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Rowsley to acquire TMC Life Sciences' sale warrants for RM103.75 million

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The deal involves Rowsley acquiring the privately-held Thomson Medical and a 70.36 per cent stake in Malaysia-listed TMC Life Sciences.

ROWSLEY on Saturday updated that the consideration for the TMC Life Sciences sale warrants will be RM103.75 million (S$34.81 million) - being their volume-weighted average price traded on Bursa Securities for the one-month period leading up to March 19, 2018.

This is part of Rowsley's plans to acquire the Thomson Medical healthcare businesses from controlling shareholder Peter Lim for S$1.6 billion, to be paid mostly in stock. This was announced last December.

The deal involves Rowsley acquiring the privately-held Thomson Medical and a 70.36 per cent stake in Malaysia-listed TMC Life Sciences.

To foot the bill, Rowsley will issue Mr Lim 21.3 billion new shares at S$0.075 apiece. Mr Lim will also offload some 597.3 million TMC warrants to Rowsley in exchange for about S$40.2 million in cash, it said at the time.

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