22 August 2023
Omega (AIM: ODX), the specialist medical diagnostics company focused on industry-leading Health and Nutrition products, announces that Chris Lea, Group Finance Director of the Company, will be stepping down as a Director and leaving the Company with immediate effect.
Chris has been instrumental in selling the Alva site and subsequent sale of the CD4 Business along with a restructuring of Omega, based in Ely, Cambridgeshire. The restructuring and disposals were key in refocusing the Company on food intolerance testing and ensuring it has sufficient resources to drive Omega forward. Chris is based in Scotland and his stepping down is in line with the Company strategy to focus more of its resources in and around the Company's headquarters in Ely, Cambridge.
As per the recent results, the Company remains very well-funded with £5.1m of cash at 31 March 2023. This is more than sufficient to build on the platform Omega has to drive a profitable and sustainable Company.
Omega intends to change its name to Cambridge Nutritional Sciences at the upcoming Annual General Meeting and intends to appoint an interim CFO shortly.
Simon Douglas, Chairman of Omega, said: "We thank Chris for all his efforts and fully appreciate how instrumental he was in the refocusing and restructuring of the Company. We wish him all the best for the future."
Omega Diagnostics Group PLC
Jag Grewal, Chief Executive Officer
via Walbrook PR
Tel: 020 7220 0500
Geoff Nash/Edward Whiley/George Dollemore (Corporate Finance)
Nigel Birks/Harriet Ward (ECM)
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About Omega Diagnostics Group PLC
Omega manufactures and distributes high quality in-vitro diagnostic products for use in hospitals, clinics, laboratories and healthcare practitioners in over 85 countries and is now focused on the health and nutrition sector.www.omegadx.com