Betrayed by Penelope - WTF !14 Oct 2025 08:08
THIS ANNOUNCEMENT WAS DEEMED BY THE COMPANY TO CONTAIN INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018. WITH THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
MyHealthChecked PLC
("MyHealthChecked" or the "Company")
Proposed Sale of Concepta Diagnostics Limited
Designation as an AIM Rule 15 cash shell
Board Changes
Related Party Transaction
Publication of Circular and Notice of General Meeting
MyHealthChecked PLC (AIM: MHC), the consumer home-testing healthcare company, announces that it has agreed the conditional sale of the Group's trading subsidiary Concepta Diagnostics Limited ("Concepta") to Boots UK Limited ("Boots") for a total consideration of £2.375m ("the Disposal").
Concepta distributes and commercialises a range of at-home healthcare and wellness tests and has developed an accompanying proprietary digital platform. The Company has worked closely with Boots to develop its wellness portfolio and digital offering since its launch in May 2023 and has developed the platform to meet Boots' requirements since the relationship began in May 2021.
The Disposal
The Disposal, which is conditional upon shareholder approval, will be on a cash free, debt free basis for a total cash consideration to be paid on completion of £2.375m ("Completion"). A circular setting out details of the proposed disposal of Concepta (the "Circular") will be posted to shareholders today. The Circular also contains a notice a General Meeting to be held in the Castle Room at The Maltings, East Tyndall Street, Cardiff, CF24 5EA, at 1.00 p.m. on 4 November 2025.
The Circular will be available online shortly at: https://investors.myhealthchecked.com/investors/shareholder-information.asp
Upon Completion the Company is expected to become an AIM Rule 15 cash shell with (unaudited) cash balances of approximately £5.7 million, after deducting all expenses and costs associated with the Disposal.
The Board will carefully consider the strategic options available in order to maximise Shareholder value. As the Chairman has experience in utilising cash shells to acquire growing businesses, with a demonstrable record of increasing shareholder value, this will include reviewing acquisition opportunities in a variety of sectors as well as considering a return of cash to Shareholders.
Board Changes and Related Party Transaction
If the Resolutions proposed at the General Meeting are passed by Shareholders, and the Disposal completes, Penelope McCormick will immediately resign from the Board to join Boots as Managing Director of Concepta. At that point Adam Reynolds will become Executive Chairman of the Company.
As part of Penelope McCormick's exit upon completion of the Disposal the Company intends to pay an exit bonus to Penelope McCormick, acc