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IHC suspends trading voluntarily

Ousted International Healthway Corp (IHC) directors (from left) Mr Jojo Alviedo, Mr Lim Thien Su Gerald, and Ms Lim Beng Choo at the extraordinary meeting on Jan 23, 2016 at Maxwell Chambers.

INTERNATIONAL Healthway Corporation (IHC) has converted its trading halt to a voluntary trading suspension.

Issuing this statement before the market opened on Friday, its director Jackson Tay said the Interim Transition Committee and the new board of directors need more time to "determine the current state of affairs of IHC and its subsidiaries".

He said the board is working closely with its lawyers in this review.

He also clarified that IHC had told the police that ousted executive director Lim Beng Choo left the office premises in Thye Hong Centre in Leng Kee Road on Monday night with her computer and some documents, and the board had asked for police assistance.

This came after the extraordinary general meeting (EGM) held on Monday when the previous IHC board was overthrown.

Mr Tay said a formal police report will be made "in due course".

He said the new leadership will continue to keep shareholders updated on any subsequent material developments and anyone who is in doubt as to the action he or she should take should consult his or her legal, financial, tax or other professional advisers.

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