8th Apr 2016 08:54
LONDON (Alliance News) - Point-of-care business EKF Diagnostics Holdings PLC said Friday it has appointed Christoper Mills as its non-executive chairman with immediate effect, after having appointed Ron Zwanziger to the position in November.
EKF on Friday said Mills has an interest in 81.2 million shares or 19% of the company.
Mills is chief executive and the sole shareholder of Harwood Capital Management Ltd, EKF said, as well as being the fund manager of Oryx International Growth Fund Ltd and North Atlantic Smaller Companies Investment Trust PLC. EKF didn't mention Zwanziger in its statement.
The announcement comes two months after EKF said it was trading in line with its reduced expectations, issued in November when the company's shares halved on a profit warning.
At the time, Zwanziger said he anticipates core revenue for 2016 of just over GBP30 million, excluding the company's "Achilles heel" tender business, and the company to be cash positive by April 2016, despite cash remaining tight in the first quarter due to the impact of restructuring costs.
Shares in EKF were up 5.6% at 11.50 pence on Friday.
By Hannah Boland; [email protected]; @Hannaheboland
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