ODX.L Share News (ODX)

(Alliance News) - Omega Diagnostics Group PLC on Tuesday said that Group Finance Director Chris Lea has stepped down with immediate effect, as he is based in Scotland and the company looks to focus more of its resources around its headquarters.

The formerly Alva, Scotland-based diagnostics company said Lea was "instrumental" in selling its Alva site and the subsequent sale of the CD4 business alongside a wider group restructuring, now based in Ely, Cambridgeshire.

Omega Diagnostics intends to appointed an interim chief financial officer "shortly".

"The restructuring and disposals were key in refocusing the company on food intolerance testing and ensuring it has sufficient resources to drive Omega forward," the company said.

"Chris is based in Scotland and his stepping down is in line with the company strategy to focus more of its resources in and around the company's headquarters in Ely, Cambridge."

Chair Simon Douglas commented: "We thank Chris for all his efforts and fully appreciate how instrumental he was in the refocusing and restructuring of the company."

Omega Diagnostics also reiterated it intends to change its name to Cambridge Nutritional Sciences at its upcoming annual general meeting. It did not specify a date.

Shares in Omega Diagnostics were up 3.7% to 2.70 pence each in London on Tuesday morning.

By Greg Rosenvinge, Alliance News reporter

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