Omega Diagnostics Gp (AIM:ODX) Result of Open Offer

Omega (AIM: ODX), the specialist medical diagnostics company focused on industry-leading Health & Nutrition and Global Health (CD4 and COVID-19) products, today announces the results of its Open Offer.

On 11 February 2022, Omega announced its intention to raise gross proceeds of up to £7 million by way of a Placing, Subscription and Open Offer (together the “Fundraising”), all at an issue price of 5 pence per New Ordinary Share.

The Open Offer closed for acceptances at 11:00 a.m. on 28 February 2022. The Company has received valid acceptances from Qualifying Shareholders in respect of their Basic Entitlements in respect of 6,468,652 New Ordinary Shares and has also received applications from Qualifying Shareholders under the Excess Application Facility in respect of 3,085,559 New Ordinary Shares. In aggregate this totals 9,554,211 New Ordinary Shares, representing approximately 23.5 per cent. of the Open Offer Shares. Accordingly, Qualifying Shareholders who have validly applied for Open Offer Shares will receive their full Basic Entitlements as well as those applied for under the Excess Application Facility.

Accordingly, a total of 109,554,211 New Ordinary Shares will be issued at the Issue Price (subject to the conditions noted below), of which, 98,700,000 New Ordinary Shares will be issued pursuant to the Placing, 1,300,000 New Ordinary Shares will be issued pursuant to the Subscription and 9,554,211 New Ordinary Shares will be issued pursuant to the Open Offer (the “Open Offer Shares”). This brings the gross proceeds of the Fundraising to £5.48 million before expenses.

General Meeting

The Fundraising remains conditional on the approval by Shareholders of the Resolutions at the Company’s General Meeting to be held on 7 March 2022 (or any adjournment thereof), the satisfaction of certain conditions in the Placing Agreement and Admission of the New Ordinary Shares to trading on AIM occurring at or before 8.00 a.m. on 8 March 2022 (or such later date as the Company and finnCap may agree, being not later than 8.00 a.m. on 31 March 2022).

The Company will announce the results of the General Meeting as soon as practicable after the meeting concludes.

Capitalised terms not otherwise defined in the text of this announcement have the meanings given to them in the Company’s circular dated 11 February 2022.

For further information, please contact:

Enquiries

Omega Diagnostics Group PLC

www.omegadiagnostics.com

Jag Grewal, Chief Executive Officer

via Walbrook PR

Chris Lea, Chief Financial Officer


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