IDS, a leading producer of diagnostic testing kits, announces the completion of the acquisition of 100% of the ordinary share capital of Nordic Bioscience Diagnostics A/S (NBD).
As previously announced, the consideration for NBD was £17,000,000, with £10,000,000 (€14,900,000) to be satisfied in cash, and the balance satisfied through the issue of 2,783,300 new Ordinary Shares in IDS, at a price of 251.5p.Application has been made for the Ordinary Shares to be admitted to trading on AIM and it is anticipated that Admission will become effective on 31 July 2007. Following the Admission the Companys issued share capital consists of 16,127,967 ordinary shares with a nominal value of 2 pence each.NBD is a leading producer of diagnostic testing kits, primarily tests for bone and cartilage biomarkers measured in osteoporosis and arthritis. NBDs laboratory testing business and internal R&D operations, which historically also have been part of NBD, will not be included in the acquisition but rather spun out to the NBD group.For the year ending 31 December 2006, NBDs EBIT (excluding the spun out businesses) was 23.46m Danish Kroner (c. £2.13m), on a turnover of 46.32m Danish Kroner (c. £4.21m). As at 31 December 2006 NBDs net assets were 10.1m Danish Kroner (c. £0.92m) (excluding the spun out businesses).
Immunodiagnostic Systems Holdings plc
Parkgreen Communications Ltd
Dr. Roger Duggan, Managing Director
Tel: 0191 519 0660
Tel: 020 7479 7933
Mob: 07980 541 893