Business
AGM Statement
AGM Statement.
About this update from Cambridge Nutritional Sciences Plc
[{"type":"text","content":"\n\nOmega Diagnostics Group plc\n('Omega' or the 'Company')\n \nAGM Statement\n \nOmega (AIM: ODX), the specialist medical diagnostics company focused on industry-leading Health and Nutrition products, will hold its Annual General Meeting (AGM) today at 11.00am at Poets House, St Mary's Street, Ely, CB7 4EY.\n \nAhead of the meeting, Simon Douglas, Chairman of the Company, will make the following statement:\n \n\"At the start of the new financial year we continue to work towards achieving our strategic objectives for our Health and Nutrition Business, maintaining our market leading position whilst targeting organic growth to gain momentum and create value for our shareholders.\n \nWhilst we maintain a very strong order book, one of our leading products, the FoodPrint® test, had some production challenges towards the end of the year which resulted in a drop in production yields and, as a consequence, a backlog in the fulfilment of some orders. As announced with our results last month, we have embedded new working practices that are now generating significantly higher production yields that will allow us to successfully address the order backlog. We have established new preventative procedures and will continue to make further improvements. \n \nWe remain well-funded to deliver against our strategic objectives. We have started our journey into the US market and we will continue to work closely with strategic partners to develop bespoke microbiome and nutrigenomic test reports. The recent successful launch of our new digital \"app\", MyHealthTracker, will support our strong position in the market and give us a direct connection with our customers.\n \nWe are implementing the final parts of the turnaround strategy outlined last year. A turnaround year where we established a clear focus, with new objectives. It has seen a significant shift in the business, and our proposed name change to Cambridge Nutritional Sciences PLC (LON: CNSL) builds on our CNSLab brand and better reflects our goal of promoting a personalised and functional approach to health and nutrition. We will continue to reshape and restructure the Company as we implement our new strategy.\n \nFinally, as previously announced, the Board continues to vigorously pursue its substantial counterclaim for lo...