The Board of EKF Diagnostics Holdings plc (AIM:EKF) announced the spin-off of 31.1% stake in Trellus Health Inc. on August 20, 2020. Trellus Health Inc. will distribute 28 million non-voting Trellus A Shares to its shareholders. EKF Diagnostics Holdings will distribute its entire shareholding with the exception of single "golden" share in Trellus Health. The value of the dividend in specie has not yet been determined and the number of Trellus Health's shares that each shareholder will receive has not yet been determined. The Directors of EKF Diagnostics will determine whether and when the dividend in specie occurs and, if they do so, they will then determine the value and the ratio and will then declare the dividend in specie shortly thereafter. It is Trellus Health investors' intention, in the future, to conduct initial market soundings to determine the feasibility and timing of an initial public offering, and the potential admission to trading on the AIM Market of the London Stock Exchange for Trellus Health. The deal is subject to approval of shareholders of EKF Diagnostics. The Directors of EKF Diagnostics unanimously recommend that the shareholders of EKF Diagnostics vote in favor of the deal, as they intend to do in respect of their own shareholdings. If an initial public offering was to take place the expectation would be for this to take place in early 2021. Aubrey Powell and George Tzimas of Nplus1 Singer Advisory LLP acted as financial advisors and Link Asset Services (Holdings) Limited acted as registrar to EKF Diagnostics.

The Board of EKF Diagnostics Holdings plc (AIM:EKF) completed the spin-off of 31.1% stake in Trellus Health Inc. on December 18, 2020. The record date for distribution of shares was December 17, 2020. Transfer of distributed shares took place on December 18, 2020 to Broadway Nominees Limited to be held on trust for the underlying EKF shareholders. On Admission, all A Shares will convert to Ordinary Shares. Trellus Health will seek admission of its share capital on AIM and the admission is expected to occur on May 28, 2021.