IDH.L Regulatory News (IDH)

26 Jul 2007 07:01

Immunodiagnostic Systems Hldgs PLC26 July 2007 Immunodiagnostic Systems Holdings PLC ("IDS" or the "Group") Completion Acquisition IDS, a leading producer of diagnostic testing kits, announces the completion ofthe acquisition of 100% of the ordinary share capital of Nordic BioscienceDiagnostics A/S ("NBD"). As previously announced, the consideration for NBD was £17,000,000, with£10,000,000 (€14,900,000) to be satisfied in cash, and the balance satisfiedthrough the issue of 2,783,300 new Ordinary Shares in IDS, at a price of 251.5p. Application has been made for the Ordinary Shares to be admitted to trading onAIM and it is anticipated that Admission will become effective on 31 July 2007.Following the Admission the Company's issued share capital consists of16,127,967 ordinary shares with a nominal value of 2 pence each. NBD is a leading producer of diagnostic testing kits, primarily tests for boneand cartilage biomarkers measured in osteoporosis and arthritis. NBD'slaboratory testing business and internal R&D operations, which historically alsohave been part of NBD, will not be included in the acquisition but rather "spunout" to the NBD group. For the year ending 31 December 2006, NBD's EBIT (excluding the spun outbusinesses) was 23.46m Danish Kroner (c. £2.13m), on a turnover of 46.32m DanishKroner (c. £4.21m). As at 31 December 2006 NBD's net assets were 10.1m DanishKroner (c. £0.92m) (excluding the spun out businesses). Enquiries: Immunodiagnostic Systems Holdings plc Parkgreen Communications LtdDr. Roger Duggan, Managing Director Paul McManusTel: 0191 519 0660 Tel: 020 7479 7933www.idsltd.com Mob: 07980 541 893 paul.mcmanus@parkgreenmedia.com Teather & Greenwood LimitedSindre OttesenTel: 020 7426 9000 This information is provided by RNS The company news service from the London Stock Exchange