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Q & M Dental Group (Singapore) Ltd announces completion of proposed acquisition of 60 pct stake in Aoxin Stomatology Group

Sunday, 6 Jul 2014 07:47pm EDT 

Q & M Dental Group (Singapore) Ltd:Refers to previous announcements made on July. 30, 2013, Dec. 3, 2013 and Feb.12 regarding proposed acquisition of 60 pct stake in Aoxin Stomatology Group in Shenyang, China.Completion of proposed acquisition.Parties have also agreed that the company shall withhold 46 mln Yuan(26 mln Yuan in cash and 20 mln Yuan worth of the Company‚Äôs shares, about S$9.2 mln in total) one out of total consideration of 108 mln Yuan (about S$21.6 mln) subject to Aoxin fulfilling certain ancillary conditions.Parties have agreed that profit guarantee for year 2014 shall be prorated to reflect that the profit guarantee shall commence from July 1 and Profit Guarantee Period remains as 12 years starting from July 1 and have executed necessary agreements to give effect to this change.Says will make further announcements of material information at the appropriate junctures. 

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10:40pm EDT