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Q & M Dental Group to spin off China unit on Catalist

Mainboard-listed Q & M Dental Group on Friday said that it has decided to proceed with the spin-off listing of Q & M Dental Holdings (China) on the Catalist board of the Singapore Exchange (SGX).

The spin-off unit comprises its business of operating dental hospitals and clinics as well as a dental equipment and supplies distribution company in China.

Q & M first suggested the possibility of such a spin-off in May 2015, at the time saying it was exploring a spin-off "on a reputable stock exchange".

SGX had on June 7 informed the dental group that it has no further comments on the matters contemplated in the pre-consultation process over the spin-off listing, which includes proposed steps to resolve potential conflict of interests.

The listing will require Q & M to undertake certain restructuring exercises, it said. "The company is in the process of finalising the terms of the restructuring exercise and a detailed announcement will be made in this regard at the appropriate time."

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The group will seek shareholders' approval at an extraordinary general meeting for the restructuring exercise and the proposed spin-off later.

Q & M closed one cent, or 1.3 per cent lower, at S$0.735 on Friday.

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