ODX.L Regulatory News (ODX)

THIS ANNOUNCEMENT (INCLUDING THE APPENDIX) AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, THE REPUBLIC OF IRELAND OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL ("RESTRICTED JURISDICTION"). THIS ANNOUNCEMENT IS NOT AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES. THE SECURITIES DISCUSSED HEREIN HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE US SECURITIES ACT OF 1933, AS AMENDED (THE "US SECURITIES ACT") AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN EXEMPTION FROM REGISTRATION UNDER THE US SECURITIES ACT. NO PUBLIC OFFERING OF THE SECURITIES DISCUSSED HEREIN IS BEING MADE IN THE UNITED STATES AND THE INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE AN OFFERING OF SECURITIES FOR SALE IN THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SINGAPORE OR THE REPUBLIC OF SOUTH AFRICA.

FURTHER, THIS ANNOUNCEMENT IS MADE FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR SOLICITATION TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE SHARES IN OMEGA DIAGNOSTICS GROUP PLC IN ANY JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL.

30 June 2017

Omega Diagnostics Group plc

Confirmation of successful £2.6 million fundraise subject to shareholder approval

Omega (AIM: ODX), the medical diagnostics company focused on allergy, food intolerance and infectious disease, is pleased to announce that, following the announcement of earlier today, the Company has raised a total of £2.6 million (before expenses) with new and existing investors of 13,116,881 Placing Shares and 1,166,666 Subscription Shares at a price of 18 pence per share.

Richard Sneller and Legal & General Investment Management Limited have agreed to subscribe for 2,222,222 and 1,840,533 New Ordinary Shares respectively as part of the Placing. These investors are related parties of the Company for the purposes of the AIM Rules by virtue of their status as substantial shareholders of the Company. The Directors consider, having consulted with the Company's nominated adviser, finnCap, that the terms of the Fundraising with such related parties are fair and reasonable insofar as the Company's shareholders are concerned.

David Evans, Andrew Shepherd, Colin King, Kieron Harbinson and Jag Grewal have agreed to subscribe for 1,111,111, 111,111, 277,777, 55,555 and 53,333 New Ordinary Shares respectively as part of the Fundraising. Each of them is a related party of the Company for the purposes of the AIM Rules by virtue of their status as Directors of the Company. William Rhodes, being the independent director for this purpose, considers, having consulted with the Company's nominated adviser, finnCap, that the terms of the Fundraising with such related parties is fair and reasonable insofar as the Company's Shareholders are concerned.

The Fundraising is subject to the passing of the Resolutions at the General Meeting. Shareholder approval in respect of the Fundraising will be sought at the General Meeting which is being convened for 10:00 a.m. on 18 July 2017 at the offices of the Company at Omega House, Hillfoots Business Village, Alva FK12 5DQ. Provided that the Resolutions are passed and the Fundraising has otherwise become unconditional, completion of the Fundraising is expected to take place on 19 July 2017.

A Circular and a Notice of General Meeting will be posted to Shareholders shortly and will be available shortly on Omega's website, www.omegadiagnostics.com

Capitalised terms not otherwise defined in this announcement shall have the same meaning ascribed to such terms in the announcement released earlier today unless the context requires otherwise.

Andrew Shepherd, CEO of Omega, commented:

"We are delighted to have received such strong support from both existing and new shareholders for this fundraising. Combined with internally generated cash, the funding will allow the Board to capitalise on opportunities identified across all three of our business segments in order to accelerate the Company's growth profile and generate future growth in shareholder value."

Contacts:

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 ("MAR").