Deal by Technics Oil & Gas to transfer listing status to orthopaedic clinic falls through
TECHNICS Oil & Gas and Singapore Knee, Sports and Orthopaedic Clinic have mutually agreed to terminate the agreement to transfer Technics' listing status on the mainboard to the latter.
After the termination of the agreement, the judicial manager (JM) of Technics from Deloitte & Touche said in a regulatory statement on Tuesday that he is considering whether there are any other suitable proposals that would achieve one or more of the purposes of judicial management.
Otherwise, noted the JM, the company would be headed for a winding-up as well as delisting from Singapore Exchange (SGX) and Taipei Exchange. The JM did not offer any reasons for the agreement falling through.
Technics and Singapore Knee, Sports and Orthopaedic Clinic had entered into the agreement last March on the transfer of the listing status by way of a scheme of arrangement, through which the price of S$3 million was to be satisfied by the issue of new shares in the capital of Singapore Knee, Sports and Orthopaedic Clinic.
GET BT IN YOUR INBOX DAILY
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Michelin challenges EU’s hunt for evidence of tyre cartel
First Resources denies allegations of links to firms clearing forests in Indonesia
US: Wall St opens higher on megacaps boost; earnings, Fed comments
Abbott beats quarterly profit estimates on strong medical device sales
Tesla asks investors to approve Musk’s US$56 billion pay again
Adidas shares surpass two-year high as 'terrace' sneaker trend boosts brand heat