EGX Delisting – timeline under EGX's OPR
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
EGX Delisting - timeline under EGX's special operations market (OPR)
13 August 2024
Integrated Diagnostics Holdings plc ("IDH" or the "Company") refers to 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 ("EGX Shares", and such shareholders, "EGX Shareholders") if so required by such EGX Shareholders during the relevant buyback period (the "Delisting Share Buyback").
Pursuant to the Delisting Share Buyback, the Company has today announced the opening of the EGX's special operations market (OPR) pursuant to which EGX Shareholders can tender their EGX Shares to the Company during the period from the commencement of the trading session on Sunday 18 August 2024 to the close of the trading session on Thursday 22 August 2024, at a price of EGP 20 (twenty Egyptian pounds) per EGX Share. The Company undertakes to purchase all EGX Shares tendered during this period through the special operations market (OPR).
The brokerage firm representing the Company in the share purchase process under the special operations market (OPR) is EFG-Hermes International Securities Brokerage, located at Smart Village, Km 28 - Cairo-Alexandria Desert Road, Giza.
Shareholders should note that, following the close of the special operations market (OPR) and the subsequent decision of the EGX's Listing Committee to delist the Company's Shares and remove the same from its database, any EGX Shares not tendered through the special operations market (OPR) 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 | [email protected]
Company Secretary
Company Matters
-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 (i) 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 (ticker: IDHC) since May 2015, and (ii) with a secondary listing on the Egyptian Exchange since May 2021 (ticker: IDHC.CA).
Learn more at idhcorp.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.