ALAPIS SA announces that within the framework of realizing its business plan through the partial use of the funds drawn from its recent share capital increase, proceeded to the acquisition of a 100% stake in " LABOMEND SOCIETE ANONYME INDUSTRIAL, IMPORT AND PROMOTION OF MEDICAL AND LABORATORY EQUIPMENT" with the distinctive title LABOMED S.A. (the "Company") at a price of euros 2 mil.
The Company is headquartered in Athens and it is active since 1996 in the trade of medical and laboratory equipment both in the private and the public sector. More specifically the Company trades diagnostic equipment (hematologic, biochemical and microbiological), having acquired a significant market share in the coagulation and thrombosis disease, diagnosis and control. The Company represents foreign firms, mainly from Europe, and is the exclusive representative in Greece of "analyzers" of the company AXIS-SHIELD / NORWAY, which specializes in diabetes control and diagnosis.
The company's current management, which has contributed decisively at LABOMED SA growth course so far, will continue its efforts by contributing to the Company's ongoing development and further expansion.
During FY 2006, the Company's turnover, earnings before interest tax and depreciation (EBITDA) and its earnings before tax (EBT) amounted to euros 2 mil, euros 567 thou and euros 400 thou respectively. As regards FY 2007, the Company's turnover, earnings before interest tax and depreciation (EBITDA) and its earnings before tax (EBT) are expected to reach euros 2.5 mil, euros 950 thou and euros 870 thou respectively.
ALAPIS SA, informs that all relevant information pursuant to article 289 par. 4c of the ATHEX Rulebook pertaining to this issue (relevant Board of Directors Report and relevant evaluation report of the acquired company by an audit firm) will be available at our corporate website www.alapis.eu, and will so be submitted to ATHEX in order to be available at its website as well.