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Integrated Diagnostics Holdings plc repurchased 18,673,728 EGX Shares on 26 August 2024 as part of a share buyback. The process to remove these shares from Misr for Central Clearing, Depository and Registry (MCDR) to be held as treasury shares, originally expected by 2 September 2024, is now anticipated to complete later in September 2024. The Company will provide a further announcement upon completion.
| Date | 6 Sept 2024 |
| Time | 07:00:06 |
| Category | Corporate updates |
| ID | 1497D |
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Integrated Diagnostics Holdings plc
Update on Treasury Shares Removal Process
6 September 2024
Integrated Diagnostics Holdings plc ("IDH" or the "Company") refers to the Company's announcement on 27 August 2024 (the "Buyback Announcement") in relation to the share buyback under the Egyptian Exchange's special operations market (OPR) and the Company's repurchase of 18,673,728 EGX Shares (as defined in the Buyback Announcement) (the "Repurchased Shares") on 26 August 2024 pursuant to that share buyback. As reflected in that announcement, the Company had previously expected that the removal of the Repurchased Shares from Misr for Central Clearing, Depository and Registry (MCDR) to be held in the name of the Company as treasury shares (the "Removal Process") would complete on or about 2 September 2024. This process is underway but will take longer to complete than had originally been expected and is now expected to complete later in September 2024. The Company will release a further announcement once the Removal Process has been completed.
For further information please contact:
Integrated Diagnostics Holdings plc
Tarek Yehia
Investor Relations Director
T: +20 (0)2 3332 1126 | M: +20 10 6882 6678 | [email protected]
Company Secretary
Company Matters
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About Integrated Diagnostics Holdings (IDH)
IDH is a leading diagnostics services provider in the Middle East and Africa offering a broad range of clinical pathology and radiology tests to patients in Egypt, Jordan, Nigeria, Sudan and Saudi Arabia. The Group's core brands include Al Borg, Al Borg Scan and Al Mokhtabar in Egypt, as well as Biolab (Jordan), Echo-Lab (Nigeria), Ultralab and Al Mokhtabar Sudan (both in Sudan), and Biolab KSA (Saudi Arabia). With over 40 years of experience, a long track record for quality and safety has earned the Company a trusted reputation, as well as internationally recognised accreditations for its portfolio of over 3 ,000 diagnostics tests. From its base of 601 branches as of 31 December 2023, IDH served over 8. 5 million patients and performed more than 36.1 million tests in 2023. IDH will continue to add laboratories through a Hub, Spoke and Spike business model that provides a scalable platform for efficient expansion. Beyond organic growth, the Group targets expansion in appealing markets, including acquisitions in the Middle Eastern, African, and East Asian markets where its model is well-suited to capitalise on similar healthcare and consumer trends and capture a significant share of fragmented markets. IDH is a Jersey-registered entity whose Shares are admitted to the equity shares (transition) category (previously, the standard listing segment) of the Official List of the UK Financial Conduct Authority and admitted to trading on the main market for listed securities of the London Stock Exchange since May 2015 (ticker: IDHC).
Learn more at idhcorp.com.