Completion of Acquisition of Compliance Solutions

Abingdon Health PLC

15 August 2024

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE UK VERSION OF REGULATION (EU) NO 596/2014 WHICH IS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED ("MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

Abingdon Health plc

("Abingdon Health" or "the Company")

Completion of Acquisition of Compliance Solutions

York, U.K. 15 August 2024: Abingdon Health plc (AIM: ABDX), a leading international lateral flow contract research (CRO) and contract development and manufacturing organisation (CDMO), is pleased to announce the completion of the acquisition of the CS Lifesciences  group ("Compliance Solutions"), a consultancy business which specialises in meeting compliance (Quality/ Regulatory/ Clinical)  requirements in international IVD and medical device markets.

Application has been made for the admission to trading on AIM ("Admission") for the 9,216,590 new initial Consideration shares (as defined in the announcement dated 24 July 2024). It is expected that Admission will become effective on 19 August 2024.

Following the issue of the new 9,216,590 initial Consideration shares the Company will have a total of 189,523,153 Ordinary Shares in issue. The Company does not hold any shares in Treasury.

The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

The above information is provided by the Company in accordance with its obligations under the FCA's Disclosure Guidance and Transparency Rules.

The Company intends to launch, shortly, an offer to its retail shareholders at the same price as the recent placing, 9.75p per share.

Chris Yates, CEO, commented:

"We are delighted to welcome Edwin Lindsay and all the Compliance Solutions team to the Abingdon Health group. The acquisition of Compliance Solutions deepens and broadens Abingdon's regulatory service offering allowing us to fully support our customers in bringing their products from idea to commercial success."

Edwin Lindsay, Managing Director of Compliance Solutions, commented:

"We are delighted to join the Abingdon group and we look forward to working with the Abingdon team to support our growing customer base across the In Vitro Diagnostic and Medical Device Market. The regulatory landscape is going through a period of significant change and the enlarged group is well placed to support customers in navigating this complexity to achieve and maintain successful product registrations.".

Enquiries

Abingdon Health plc	www.abingdonhealth.com/investors/
Chris Yates, Chief Executive Officer	Via Walbrook PR
Chris Hand, Non-Executive Chairman
Zeus Capital Limited (Nominated Adviser and Broker)		Tel: [phone]
Chris Fielding / Isaac Hooper (Corporate Finance)
Fraser Marshall (Corporate Broking)

The person responsible for arranging the release of this announcement on behalf of the Company is Chris Yates, Chief Executive Officer of the Company.

About Abingdon Health plc

Abingdon Health is a leading lateral flow contract research (CRO) and contract development and manufacturing organisation (CDMO) offering its services to an international customer base across industry sectors that include clinical, animal health, plant health, and environmental testing. Abingdon Health has the internal capabilities to take projects from initial concept through to routine and large-scale manufacturing; from "idea to commercial success."

The Company's CDMO division offers product development, regulatory support, technology transfer and manufacturing services for customers looking to develop new assays or transfer existing laboratory-based assays to a lateral flow format. Abingdon Health aims to support the increase in need for rapid results across many industries and locations and produces lateral flow tests in areas such as infectious disease, clinical testing including companion diagnostics, animal health and environmental testing. Faster access to results allows for rapid decision making, targeted intervention and can support better outcomes. 

Abingdon Health's Abingdon Simply Test™ range of self-tests is an ecommerce platform that offers a range of self-tests to empowers consumers to manage their own health and wellbeing. The Abingdon Simply Test™ ecommerce site offers consumers a range of information to support them in making informed decisions on the tests available. In addition, the site provides Abingdon's contract services customers with a potential route to market for self-tests. The Abingdon Simply Test range is also sold through international distributors and through other channels in the UK and Ireland such as pharmacy chains.

Founded in 2008, Abingdon Health is headquartered in York, England.

For more information visit: www.abingdonhealth.com

 

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