LONDON (ShareCast) - (Sharecast News) - EKF Diagnostics announced the distribution of shares in its investment in Verici Dx on Monday, to its shareholders.
The AIM-traded company confirmed its intention to distribute the Verici ordinary shares it would receive as a result of its participation in the recent fundraising by Verici in March, in addition to its existing shareholding in Verici.

Shareholder approval was granted at its annual general meeting on 18 May to distribute the investment shares by way of a dividend in specie to EKF shareholders on the register at the close of business on 24 June.

On 17 June, the firm's board declared a dividend in specie of the investment shares to trustees, to be held on trust for the company's shareholders.

It said the shares comprise 9,098,611 ordinary shares in Verici, with eligible EKF shareholders to receive one investment share for every 50 ordinary shares held.

"Relevant EKF shareholders will become the beneficial owners of their respective investment shares upon completion of the transfer of the investment shares to Broadway Nominees, at which time an 'omnibus' share certificate in respect of the investment shares will be issued and held by Broadway, on trust on behalf of the relevant EKF shareholders for a period of 365 days from transfer," the company explained.

"Relevant EKF shareholders will receive a letter informing them of their beneficial holdings of investment shares shortly after the transfer of the investment shares to Broadway."

During the lock-up period, EKF shareholders would not be permitted to transfer the legal or beneficial ownership of their investment shares.

At 0850 BST, shares in EKF Diagnostics Holdings were down 2.41% at 32.6p.

Reporting by Josh White at Sharecast.com.

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