5 Nov 2010 12:22
EKF Diagnostics Holdings plc
("EKF" or the "Company")
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Deed of Variation relating to the Acquisition of Quotient Diagnostics Limited
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EKF Diagnostics Holdings plc (AIM: EKF), which has recently refocused on the in-vitro diagnostic devices market, announces it has entered into a deed of variation to amend the sale and purchase agreement ("SPA") relating to the acquisition, announced on 1 October 2010, of the entire issued share capital of Quotient Diagnostics Limited ("Quotient").
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Under the terms of the deed of variation, the initial consideration has been increased from Β£3.41 million to Β£3.51 million, such increase to be satisfied by the issue of a further 472,613 new ordinary shares ("New Ordinary Shares") at a price of 22p per share, and the maximum deferred consideration payable has been reduced from Β£2.0 million to Β£1.9 million. Therefore the maximum total consideration payable for the acquisition of Quotient remains Β£5.41 million.
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The variation to the SPA is the result of an amendment to the number of ordinary shares in the Company that were originally issued to the vendors of Quotient on 4 October 2010 and specifically relates to the conversion of certain loan notes that Quotient had issued earlier this year.
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Application has been made for the New Ordinary Shares to be admitted to AIM and dealings are expected to commence on 10 November 2010.
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Enquiries:
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EKF Diagnostics Holdings plc Julian Baines, CEO Paul Foulger, FD Β | Mob: 07788 420 859 Tel: 020 7823 1733 Β |
Zeus Capital - Nominated Adviser and Joint Broker Ross Andrews Tom Rowley Β | Tel: 0161 831 1512 |
Matrix Corporate Capital LLP - Joint Broker | Tel: 020 3206 7000 |
Robert Naylor Stephen Waterman Β | |
Walbrook PR Paul McManus Β | Tel: 020 7933 8780 Mob: 07980 541 893 paul.mcmanus@walbrookpr.com |
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