Result of placing

 2nd Jun 2016

EKF Diagnostics Holdings plc (AIM: EKF) announces the successful completion of the Placing announced this morning. A total of 42,205,707 Placing Shares have been placed at a price of 11.25 pence per Placing Share. The Placing will raise gross proceeds of approximately £4.75 million.

The Placing, conducted by Panmure Gordon as Nominated Adviser and Corporate Broker, is conditional, inter alia, on Admission. The Placing Shares will, when issued, be credited as fully paid and will rank pari passu in all respects with the existing Ordinary Shares.

Application will be made to the London Stock Exchange for admission to trading of 42,205,707 Placing Shares on AIM ("Admission"). It is expected that Admission will take place at 8.00 a.m. on 7 June 2016 (at which time the Placing will become unconditional) and that dealings in the Placing Shares on AIM will commence at the same time.

Director dealings

The Company has been notified that North Atlantic Smaller Companies Investment Trust PLC (“NAIT”) and Oryx International Growth Fund Limited (“Oryx”) participated in the Placing as detailed below. Harwood Capital LLP (“Harwood”) is investment manager and investment adviser to NAIT and Oryx respectively. Christopher Mills, the Company’s Non-Executive Chairman, is a partner and Chief Investment Officer of Harwood. Christopher Mills is also a director of Oryx and NAIT. He holds 2.16 per cent. of the shares in Oryx in his own name as well as a further 46.44 per cent. of the shares in Oryx via his 25.06 per cent. shareholding in NAIT.

Entity

Number of Placing Shares acquired pursuant to the terms of the Placing

Resulting holding post Admission

% of enlarged issued voting share capital

Oryx

4,650,000

40,000,000

8.62%

NAIT

16,297,656

64,947,656

13.99%

Total

20,947,656

104,947,656

22.61%

The Company has also been notified today that certain other Directors of EKF have agreed to acquire Placing Shares pursuant to the terms of the Placing. The beneficial interests of the participating Directors will, on Admission, be as follows:

Director

Number of Placing Shares acquired pursuant to the terms of the Placing

Resulting holding post Admission

% of enlarged issued voting share capital

Julian Baines

133,333

1,855,288

0.40%

Adam Reynolds

88,889

3,318,613

0.71%

Defined terms used in this announcement have the same meaning as set out in the Placing announcement issued by the Company on 2 June 2016 unless otherwise stated.

Disclosure and Transparency Rules

EKF's enlarged issued share capital immediately following the issue of the Placing Shares will be 464,262,781 ordinary shares, with one vote per ordinary share held. The aforementioned figure of 464,262,781 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 in interest in, the share capital of the Company under the Disclosure and Transparency Rules.

EKF Diagnostics Holdings plc
Christopher Mills, Non-Executive Chairman
Julian Baines, CEO
Richard Evans, Finance Director and COO
00 44 29 2071 0570
 
Panmure Gordon (UK) Limited
Robert Naylor
Paul Fincham
00 44 20 7886 2500

Walbrook PR Limited
Paul McManus
Lianne Cawthorne

00 44 20 7933 8780 or ekf@walbrookpr.com
00 44 7980 541 893
00 44 7584 391 303