Deed of Variation

RNS Number : 7104V

EKF Diagnostics Holdings PLC

05 November 2010

 

EKF Diagnostics Holdings plc

("EKF" or the "Company")

Deed of Variation relating to the Acquisition of Quotient Diagnostics Limited

EKF Diagnostics Holdings plc (AIM: EKF), which has recently refocused on the in-vitro diagnostic devices market, announces it has entered into a deed of variation to amend the sale and purchase agreement ("SPA") relating to the acquisition, announced on 1 October 2010, of the entire issued share capital of Quotient Diagnostics Limited ("Quotient").

Under the terms of the deed of variation, the initial consideration has been increased from £3.41 million to £3.51 million, such increase to be satisfied by the issue of a further 472,613 new ordinary shares ("New Ordinary Shares") at a price of 22p per share, and the maximum deferred consideration payable has been reduced from £2.0 million to £1.9 million. Therefore the maximum total consideration payable for the acquisition of Quotient remains £5.41 million.

The variation to the SPA is the result of an amendment to the number of ordinary shares in the Company that were originally issued to the vendors of Quotient on 4 October 2010 and specifically relates to the conversion of certain loan notes that Quotient had issued earlier this year.

Application has been made for the New Ordinary Shares to be admitted to AIM and dealings are expected to commence on 10 November 2010.

Enquiries:

EKF Diagnostics Holdings plc Julian Baines, CEO Paul Foulger, FD	Mob: [phone] Tel: [phone]
Zeus Capital - Nominated  Adviser and Joint Broker Ross Andrews Tom Rowley	Tel: [phone]
Matrix Corporate Capital LLP - Joint Broker	Tel: [phone]
Robert Naylor Stephen Waterman
Walbrook PR Paul McManus	Tel: [phone] Mob: [phone] [e-mail]

 

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