REG - Integrated Diag Hdgs - EGX Delisting – buyback under EGX's OPR

Integrated Diagnostics HoldingsAnnouncement

27/08/2024 07:00

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RNS Number : 6872B  Integrated Diagnostics Holdings PLC  27 August 2024

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Integrated Diagnostics Holdings plc

 

 

EGX Delisting - Share buyback under EGX's special operations market (OPR)

 

27 August 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 shareholders who hold
Shares traded on the EGX held by Misr for Central Clearing, Depository and
Registry ("MCDR") ("EGX Shares", and such shareholders, "EGX Shareholders") if
so required by such EGX Shareholders during the relevant period; and

 

(ii)        the Company's announcement on 13 August 2024 in relation to
the timeline under the EGX's special operations market (OPR).

 

Further to the closing of the tender period under the EGX's special operations
market (OPR) on 22 August 2024, the Company has, on 26 August 2024, through
EFG-Hermes International Securities Brokerage as its broker, initiated the
buyback of all EGX Shares validly tendered into the special operations market
(OPR), as follows:

 

 Trading venue:                                            EGX
 Tender period under the special operations market (OPR):  18 August 2024 to 22 August 2024
 Date of buyback:                                          26 August 2024
 Expected settlement date of buyback on the EGX:           28 August 2024
 Number of EGX Shares purchased:                           18,673,728
 Purchase price per EGX Share:                             20 Egyptian pounds

 

The Company intends to hold all 18,673,728 EGX Shares purchased by the Company
(the "Repurchased Shares") as treasury shares. Following the settlement of the
Repurchased Shares on the EGX, the Company will initiate the process to remove
the Repurchased Shares from MCDR and for them to be held in the name of the
Company as treasury shares (the "Removal Process"). The Removal Process is
expected to complete on or about 2 September 2024.

 

Following the completion of the Removal Process, it is expected that:

 

(a)        the Company will hold 18,673,728 Shares as treasury shares
(i.e. the Company does not currently hold any Shares in treasury); and

 

(b)        the Company's issued share capital will comprise a total of
581,326,272 Shares excluding the Shares held in treasury, compared to a total
of 600,000,000 Shares which are currently in issue.

 

The Company will release a further announcement once the Removal Process has
been completed.

 

Shareholders should note that, following the settlement of the buyback on the
EGX and the subsequent decision of the EGX's Listing Committee (if and when
made) to delist the Company's Shares and remove the same from its database,
all remaining EGX Shares which were not validly tendered into the special
operations market (OPR) and repurchased by the Company will no longer be
capable of being traded on the EGX and will, subject to all applicable terms
and conditions and all necessary steps having been taken, be capable of being
traded on the main market for listed securities of the London Stock Exchange,
which will become the sole listing venue of the Company.

 

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 (i) 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), and (ii) until the decision of the EGX (if and when made)
to delist the Company's Shares and remove the same from its database following
completion of the Removal Process outlined above, have a secondary listing on
the Egyptian Exchange (ticker: IDHC.CA).

 

Learn more at idhcorp.com (http://idhcorp.com/) .

 

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