IDH CEO ups stake in the Company
The transaction underscores Dr. El Sherbini's confidence in the Company's strategy and future growth potential
16 August 2022
(Cairo and London) - Dr. Hend El Sherbini, Integrated Diagnostics Holdings' chief executive officer, has purchased 7.3 million additional shares in the Company. This is in line with her commitment to deliver on the Company's growth and value creation strategy. The purchases were completed between 1 August and 12 August by Hena Holdings Limited ("Hena Holdings"), the vehicle through which Dr. El Sherbini owns her shares, and were announced on the London Stock Exchange (LSE). Following the transaction, Hena Holdings' stake in IDH has increased to 26.71% from 25.5%, continuing to represent the single largest interest in the Company.
Dr. Hend El Sherbini, commented: "I am very pleased to have increased my stake in IDH. Today, IDH stands as a regional leader in the diagnostics space, delivering high quality services to millions of patients across our four markets of operations. During the past two years, despite an unprecedentedly difficult operating environment, we have worked tirelessly to improve all aspects of the business and have laid solid foundations on which to build our next phase of development and value creation. As evidenced by my recent stock purchases, I firmly believe that we are well-placed to take full advantage of the vast growth opportunities offered by our markets, and I am excited to continue delivering superior value to our patients and shareholders."
It is important to note that the stock purchases were terminated before the start of the closed period leading up to the release of the Company's 1H 2022 earnings report.
About Integrated Diagnostics Holdings (IDH)
IDH is a leading consumer healthcare company in the Middle East and Africa with operations in Egypt, Jordan, Sudan and Nigeria. The Group's core brands include Al Borg, Al Borg Scan and Al Mokhtabar in Egypt, as well as Biolab (Jordan), Ultralab and Al Mokhtabar Sudan (both in Sudan) and Echo-Lab (Nigeria). A long track record for quality and safety has earned the Company a trusted reputation, as well as internationally recognised accreditations for its portfolio of over 2,000 diagnostics tests. From its base of 520 branches as of 31 March 2022, IDH will continue to add laboratories through a Hub, Spoke and Spike business model that provides a scalable platform for efficient expansion. Beyond organic growth, the Group's expansion plans include acquisitions in new Middle Eastern, African, and East Asian markets where its model is well-suited to capitalise on similar healthcare and consumer trends and capture a significant share of fragmented markets. IDH has been a Jersey-registered entity with a Standard Listing on the Main Market of the London Stock Exchange (ticker: IDHC) since May 2015 with a secondary listing on the EGX since May 2021 (ticker: IDHC.CA). Learn more at idhcorp.com.
Investor Relations Director
T: +20 (0)2 3345 5530 | M: +20 (0)12 2255 7445 | email@example.com
This communication contains certain forward-looking statements. A forward-looking statement is any statement that does not relate to historical facts and events, and can be identified by the use of such words and phrases as "according to estimates", "aims", "anticipates", "assumes", "believes", "could", "estimates", "expects", "forecasts", "intends", "is of the opinion", "may", "plans", "potential", "predicts", "projects", "should", "to the knowledge of", "will", "would" or, in each case their negatives or other similar expressions, which are intended to identify a statement as forward-looking. This applies, in particular, to statements containing information on future financial results, plans, or expectations regarding business and management, future growth or profitability and general economic and regulatory conditions and other matters affecting the Group.
Forward-looking statements reflect the current views of the Group's management ("Management") on future events, which are based on the assumptions of the Management and involve known and unknown risks, uncertainties and other factors that may cause the Group's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. The occurrence or non-occurrence of an assumption could cause the Group's actual financial condition and results of operations to differ materially from, or fail to meet expectations expressed or implied by, such forward-looking statements.
The Group's business is subject to a number of risks and uncertainties that could also cause a forward-looking statement, estimate or prediction to differ materially from those expressed or implied by the forward-looking statements contained in this communication. The information, opinions and forward-looking statements contained in this communication speak only as at its date and are subject to change without notice. The Group does not undertake any obligation to review, update, confirm or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this communication.