MedservRegis plc - Clarification on Media Report

On 4 June 2021, Medserv plc issued an announcement in relation to an article published on the local media referring to the prospective share for share exchange with Regis Holding Limited and its shareholders. In this respect, Medserv explained that it takes allegations of potential wrongdoings very seriously and with utmost importance. Following the due diligence exercise that Medserv carried out throughout its negotiations, the company has had no reason to believe that Regis or any of its shareholders were not of good repute. Nevertheless, Medserv requested responses from the shareholders of Regis (namely, Mr Dave O’Connor and Mr Olivier Bernard) on the allegations raised in the article. In their forthcoming response, the shareholders of Regis strongly rebutted the allegations and also gave Medserv the comfort that the allegations are devoid of merit.

Medserv added that it would not have recommended the share for share exchange transaction to its shareholders unless it believed that the said transaction was in its best interest. Additionally, Medserv considers its interactions with the shareholders of Regis to be based on honesty and transparency and indeed, the shareholders of Regis have confirmed their willingness to provide any information and documentation to Medserv to evidence their integrity.

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