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LONDON - EKF Diagnostics Holdings plc (AIM:EKF), a global diagnostics business, announced Monday it has purchased 429,593 of its ordinary shares at a weighted average price of 26 pence per share. The repurchased shares will be held in treasury.
The company executed the share buyback on October 24, with purchase prices ranging between 25p and 27p per share. The transactions were conducted on the AIM market of the London Stock Exchange in four separate trades throughout the day.
Following the repurchase, EKF’s total issued share capital consists of 449,093,790 ordinary shares, with 4,850,115 shares held in treasury. The total number of ordinary shares carrying voting rights is now 444,243,675.
As part of the buyback, EKF acquired 127,000 ordinary shares at 26 pence per share from Harwood, which acted as investment manager to Oryx International Growth Fund Limited and North Atlantic Smaller Companies Investment Trust PLC. The company purchased 42,333 shares from Oryx and 84,667 shares from NASCIT.
The transaction was structured to ensure that the aggregate indirect beneficial interest of Christopher Mills, a Non-Executive Director at EKF, remains at approximately the same level and does not exceed 30% of the total voting rights following the repurchases. After the sale, Mills’ aggregate indirect interest in the company stands at 131,001,000 ordinary shares.
The share buyback announcement was made in accordance with the Market Abuse Regulation and the FCA’s Disclosure Guidance and Transparency Rules, according to the company’s press release statement.
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