ODX.L Regulatory News (ODX)

THIS ANNOUNCEMENT AND THE INFORMATION IN IT, IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OR BREACH OF ANY APPLICABLE LAW OR REGULATION.

FURTHER, THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT AN OFFER OF SECURITIES IN ANY JURISDICTION.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (EU) NO 596/2014, AS AMENDED.

OMEGA DIAGNOSTICS GROUP PLC

("Omega" or the "Company" or the "Group")

Result of Open Offer - full take up

Omega (AIM: ODX), the medical diagnostics company focused on CD4, infectious diseases and food intolerance testing, is pleased to announce the results of its Open Offer.

On 19 June 2020, Omega announced its intention to raise gross proceeds of up to £11.0 million by way of a Placing, Subscription and Open Offer (together the "Fundraising"), all at an issue price of 40 pence per New Ordinary Share.

A total of 27,531,100 New Ordinary Shares will be issued at the Issue Price (subject to the conditions noted below), of which, 7,515,350 New Ordinary Shares have already been admitted to trading pursuant to the First Placing on 25 June 2020, 12,434,650 New Ordinary Shares will be issued pursuant to the Second Placing, 50,000 New Ordinary Shares will be issued pursuant to the Subscription and 7,531,100 New Ordinary Shares will be issued pursuant to the Open Offer (the "Open Offer Shares"). This brings the gross proceeds of the Fundraising to £11 million before expenses.

The Open Offer closed for acceptances at 11.00 a.m. on 7 July 2020. The Company has received valid acceptances from Qualifying Shareholders in respect of their Basic Entitlements in respect of 4,089,048 New Ordinary Shares, representing approximately 54 per cent. of the Open Offer Shares. In addition, the Company has received applications from Qualifying Shareholders under the Excess Application Facility in respect of 6,138,510 New Ordinary Shares, representing approximately 82 per cent. of the Open Offer Shares. Accordingly, Qualifying Shareholders who have validly applied for Open Offer Shares will receive their full Basic Entitlements. As applications under the Excess Application Facility cannot be satisfied in full, applications for New Ordinary Shares under the Excess Application Facility will be scaled back in accordance with the terms set out in the Circular.

Director participation in the Open Offer

Kieron Harbinson, Group Finance Director of the Company, has taken up 10,914 New Ordinary Shares as part of his Basic Entitlement under the Open Offer. This is in addition to the 25,000 New Ordinary Shares subscribed for as part of the Subscription.

General Meeting

The Fundraising remains conditional on the approval by Shareholders of the Resolutions at the Company's General Meeting to be held on 10 July 2020 (or any adjournment thereof), the satisfaction of certain conditions in the Placing Agreement and Admission of the New Ordinary Shares to trading on AIM occurring at or before 8.00 a.m. on 13 July 2020 (or such later date as the Company and finnCap may agree, being not later than 8.00 a.m. on 27 July 2020).

The Company will announce the results of the General Meeting as soon as practicable after the meeting concludes.

Capitalised terms not otherwise defined in the text of this announcement have the meanings given to them in the Company's circular dated 19 June 2020.

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