Omega Diagnostics Group PLC - Alva, Scotland-based medical diagnostics - Says it has completed the conditional sale agreement for Omega's diagnostic test kit manufacturing business and facility in Alva, Scotland. Agreement is with Accubio Ltd, a wholly-owned subsidiary of Zhejiang Orient Gene Biotech Co Ltd for a cash consideration of GBP1 million.
Chief Executive Officer Jag Grewal comments: "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."
Current stock price: 5.35 pence, up 21% on Monday
12-month change: down 94%
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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