Q & M Dental Group (Singapore) to Divest Majority Stake in EM2AI to Medi Lifestyle
MT Newswires08-17 12:34
Q & M Dental Group (Singapore) (SGX:QC7) has signed a non-binding memorandum of understanding to sell 60% of its stake in EM2AI to Medi Lifestyle for around SG$6.8 million, according to a Sunday filing with the Singapore Exchange.
Shares of Q&M Dental Group slipped 1% in Monday trading while Medi Lifestyle zoomed over 46%.
The consideration will be satisfied entirely through the issuance of 138 million new shares in Medi Lifestyle at SG$0.049 apiece.
Under the agreement, EM2AI's clinic management system business, EM2Clinic, will be excluded from the disposal.
The disposal will allow the dental services company to focus on its core dental healthcare business while retaining a 40% stake in EM2AI.
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