Rns...17 May 2010 08:47
RNS Number : 0154M
Osmetech PLC
17 May 2010

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM THE UNITED STATES OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION. THIS ANNOUNCEMENT IS MADE IN ACCORDANCE WITH THE REQUIREMENTS OF THE AIM RULES FOR COMPANIES. Osmetech plc Update regarding Scheme timetable, listing of GenMark on NASDAQ and GenMark Fundraising Following the approval of the Scheme and associated matters at the Osmetech Shareholder Meetings, the Board of Osmetech today provides the following update in relation to the Scheme timetable, listing of GenMark on NASDAQ and the GenMark Fundraising. On 13 May 2010, GenMark filed Amendment Number 2 ("Amendment") to its Registration Statement on Form S-1 originally filed with the United States Securities and Exchange Commission on March 19, 2010 (file no. 333-165562). The Amendment includes an initial estimate of the price range (US $8.00 to US $10.00) at which the GenMark Shares are proposed to be issued in the GenMark Fundraising. This price range is subject to further amendment and the GenMark Directors are permitted to issue the GenMark Fundraising Shares outside any published price range. As set out in the Scheme Document, if fully implemented, the Scheme will result in all Osmetech Shareholders becoming shareholders in GenMark, on the basis of one GenMark Share for every 230 Osmetech Shares held at the Scheme Record Time. Using a US$/UK sterling exchange rate of 0.6843, being the exchange rate prevailing on 13 May 2010, the initial estimated price range equates to an estimated value of between 2.38 pence and 2.98 pence for each Osmetech Share in issue as at today's date. A copy of the Amendment may be viewed on the Securities and Exchange Commission website at www.sec.gov. In view of the delay in the filing of the Amendment, the Court Hearing to sanction to the Scheme has been rescheduled to take place on 26 May 2010, which would delay the Effective Date of the Scheme to 1 June 2010 and the cancellation of trading on AIM to 2 June 2010. The revised expected timetable is set out in the appendix to this announcement, although it is emphasised that the dates given are indicative only, and are subject to change. Terms defined in the Scheme Circular shall have the same meaning(s) when used in this announcement. Contacts For further information contact: Osmetech plc Steven Kemper, Chief Financial Officer - +1 626 463 2004 Jon Faiz Kayyem, Chief Executive Officer - +1 626 463 2000 Canaccord Genuity Limited (Nominated Advisor) 020 7050 6500 Robert Finlay Henry Fitzgerald-O'Connor As of 10 May 2010, Canaccord Adams Limited, the Company's nominated adviser and broker has changed its name to Canaccord Genuity Limited. THIS ANNOUNCEMENT IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY S