REG - Integrated Diag Hdgs - Completion of EGX Delisting

Integrated Diagnostics HoldingsAnnouncement

05/09/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240905:nRSE9749Ca&default-theme=true

RNS Number : 9749C  Integrated Diagnostics Holdings PLC  05 September 2024

NOT FOR RELEASE, PUBLICATION, OR DISTRIBUTION IN ANY JURISDICTION WHERE TO DO
SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.

 

 

Integrated Diagnostics Holdings plc

 

 

Completion of EGX Delisting

 

5 September 2024

 

Integrated Diagnostics Holdings plc ("IDH" or the "Company") refers to:

 

(i)       the shareholder resolutions passed at the Company's Extraordinary
General Meetings held on 12 June 2024 and 18 July 2024 approving, amongst
other things, the voluntary delisting (the "EGX Delisting") of the Company's
ordinary shares (the "Shares") from the Egyptian Exchange (the "EGX") and the
Company's repurchase of Shares from the beneficial owners of the Shares that
were traded on the EGX and held by Misr for Central Clearing, Depository and
Registry ("MCDR") ("EGX Shares") if so required by such beneficial owners
during the relevant period;

 

(ii)      the Company's announcement on 13 August 2024 in relation to the
timeline for the share buyback under the EGX's special operations market
(OPR); and

 

(iii)      the Company's announcement on 27 August 2024 in relation to the
share buyback under the EGX's special operations market (OPR).

 

Further to the Company's repurchase of 18,673,728 EGX Shares on 26 August 2024
pursuant to the share buyback under the EGX's special operations market (OPR),
the EGX's Listing Committee has, on 4 September 2024, published its formal
decision to delist the Shares from the EGX. As a result, the Company's listing
information has been removed from the EGX's database, effective as at the
commencement of the trading session on 5 September 2024.

 

Accordingly, the EGX Delisting has become effective and completed on 4
September 2024, and the last trading date of the Shares on the EGX was 4
September 2024.

 

The Shares remain admitted to the equity shares (transition) category
(previously, the standard listing segment) of the Official List of the UK
Financial Conduct Authority and admitted to trading on the main market for
listed securities of the London Stock Exchange (the "LSE"), which is now the
sole listing venue of the Company.

 

Following the completion of the EGX Delisting, all remaining EGX Shares that
were not validly tendered into the EGX's special operations market (OPR) and
repurchased by the Company pursuant to the share buyback are no longer capable
of being traded on the EGX (such EGX Shares, the "Remaining Shares").

 

As set out in the Company's circular dated 1 July 2024, the Company will, in
accordance with the Company's Articles of Association and the laws of Jersey,
take such steps as are necessary to ensure that the Remaining Shares are no
longer held by MCDR, and instead are held directly by the relevant underlying
beneficial owners (the "Remaining Shareholders") as set out in the register
maintained by MCDR as at the date of completion of the EGX Delisting. These
steps include, amongst other things, making the relevant entries in the
Company's register of members to reflect the Remaining Shareholders as the
holders of their respective Remaining Shares in place of MCDR, and issuing and
despatching share certificates to the Remaining Shareholders in respect of
their respective holdings of Remaining Shares.

 

Thereafter, a Remaining Shareholder can, should they so wish, elect at their
own cost to engage a broker with CREST facilities to dematerialise and hold
their Remaining Shares in a form that allows such Shares to be traded on the
main market for listed securities of the LSE via CREST (subject to all
required steps having been taken, including onboarding by and engagement of
such broker, and subject to all applicable rules and procedures of CREST and
the LSE).

 

Remaining Shareholders are required to come to their own decisions in respect
of their Remaining Shares and, if in any doubt about the contents of this
announcement or what action should be taken, they are recommended to seek
their own personal financial, legal or tax advice from a stockbroker, legal,
tax or other  appropriately authorised independent financial adviser on the
possible and recommended actions to be taken in respect of their Remaining
Shares. Please note that the Company cannot provide, and is not purporting to
provide, any financial, legal or tax advice in relation to the possible
actions that could be taken in respect of the Remaining Shares.

 

For further information please contact:

 

Integrated Diagnostics Holdings plc

Tarek Yehia

Investor Relations Director

T: +20 (0)2 3332 1126 | M: +20 10 6882 6678 |    tarek.yehia@idhcorp.com
(mailto:tarek.yehia@idhcorp.com)

 

Company Secretary

Company Matters

IDHLondon@linkgroup.co.uk (mailto:IDHLondon@linkgroup.co.uk)

 

-Ends-

 

About Integrated Diagnostics Holdings (IDH)

 

IDH is a leading diagnostics services provider in the Middle East and Africa
offering a broad range of clinical pathology and radiology tests to patients
in Egypt, Jordan, Nigeria, Sudan and Saudi Arabia. The Group's core
brands include Al Borg, Al Borg Scan and Al Mokhtabar in Egypt, as well as
Biolab (Jordan), Echo-Lab (Nigeria), Ultralab and Al Mokhtabar Sudan (both
in Sudan), and Biolab KSA (Saudi Arabia).  With over 40 years of
experience, a long track record for quality and safety has earned the Company
a trusted reputation, as well as internationally recognised accreditations for
its portfolio of over 3 ,000 diagnostics tests. From its base
of 601 branches as of 31 December 2023, IDH served over 8. 5 million
patients and performed more than 36.1 million tests in 2023.  IDH will
continue to add laboratories through a Hub, Spoke and Spike business model
that provides a scalable platform for efficient expansion.  Beyond organic
growth, the Group targets expansion in appealing markets,
including acquisitions in the Middle Eastern, African, and East Asian
markets where its model is well-suited to capitalise on similar healthcare and
consumer trends and capture a significant share of fragmented markets.  IDH
is a Jersey-registered entity whose Shares are admitted to the equity shares
(transition) category (previously, the standard listing segment) of the
Official List of the UK Financial Conduct Authority and admitted to trading on
the main market for listed securities of the London Stock Exchange since May
2015 (ticker: IDHC).

 

Learn more at idhcorp.com (https://www.idhcorp.com/) .

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCKZGGLMDNGDZZ