Isec CEO, shareholders in advanced talks for stake sale to third party

ISEC Healthcare's chief executive officer (CEO) and certain shareholders of the company are at an advanced stage of negotiations with a third-party purchaser for the sale of part of their shares in the company, Isec Healthcare said in a filing to the Singapore Exchange on Tuesday.

The potential transaction, if completed, is likely to lead to an offer for the shares of the company in due course.

Isec received the notification from executive director and CEO Wong Jun Shyan for himself and on behalf of certain shareholders of the company who are also employees, including executive vice-chairman Lee Hung Ming. 

"No definitive sale-and-purchase agreement has been entered into in respect of the potential transaction," Isec Healthcare warned. "If any definitive sale-and-purchase agreement is entered into, such agreement may also be conditional in nature and there is no assurance that any potential transaction will be completed or that an offer will be made in due course."