(MENAFN- ProactiveInvestors)- adds broker line new share price - EKF Diagnostics (LON:EKF) shares crashed as it warned of significant impairment charges following a review of the business by its new chairman. Ron Zwanziger a veteran of many medical companies and who took over two weeks ago said full year revenues will be approximately £32mln but results will be affected by a number of one-offs. These include the partial or complete impairment of the molecular division bad debt write-offs and closure costs of its Sanford site. EKF's molecular division includes its most high profile development Pointman a diagnostic biomarker used to analyse cells and that had been featured most recently in a study for lung cancer patients. Broker finncap previously had expected revenues of £45.9mln in the current year after it turned over £40.1mln in 2014. Zwanziger has also recommended a slimmed down board consisting of two executives and five non-executives including some external additions. David Evans has now been appointed chair of the Audit Committee following the death last week. Shares fell 25% to 11p.
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