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Peter Lim to inject Thomson Medical, TMC into Rowsley in all-share deal

Tuesday, July 18, 2017 - 21:07

REAL estate and investment firm Rowsley said on Tuesday night that controlling shareholder, Singapore billionaire Peter Lim, will be injecting 100 per cent of Thomson Medical Pte Ltd and 70.36 per cent of Bursa Malaysia-listed TMC Life Sciences into the firm.

Rowsley's proposed acquisitions are valued at up to S$1.9 billion, and will be financed through up to 25.3 billion new shares issued to Mr Lim at S$0.075 a share. Warrants will also be issued to existing shareholders upon completion.

A sales and purchase agreement is expected to be completed within two months.

Thomson Medical Pte Ltd owns and operates Thomson Medical Centre, a hospital that focuses on obstetrics and gynaecology and paediatric services.

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TMC Life Sciences operates mainly through flagship hospital Tropicana Medical Centre.

The two companies are subsidiaries of Sasteria Pte Ltd. Rowsley has entered into a non-legally binding term sheet with Rowsley to acquire Sasteria.

Rowsley last traded at S$0.073.

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