Q & M Dental Group Singapore Ltd Completes Proposed Acquisition Of 100% Shareholding In Dentigiene Dental Surgery Pte Ltd

Q & M Dental Group announced that with reference to announced made earlier, regarding the conditional share sale agreement and ancillary agreements (the Agreements) with Dr Joanna Lim Jin Ling (Dr Joanna) and Dr Paul Timothy Sie Shin Min (Dr Paul) (the Current Shareholders) for the acquisition (the Proposed Acquisition) from Dr Joanna of 5,000 ordinary shares of $1.00 each and from Dr Paul of 5,000 ordinary shares of $1.00 each in the capital of Dentigiene Dental Surgery Pte Ltd (the DDS), representing 100% of DDS's issued and paid-up share capital of $10,000 divided into 10,000 ordinary shares of $1.00 each (the Shares), for a cash consideration of $500,000 (the Consideration) plus additional consideration of upto $30,000 for the fixed assets of DDS and further consideration of approximately $37,000 for the rental deposits of DDS which would be confirmed and paid on review of the management accounts as at September 30, 2012. The Company now announced that the Proposed Acquisition has been completed. Following the completion of the Proposed Acquisition, DDS has become a 100% owned subsidiary of the Group.