Result of AGM

Amala Foods PLC
04 January 2024
 

 

Amala Foods Plc

("Amala" or the "Company")

 

Result of Annual General Meeting

 

Amala Foods Plc (LON: DISH) is pleased to announce that all Resolutions were duly passed at the Annual General Meeting held on 29 December 2023.

The Company is pleased to update the market that the transaction that was announced on 9 November 2023 and 1 December 2023 (Proposed Reverse Takeover) continues to progress.  As previously announced the target company is a newly formed healthcare group, Healthcare Medical Plus Pte Ltd with a Philippine subsidiary, Dialysis Care Plus Inc, that is building dialysis centres in the Philippines where the market for dialysis services is growing substantially every year.

Chronic Kidney Disease (CKD) is a leading cause of death globally and causes more deaths than breast cancer or prostate cancer.  It is the under-recognized public health crisis.  In the Philippines the market for dialysis services has been growing exponentially.  The government owned and controlled corporation, Philippine Health Insurance Corporation (PhilHealth), announced in 2023 the expansion of its coverage of hemodialysis to 156 hemodialysis sessions per year.

The team has an excellent track record with internationally known healthcare groups in the USA as well as locally in the Philippines.

Whilst the Directors are confident that the Proposed Reverse Takeover will be concluded prior to the end of the first quarter of 2024, there remain a number of regulatory consents that are normal for a transaction of this type that need to be obtained prior to the Proposed Reverse Takeover being concluded. Therefore, there can be no guarantee that the Proposed Reverse Takeover will be concluded, but the Company's shares will remain suspended while the transaction is ongoing.

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION EU 596/2014 ("MAR").

 

Enquiries:

 

Jonathan Morley-Kirk, Non-Executive Chairman

jmk@bluebirdmv.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 or visit 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.
 
END
 
 
UK 100

Latest directors dealings