Singapore Paincare

The counter will resume trading on Dec 8

It did not disclose the amount of the settlement

Its CEO has indemnified the company for the claimed sums

It says such communication is a breach of takeover code

Excessively discounting plainly visible value within a target company, and making spurious comparisons, may erode confidence in their independence and objectivity

The activist for good corporate governance and investor rights says the company could be worth up to S$0.37 a share, more than twice its S$0.16 offer price

It notes that the group could be worth more as ‘well-managed healthcare companies generally trade at premiums to their net asset value’

The proposal to take Singapore Paincare private comes a mere five years after IPO, and highlights the local bourse’s chronic lack of liquidity

It is agreeing to the proposed acquisition to give its shareholders an opportunity to exit their investment at a premium