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Q&M Dental receives proposal for disposal of remaining stake in Aidite
Q&M Dental Group has received a non-binding proposal from certain shareholders of Aidite (Qinhuangdao) Technology, in respect of the group's disposal of its remaining stake in the associate, the Mainboard-listed firm said in a holding announcement on Thursday evening.
Talks on this proposal are ongoing and no definitive terms have been agreed upon between the parties, said Q&M Dental Group. "Further, there is no certainty or assurance whatsoever that any transaction will arise from these discussions."
Q&M Dental Group has an effective interest of 9.19 per cent in Aidite, held through its unit Q&M Aidite International (QMAI).
This follows an Oct 10, 2019 share-transfer agreement in which QMAI had agreed to dispose of 36 per cent of Aidite's registered capital to Suzhou Junlian Xinkang Venture Capital Partnership, Health Advance Limited, Schroder Adveq Asia Hong Kong I and ASP Hero SPV.
The company announced the completion of the disposal on April 9, 2020. QMAI now holds 12.246 per cent of Aidite's registered capital.
In its holding announcement on Thursday, Q&M Dental Group, noting that there was no certainty that any definitive agreement will be entered into, advised shareholders and potential investors to exercise caution when dealing or trading in its shares,
Q&M Dental Group shares closed down 0.5 Singapore cent or 1.06 per cent at 46.5 Singapore cents on Thursday before the announcement.