Closure of Omega Diagnostics GmbH

RNS Number : 8614M

Omega Diagnostics Group PLC

02 May 2018

 

Omega Diagnostics Group PLC

("Omega" or "the Company" or the "Group")

Closure of Omega Diagnostics GmbH

Omega (AIM: ODX), the medical diagnostics company focused on allergy, food intolerance and infectious disease, announces the closure of Omega Diagnostics GmbH ("Omega GmbH").

Further to the announcement on 10 April 2018, the Board has not been able to conclude any transaction for a sale of Omega GmbH.  The Board has therefore decided to initiate insolvency proceedings through the German court system, as soon as practically possible, under the guidance of its legal advisers.  The contingent cost associated with this closure is not expected to be more than £0.45m and could be significantly less than this figure.

For the year ended 31 March 2018, Omega GmbH had sales of approximately €3.2 million* and incurred an EBITDA loss of approximately €0.4 million*.

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

* Figures for the year ended 31 March 2018 are unaudited as at the date of this release.

Contacts:

Omega Diagnostics Group PLC	Tel: [phone]
Colin King, Chief Executive	www.omegadiagnostics.com
Kieron Harbinson, Group Finance Director
finnCap Ltd	Tel: [phone]
Geoff Nash/James Thompson (Corporate Finance)
Camille Gochez/ Abigail Wayne (Corporate Broking)
Walbrook PR Limited	Tel: [phone] or [e-mail]
Paul McManus	Mob: [phone]
Lianne Cawthorne	Mob: [phone]

 

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