Rowsley shareholders vote in favour of healthcare acquisition; to be renamed Thomson Medical Group Limited

ROWSLEY announced on Friday that its shareholders have voted in favour of of the proposed healthcare acquisition from "remisier king" Peter Lim, the controlling shareholder of Rowsley.

The proposed acquisition includes a 100 per cent stake in Thomson Medical and a 70.35 per cent stake in Bursa-listed TMC Life Sciences Berhad, which owns Tropicana Medical Centre.

In addition, the majority of shareholders approved all of the resolutions including the issuance of bonus and piggyback warrants, the appointments of Roy Quek Hong Sheng and Freddie Heng Kim Chuan as directors as well as the change of name to Thomson Medical Group Limited.

The acquisition will be completed subject to the successful fulfilment of the other conditions set out in the agreement.

"We are pleased with the strong vote of approval from our shareholders in favour of the company's expansion into healthcare. We will now start work on driving our new business, executing the expansion projects in Malaysia and actively pursuing growth opportunities in the healthcare sector," said Ng Ser Miang, chairman of Rowsley at the extraordinary general meeting (EGM) held today.

Upon completion, Thomson Medical Group Limited will become one of the largest listed healthcare players in Singapore.