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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Omega Diagnostics Group Plc | LSE:ODX | London | Ordinary Share | GB00B1VCP282 | ORD 4P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.20 | 2.00 | 2.40 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
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 domain.
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) Dow Jones Newswires
March 07, 2022 06:03 ET (11:03 GMT)
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