EKF Diagnostics Announces Share Buyback to Manage Capital Structure

EKF Diagnostics Holdings ( (GB:EKF) ) has issued an announcement.

EKF Diagnostics Holdings plc has announced the buyback of 700,000 of its ordinary shares at an average price of 22.0 pence per share, with plans for further purchases up to approximately £1.0 million. This move is part of a strategic effort to manage the company’s capital structure and maintain the indirect beneficial interest of key stakeholders, such as Christopher Mills, at a stable level. The buyback is expected to impact the company’s total voting rights, with the aim of avoiding mandatory takeover obligations under the City Code on Takeovers and Mergers.

More about EKF Diagnostics Holdings

EKF Diagnostics Holdings plc is an AIM-listed global diagnostics company specializing in point-of-care analyzers for hematology and diabetes, as well as life sciences services that manufacture enzymes and custom products for diagnostic, food, and industrial applications. The company is headquartered in Penarth, near Cardiff, and operates five manufacturing sites across the US and Germany, distributing its products to over 120 countries worldwide.

YTD Price Performance: -21.85%

Average Trading Volume: 497,653

Technical Sentiment Signal: Buy

Current Market Cap: £95.74M

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