Singapore Medical Group in talks with third party on possible share transaction, in response to query from sponsor

SINGAPORE Medical Group is in discussions with a third party regarding a possible transaction involving the company's shares, it said in a filing to the Singapore Exchange late on Friday.

This was in response to a query from its sponsor CIMB Bank Singapore regarding the unusual price movements and the significant volume of trading in the company shares on Friday.

Singapore Medical Group said that talks are preliminary, and that there is no certainty or assurance that such discussions will progress beyond the current stage or that any transaction will materialise as a result.

It will make the appropriate announcements in the event of any material developments which warrant disclosure.

About 30.97 million shares worth S$8.94 million changed hands on Friday. Singapore Medical Group's shares rose three Singapore cents, or 11.32 per cent, to close at 29.5 Singapore cents on Friday.