement does not constitute a prospectus or a prospectus equivalent
document. The Proposal will be made solely through the Scheme Document which
contains the full details, terms and conditions of the Proposal, including
details of how to vote in respect of the Proposal. BBI Shareholders are advised
to read the Scheme Document carefully once it has been received.

The New Inverness Shares to be issued in connection with the Proposal have not
been and will not be registered under, nor have the relevant clearances been,
nor will they be, obtained from the Securities Commission of any province or
territory of Canada, nor has any prospectus in relation to the New Inverness
Shares been lodged with, or registered by, the Australian Securities &
Investments Commission nor any securities authority in Japan.   Accordingly,
unless an exemption under the relevant securities law is available, the New
Inverness Shares may not be offered, sold, re-sold or delivered, directly or
indirectly, into or from Canada, Australia or Japan.

NOTICE TO US SHAREHOLDERS

For US securities law purposes, the exchange offer described in the Scheme
Document will be made for the securities of a foreign company by means of a
scheme of arrangement under Section 425 of the United Kingdom Companies Act
1985. The offer is subject to disclosure and procedural requirements of a
foreign country that are different from those of the United States.   Financial
statements relating to BBI included or incorporated in the Scheme Document
have been prepared in accordance with foreign accounting standards that may not
be comparable to the financial statements of United States companies.  It may be
difficult for you to enforce your rights and any claim you may have arising
under United States federal securities laws, since BBI is located in a foreign
country, and some or all of its officers and directors may be residents of a
foreign country. You may not be able to sue BBI or its officers or directors in
a foreign court for violations of the U.S. securities laws. It may be difficult
to compel BBI and its affiliates to subject themselves to a U.S. court's
judgment. You should be aware that Inverness may purchase securities otherwise
than pursuant to the Scheme, such as in open market or privately negotiated
purchases. BBI is circulating the Scheme Document to its shareholders in
connection with its solicitation of proxies in connection with the Scheme. The
Scheme Document contains important information about BBI, Inverness, the Scheme
and related matters.  BBI shareholders are urged to read the Scheme Document
carefully.

Words and expressions defined in the Scheme Document shall, unless the context
provides otherwise, have the same meanings in this Announcement.


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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