Offerer for Asian Healthcare Specialists receives additional irrevocable undertakings

THE offerer for medical group Asian Healthcare Specialists announced on Wednesday (Oct 26) that it has received additional irrevocable undertakings from shareholder Lim Cheok Peng, who owns 1.26 per cent of the total number of shares in the group.

This brings the total irrevocable undertakings obtained by offerer Labrador Park to 87.16 per cent, or 504,101,246 shares.

In an announcement on Oct 6, Labrador Park made an offer at the price of S$0.188 per share to take Asian Healthcare Specialists private. This places the company’s value at S$109 million.

The voluntary cash offer is, however, conditional upon the offerer receiving no less than 90 per cent of the total shares and all clearances, waivers and approvals must be secured from the landlords of the premises leased by the Asian Healthcare Specialists group.

At the time of announcement, Labrador Park said it had received irrevocable undertakings from shareholders amounting to 79.54 per cent of the total shares.

Shares of Asian Healthcare Specialists were trading 0.5 per cent or S$0.001 higher at S$0.187 as at 9.05 am.