TIDMODX

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 GBP0.45m and could be significantly less than this figure.

For the year ended 31 March 2018, Omega GmbH had sales of approximately EUR3.2 million* and incurred an EBITDA loss of approximately EUR0.4 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             Tel: 01259 763 030 
  PLC 
 Colin King, Chief Executive   www.omegadiagnostics.com 
 Kieron Harbinson, Group 
  Finance Director 
 
 finnCap Ltd                         Tel: 020 7220 0500 
 Geoff Nash/James Thompson 
  (Corporate Finance) 
 Camille Gochez/ Abigail 
  Wayne (Corporate Broking) 
 
 Walbrook PR Limited              Tel: 020 7933 8780 or 
                                   omega@walbrookpr.com 
 Paul McManus                        Mob: 07980 541 893 
 Lianne Cawthorne                    Mob: 07584 391 303

This information is provided by RNS

The company news service from the London Stock Exchange

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