Corporate News
Related Party Transaction
20 May 2021
MyHealthChecked Plc (AIM: MHC), the consumer home-testing healthcare company, announces that on 20 May 2021 it signed a Manufacturing Agreement and placed a further purchase order of £1.425m with EKF Diagnostic Holdings plc ("EKF") for PrimeStore® MTM sample collection devices.
This purchase is further to previous announcement of 2 December 2020 (relating to an initial purchase order for sample collection devices with EKF), and will support the supply of the MyHealthChecked COVID-19 Sample Collection Kit to the market over the summer period as travel begins to ramp up. The term of the contract is until December 2022, and may be terminated at 6 months' notice after 12 months of the initial term.
Up until 19 May 2021 Adam Reynolds, Chairman of MyHealthChecked, was a director of EKF. As the terms of the agreement have been negotiated and agreed during this period, the entering into the agreement and the placing of the purchase order have been treated as a related party transaction under the AIM Rules. Having consulted with SPARK Advisory Partners Limited, the Independent Directors (those directors other than Mr Reynolds) consider that the terms of the agreement and purchase order are fair and reasonable insofar as Shareholders are concerned.
MyHealthChecked plc | ||
Penny McCormick, Chief Executive Officer | via Walbrook PR | |
Maddy Kennedy, Chief Financial Officer | ||
SPARK Advisory Partners Limited (NOMAD) | Tel: +44 (0)20 3368 3550 | |
Neil Baldwin | ||
Oberon Capital Ltd (Broker) | Tel: +44 (0)203 179 5344 | |
Mike Seabrook | ||
Walbrook PR Ltd (Media & IR) | Tel: +44 (0)20 7933 8780 or [email protected] | |
Paul McManus | Mob: +44(0)7980 541 893 | |
About MyHealthChecked PLC (www.myhealthcheckedplc.com)
MyHealthChecked PLC, based in Cardiff, is an AIM-quoted pioneering UK healthcare company focused on a range of at-home healthcare and wellness tests.
MyHealthChecked is the umbrella brand of a range of at-home DNA and RNA tests, now in development following the acquisition of The Genome Store in November 2020. The tests will be made available online, and would be viable for over the counter purchase.
The MyHealthChecked portfolio has been identified as part of a change in mindset as customers become more familiar with the concept of accessible healthcare in the growing at home testing kit market with a focus on accessibility at the right price, led by UK-based experts.
Glossary:
PCR: polymerase chain reaction