Amala Foods PLC Result of AGM (6455Y)
04 January 2024 - 6:00PM
UK Regulatory
TIDMDISH
RNS Number : 6455Y
Amala Foods PLC
04 January 2024
Amala Foods Plc
( " Amala " or the " Company")
Result of Annual General Meeting
Amala Foods Plc (LON: DISH) is pleased to announce that all
Resolutions were duly passed at the Annual General Meeting held on
29 December 2023.
The Company is pleased to update the market that the transaction
that was announced on 9 November 2023 and 1 December 2023 (Proposed
Reverse Takeover) continues to progress. As previously announced
the target company is a newly formed healthcare group, Healthcare
Medical Plus Pte Ltd with a Philippine subsidiary, Dialysis Care
Plus Inc, that is building dialysis centres in the Philippines
where the market for dialysis services is growing substantially
every year.
Chronic Kidney Disease (CKD) is a leading cause of death
globally and causes more deaths than breast cancer or prostate
cancer. It is the under-recognized public health crisis. In the
Philippines the market for dialysis services has been growing
exponentially. The government owned and controlled corporation,
Philippine Health Insurance Corporation (PhilHealth), announced in
2023 the expansion of its coverage of hemodialysis to 156
hemodialysis sessions per year.
The team has an excellent track record with internationally
known healthcare groups in the USA as well as locally in the
Philippines.
Whilst the Directors are confident that the Proposed Reverse
Takeover will be concluded prior to the end of the first quarter of
2024, there remain a number of regulatory consents that are normal
for a transaction of this type that need to be obtained prior to
the Proposed Reverse Takeover being concluded. Therefore, there can
be no guarantee that the Proposed Reverse Takeover will be
concluded, but the Company's shares will remain suspended while the
transaction is ongoing.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE MARKET ABUSE REGULATION EU 596/2014
("MAR").
Enquiries:
Jonathan Morley-Kirk, Non-Executive Chairman
jmk@bluebirdmv.com
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END
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