Ekf Diagnostics Regulatory News (EKF)

EKF Diagnostics Holdings plc

("EKF" or the "Company")

Share Buyback

EKF Diagnostics Holdings plc (AIM: EKF), the AIM-listed global diagnostics business, announces that it has purchased a total of 700,000 of its ordinary shares of 1p each in the capital of the Company ("Ordinary Shares") at a weighted average price of 22.0 pence per share. The Ordinary Shares purchased will be held in treasury.

The Company intends to conduct further on-market purchases of up to c.£1.0m, pursuant to the authorities obtained at the Company's last annual general meeting held on 14 May 2024.

Aggregated information

 Transaction details

In accordance with Article 5(1)(b) of Regulation (EU) No 596/2014 (the Market Abuse Regulation) (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018), a detailed breakdown of individual trades is available below:

Total voting rights

Following the purchase, the Company's total issued share capital will consist of 454,930,564 Ordinary Shares each carrying one voting right, of which 1,900,000 Ordinary Shares are held in treasury. Therefore, the total number of Ordinary Shares carrying voting rights will be 453,030,564. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

Christopher Mills, Non-Executive Director of the Company, is the Chief Investment Officer of Harwood Capital Management (Gibraltar) Limited ("Harwood"), which is investment manager to Oryx International Growth Fund Limited ("Oryx") and Chief Investment Officer of North Atlantic Smaller Companies Investment Trust PLC ("NASCIT"). Mr. Mills is a director and shareholder in Oryx and also a director and shareholder in NASCIT. Oryx and NASCIT hold 37,000,000 and 96,000,000 Ordinary Shares, respectively, and 133,800,000 Ordinary Shares in aggregate (with 800,000 Ordinary Shares held by Harwood Capital LLP), which is equivalent to approximately 29.49% of the current total voting rights in the Company. Harwood will facilitate the participation of these entities in the share buy back pro rata to their existing aggregate holding, with the intention that the aggregate indirect beneficial interest of Mr. Mills remains at approximately this level and in any event does not exceed 30.00% of the prevailing total voting rights in the Company following any repurchases. This is solely in order for Mr. Mills and the above connected entities (which are, unless otherwise established, deemed to be acting in concert in accordance with the City Code on Takeovers and Mergers) to avoid otherwise being subject to an obligation under the City Code on Takeovers and Mergers to make a mandatory offer for the Company's entire share capital or to obtain the requisite shareholder approval for a waiver from the Takeover Panel from such obligation.

PDMR dealing

As part of the buyback and within the above aggregate purchase, EKF acquired 205,960 Ordinary Shares at a price 22.0 pence per share from Harwood as investment manager to Oryx. Harwood has facilitated this transaction solely in order to ensure that the aggregate indirect beneficial interest of Mr. Mills remains at approximately the same level and in any event does not exceed 30% of the prevailing total voting rights in the Company following any repurchases.

Following the above sale of Ordinary Shares by Oryx to the Company, Mr. Mills' aggregate indirect interest in the Company is 133,594,040 Ordinary Shares. 

Additional disclosures relating to this PDMR dealing are detailed below.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018). 

The person responsible for arranging the release of this Announcementon behalf of the Company is Julian Baines, Executive Chair.

About EKF Diagnostics Holdings plc (www.ekfdiagnostics.com)

EKF is an AIM-listed global diagnostics business focussed on:

EKF has headquarters in Penarth (near Cardiff) and operates five manufacturing sites across the US and Germany, selling into over 120 countries world-wide.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them