21st Feb 2006 14:38
Immunodiagnostic Systems Hldgs PLC21 February 2006 21 February 2006 Immunodiagnostic Systems Holdings plc Directors Dealing and Trading Update Immunodiagnostic Systems Holdings plc ("IDS" or the "Company"), a leading producer of diagnostic testing kits for the clinical and research markets, was informed that the Directors have today sold the following ordinary shares of 2p in the Company ("Shares") at a price of 112p per Share: Shares owned Shares Resultant Resultant prior to sale Disposed holding holdingDr R T Duggan 2,568,110 174,250 2,393,860 17.94%Mr P Hailes 1,525,470 107,260 1,418,210 10.63% At flotation the Company transferred a number of Shares from the IDS EmployeeBenefit Trust ("EBT") to staff who were participants in the original managementbuy-out team in April 1996. 435,747 Shares, including the amounts relating tothe Directors above, have been sold to meet the tax liability associated withthe transfer. There is no significant cash gain to the staff or Directors inrelation to the sale. Roger Duggan commented: "Due to market appetite we have sold these Shares. An additional upside to theCompany is that this transfer via the EBT is tax allowable therefore this willreduce the profits chargeable to corporation tax, resulting in an approximately£150,000 of additional profit after tax. Trading continues in line withmanagement's expectations and we look forward to updating the market in duecourse." This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
IDH.L