Omega Diagnostics Group PLC - Alva, Scotland-based diagnostics company - Raises gross proceeds of GBP2.0 million via a placing of 50.0 million new shares and the issue of 90.0 million warrants at a price of 4.0 pence per share. Plans to use the proceeds to fund its CD4 business to divestment and provide additional working capital. Intends to dispose of the CD4 unit to focus solely on its Health & Nutrition business which contributes to the majority of its revenue. Plans to raise an additional GBP2.0 million by the issue of up to 49.9 million shares through an open offer. Expects its enlarged issued share capital to be 284.7 million shares, assuming full take-up of the open offer shares.
Current stock price: 3.89 pence
Year-to-date change: down 95%
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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