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Q & M Dental Group (Singapore) Ltd's Subsidiary Announces Proposed Acquisition Of 100% Shareholding In medsolutions Pte Ltd

Tuesday, 2 Apr 2013 05:42am EDT 

Q & M Dental Group (Singapore) Ltd announced that the Board of Directors of the Company and together with its subsidiaries, the Group) announced that Q & M Medical Group (Singapore) Pte Ltd (QMMG), a wholly-owned subsidiary of the Company (the Purchaser), have on April 1, 2013 entered into a conditional share sale agreement with Boey Mao Jie (BMJ) (the Current Shareholder) for the acquisition from BMJ of 120,000 ordinary shares of SGD1.00 each in the capital of Medsolutions Pte Ltd (MPL), representing 100% of MPL's issued and paid-up share capital of SGD120,000, for a cash consideration of SGD80,000 (the Consideration). Following the completion of the Proposed Acquisition, the Purchaser shall hold all the shares in MPL and accordingly MPL shall become a wholly owned subsidiary of the Company. The current shareholder of MPL is BMJ who owns the entire paid up capital of MPL. MPL owns and operates a general practice medical clinic known as Simplyhealth Medical Clinic & Surgery (Clinic) in Singapore. 

Company Quote

0.015 +3.09%
20 Aug 2014