EKF Diagnostics Holdings PLC Update on strategic investment in Trellus Health (2457G)
November 24 2020 - 1:00AM
UK Regulatory
TIDMEKF
RNS Number : 2457G
EKF Diagnostics Holdings PLC
24 November 2020
This announcement contains inside information
for the purposes of Article 7 of Regulation (EU) No 596/2014
(MAR)
EKF Diagnostics Holdings plc
("EKF", the "Company" or the "Group")
Update on strategic investment in Trellus Health
&
Notice of General Meeting
EKF Diagnostics Holdings plc (AIM: EKF), the AIM listed
point-of-care business, announces that a Circular will today be
sent to shareholders providing background to, details of and
reasons for, a dividend in specie, to facilitate the spin-out of
the Company's shareholding in Trellus Health Limited ("Trellus
Health") to EKF's shareholders. Trellus Health is a
resilience-driven digital health solution for complex chronic
conditions, into which EKF made a $5 million investment on the 20
August 2020.
On the 20 August, the Company announced that it was the Trellus
Health investors' intention, in the future, to conduct initial
market soundings to determine the feasibility and timing of an
initial public offering (IPO), and the potential admission to
trading on the AIM Market of the London Stock Exchange (AIM) for
Trellus Health. If an IPO were to take place, the expectation would
be for this to be undertaken in 2021.
General Meeting
The Company will be hosting a General Meeting ("GM") on Thursday
10 December 2020 at 11 a.m. The purpose of the GM is to seek
shareholders' approval to distribute the Company's entire holding
of Trellus Health shares, by way of a dividend in specie, to EKF
shareholders. The Dividend in Specie is conditional upon, inter
alia, the shareholders approving an ordinary resolution at the
GM.
The value of the Dividend in Specie (the "Value") has not yet
been determined and the number of Trellus Health shares that each
shareholder will receive has not yet been determined (the "Ratio").
The Directors will determine whether and when the Dividend in
Specie occurs and, if they do so, they will then determine the
Value and the Ratio and will then declare the Dividend in Specie
shortly thereafter. This will be announced to shareholders via a
further regulatory announcement.
In light of the current UK Government's public health advice in
response to the COVID-19 outbreak, including to limit travel and
public gatherings, and the likelihood that this advice may remain
in place at the time of the GM, the Company requests that no
shareholder should plan to attend the GM in person.
The Company will provide a facility for shareholders to join the
GM either online or telephonically and there will be an opportunity
for shareholders to ask questions. In order to facilitate the
process, the Directors would request that shareholders register for
the meeting and submit questions in advance, before 11 a.m. on 8
December 2020.
The Notice, which is on the Company's website, contains full
details of the resolution to be tabled at the GM and should be read
before you complete your vote. The Directors consider that the
proposed resolution contained in the notice of GM is in the best
interests of the Company and shareholders as a whole and
unanimously recommend that you vote in favour of it, as they intend
to do in respect of their own shareholdings.
To register for dial-in details and to submit any questions
please contact Walbrook PR via email at ekf@walbrookpr.com or call
+44 (0)20 7933 8780.
Proxy voting
Shareholders will not receive a hard copy form of proxy for the
GM in the post. Instead, shareholders will be able to vote
electronically using the link www.signalshares.com. Shareholders
will need to log into the Signal Shares account, or register. Proxy
votes must be received no later than 11 a.m. on 8 December
2020.
Shareholders may request a hard copy form of proxy directly from
the Registrars, Link Asset Services, on Tel: 0371 664 0300. Calls
are charged at the standard geographic rate and will vary by
provider. Calls outside the United Kingdom will be charged at the
applicable international rate. Lines are open between 09:00 -
17:30, Monday to Friday excluding public holidays in England and
Wales.
EKF Diagnostics Holdings plc www.ekfdiagnostics.com
Christopher Mills, Non-executive Chairman Tel: +44 (0) 29 2071 0570
Julian Baines, CEO
Richard Evans, FD & COO
N+1 Singer Tel: 020 7496 3000
Aubrey Powell / George Tzimas (Corporate
Finance)
Tom Salvesen (Corporate Broking)
Walbrook PR Limited Tel: +44 (0) 20 7933 8780 or ekf@walbrookpr.com
Paul McManus / Lianne Cawthorne Mob: +44 (0) 7980 541 893 / +44 (0) 7584
391 303
About EKF Diagnostics Holdings plc ( www.ekfdiagnostics.com
)
EKF is a leading point-of-care diagnostics and central
laboratory assay manufacturer with an estimated 80,000 hemoglobin,
hematocrit, HbA1c, glucose and lactate analyzers in regular use
across more than 100 countries. EKF specializes in developing tests
for use in anemia and diabetes diagnosis and management, as well as
providing a portfolio of reagents for use in clinical chemistry
analyzers.
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