Q&M call option for private equity fund lapses

A HEALTHCARE private equity fund by the privately-held IMC Group has chosen not to take up the option to further raise its stake in Q&M Dental Group.

Q&M said on Tuesday that the call option granted to Heritas Helios Investments to subscribe for up to 63 million shares has expired.

The two-year call option was given in May 2014, when Heritas Helios Investments became a substantial shareholder of Q&M by acquiring a 10 per cent stake from existing shareholders for S$29.1 million.

The 63 million new shares would have made up 9.42 per cent of Q&M's enlarged issued capital.

After the expiry of this agreement, there are now no outstanding options or other convertible securities that can be converted into shares of the company, Q&M said.