Disposal of Admiral Sportswea

RNS Number : 5696Y

EKF Diagnostics Holdings PLC

24 December 2010

 



EKF Diagnostics Holdings Plc

("EKF" or the "Company")

Disposal of Admiral Sportswear Brand

EKF Diagnostics Holdings plc (AIM: EKF), the AIM listed point-of-care diagnostics business, announces that it has entered into agreement to dispose of its remaining rights in the Admiral sportswear brand for a cash consideration of approximately £830,000. Approximately £83,000 will be paid on exchange with the balance payable on or prior to 28 January 2011.

This has resulted in the total consideration for the disposal of the remaining territories in 2010 exceeding £1.8m.

Since embarking upon our disposal strategy in 2005, the Group has raised circa £10m through the disposal of Mountain Equipment, Admiral and various sponsorship terminations.   

Julian Baines, EKF, CEO commented: "Since my arrival at EKF Plc and the re-focussing of the Group into a vitro diagnostic's business, we have sought the disposal of non-core assets and I am delighted that we have now concluded the sale of the remaining Admiral sportswear territories, the net proceeds will be used to further enhance the growth of our underlying business."          

 Enquiries:

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

 

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