Business
Sale and leaseback of building owned by Omega GmbH
Sale and leaseback of building owned by Omega GmbH.
About this update from Cambridge Nutritional Sciences Plc
[{"type":"text","content":"\n \nRNS Number : 3275K Omega Diagnostics Group PLC 06 July 2017 \n\n \nOmega Diagnostics Group PLC\n(\"Omega\" or the \"Company\")\n \nSale and leaseback of the building owned by Omega GmbH\n \nOmega (AIM: ODX), the medical diagnostics company focused on allergy, food intolerance and infectious disease, announces that it has concluded the sale and leaseback of the building owned by its wholly owned subsidiary, Omega Diagnostics GmbH.\n \nThe Company will receive gross proceeds of €800,000 and has simultaneously entered into a contract with the new landlord to lease the facility back over 15 years. A rent deposit of just under €100,000 will be retained by the landlord initially but which will reduce in stages of five-year periods.\n \nAs announced last week, the Company is proposing to raise funds from new and existing shareholders via a placing and open offer, subject to shareholder approval which will be sought at the General Meeting on 18 July 2017. The proceeds from the building sale will be used by the Company for its accelerated growth strategy as outlined in the circular sent to shareholders on 30 June 2017.\n \nKieron Harbinson, Chief Financial Officer of the Company commented: \"We are pleased to be able to supplement our proposed fundraising from the placing and open offer with the sale proceeds from this property transaction. The timing makes good sense as we embark on our accelerated growth strategy and given where the current euro/pound exchange rate sits.\"\n \nThe information communicated in this announcement is inside information for the purposes of Article 7 of EU Regulation 596/2014.\n \n \nContacts:\n \n\n\n\n\nOmega Diagnostics Group PLC \n\n\nTel: 01259 763 030\n\n\n\n\nAndrew Shepherd, Chief Executive \n\n\nwww.omegadiagnostics.com\n\n\n\n\nKieron Harbinson, Group Finance Director\n\n\n\n\n\n\n\nJag Grewal, Group Sales and Marketing Director  ...