Sale and leaseback of building owned by Omega GmbH

RNS Number : 3275K
Omega Diagnostics Group PLC
06 July 2017
 

 

Omega Diagnostics Group PLC

("Omega" or the "Company")

 

Sale and leaseback of the building owned by Omega GmbH

 

Omega (AIM: ODX), the medical diagnostics company focused on allergy, food intolerance and infectious disease, announces that it has concluded the sale and leaseback of the building owned by its wholly owned subsidiary, Omega Diagnostics GmbH.

 

The Company will receive gross proceeds of €800,000 and has simultaneously entered into a contract with the new landlord to lease the facility back over 15 years. A rent deposit of just under €100,000 will be retained by the landlord initially but which will reduce in stages of five-year periods.

 

As announced last week, the Company is proposing to raise funds from new and existing shareholders via a placing and open offer, subject to shareholder approval which will be sought at the General Meeting on 18 July 2017. The proceeds from the building sale will be used by the Company for its accelerated growth strategy as outlined in the circular sent to shareholders on 30 June 2017.

 

Kieron Harbinson, Chief Financial Officer of the Company commented: "We are pleased to be able to supplement our proposed fundraising from the placing and open offer with the sale proceeds from this property transaction. The timing makes good sense as we embark on our accelerated growth strategy and given where the current euro/pound exchange rate sits."

 

The information communicated in this announcement is inside information for the purposes of Article 7 of EU Regulation 596/2014.

 

 

Contacts:

 

Omega Diagnostics Group PLC                         

Tel: 01259 763 030

Andrew Shepherd, Chief Executive                             

www.omegadiagnostics.com

Kieron Harbinson, Group Finance Director


Jag Grewal, Group Sales and Marketing Director                                                  

 



finnCap Ltd                                              

Tel: 020 7220 0500

Geoff Nash/James Thompson (Corporate Finance)


Mia Gardner (Corporate Broking)




Walbrook PR Limited

Tel: 020 7933 8780 or omega@walbrookpr.com

Paul McManus

Mob: 07980 541 893

Lianne Cawthorne

Mob: 07584 391 303

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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