7 Mar 2022 15:40
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.
OMEGA DIAGNOSTICS GROUP PLC
("Omega" or the "Company" or the "Group")
Result of General Meeting
Omega (AIM: ODX), the specialist medical diagnostics company focused on industry-leading Health & Nutrition and Global Health (CD4 and COVID-19) products, announces that at the General Meeting held earlier today, resolution 1 (an ordinary resolution) passed, but resolution 2 (a special resolution) was not passed.
As a result, the Placing, Subscription and Open Offer will not take place. The Group is therefore not funded to pursue its growth strategy as set out in the Circular. The Directors will now need to reassess the strategy, reflecting on alternative options for funding for the Company and will update the market in due course.
A breakdown of the voting results for each resolution is provided on the Company's website here:
https://www.omegadx.com/Investor-Relations/Corporate-Information
Jag Grewal, Chief Executive Officer, of Omega Diagnostics said: "The Board is encouraged that resolution 1, increasing the Directors' authority to allot shares, was approved by shareholders and notes the views of some retail shareholders with regards to resolution 2 and their pre-emption rights. Accordingly, the fundraise will not proceed and the Company will look at other strategic and funding options."
Capitalised terms not otherwise defined in the text of this announcement have the meanings given to them in the Company's circular dated 11 February 2022.
Contacts:
Omega Diagnostics Group PLC | www.omegadx.com | ||
Jag Grewal, Chief Executive Officer | via Walbrook PR | ||
Chris Lea, Chief Financial Officer |
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finnCap Ltd | Tel: 020 7220 0500 | ||
Geoff Nash/Edward Whiley/George Dollemore (Corporate Finance) |
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Alice Lane/ Charlotte Sutcliffe (ECM) |
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Walbrook PR Limited | Tel: 020 7933 8780 or omega@walbrookpr.com | ||
Paul McManus | Mob: 07980 541 893 | ||
Lianne Applegarth | Mob: 07584 391 303 | ||
Sam Allen | Mob: 07502 558 258 | ||
About Omega Diagnostics Group PLC
Omega manufactures and distributes high quality in-vitro diagnostic products for use in hospitals, clinics, laboratories and healthcare practitioners in over 75 countries and specialise in the areas of health and nutrition and global health.
www.omegadx.com