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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
No extension to 6-month pause on DBS’ non-essential activities, but 1.8 times multiplier stays
CSE Global records S$186.2 million in Q1 new orders, up 16.7%
HSBC CEO to retire; bank reports 1.7% lower Q1 profit of US$10.8 billion
Huawei profit surges 564% as it eclipses Apple in China
Singapore stocks rise, tracking regional bourses; STI up 0.3%
Boosted by name brand beers, Carlsberg sees higher sales