Offer Unconditional
Hena Holdings Ltd. has announced that its mandatory cash offer for Integrated Diagnostics Holdings PLC is now unconditional, with acceptances received for 40,631,301 shares, representing 6.98% of the issued ordinary share capital. Combined with the 288,445,383 shares already held following the Elliott Transaction, Hena Holdings now controls approximately 56.60% of IDH shares. The offer, priced at US$0.50 per share, will close on August 12, 2026, and withdrawal rights have ceased.
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(a company wholly owned by Dr Hend El Sherbini and Dr Moamena Abdul Wahab Kamel)
Day 20 Acceptance level update and confirmation that Offer is Unconditional
Introduction
On 23 June 2026, Hena Holdings Ltd. ("Bidco"), a company wholly owned by Dr Hend El Sherbini (the Chief Executive Officer of IDH) and her mother, Dr Moamena Abdul Wahab Kamel, announced that it had acquired 126,000,000 IDH Shares from Actis IDH Limited (the "Seller"), an entity controlled by funds managed by Elliott Investment Management L.P. ("Elliott"), which completed on 23 June 2026 (the "Elliott Transaction") and that, as a result of the Elliott Transaction, under Rule 9 of the Takeover Code, Bidco was required to make a mandatory cash offer for the IDH Shares not already held by Bidco. Accordingly, on 23 June 2026, Bidco announced a mandatory final cash offer (the "Offer") to be made by Bidco for all of the IDH Shares not already held by Bidco at a price of US$0.50 (50 cents) in cash per IDH Share (the "Rule 2.7 Announcement").
Acceptance level update and confirmation that the Offer is now unconditional
In accordance with Rule 17 of the Code, Bidco confirms that, as at 3.00 p.m. yesterday (28 July 2026), Bidco had received valid acceptances of the Offer in respect of a total of 40,631,301 IDH Shares, representing approximately 6.98 per cent. of the existing issued ordinary share capital of IDH.
Therefore, as at 3.00 p.m. on 28 July 2026, Bidco counted, together with the 288,445,383 IDH Shares held by Bidco following completion of the Elliott Transaction, 329,076,684 IDH Shares, representing approximately 56.60 per cent. of the existing issued ordinary share capital of IDH, towards the satisfaction of the Acceptance Condition to the Offer.
As the Acceptance Condition was the sole condition precedent to the Offer, the Offer is now unconditional.
Bidco confirms that the Offer will close at 1.00 p.m. on 12 August 2026, being 14 days following the date of this announcement.
In accordance with the terms of the Offer, withdrawal rights have now ceased to be exercisable. The Offer, which remains subject to the terms and conditions set out in the Offer Document and the Form of Acceptance (in respect of IDH Shareholders who hold their IDH Shares in certificated form only), shall remain open for acceptance by all IDH Shareholders until 1.00 p.m. on 12 August 2026.
Action to be taken by IDH Shareholders
Dealing and Opening Position Disclosure Requirements
Requesting hard copy documents
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.