Key Developments Announced
Quantum Healthcare Limited (“the Company”) has received a fresh Listing and Quotation Notice (LQN) from the Singapore Exchange Securities Trading Limited (SGX-ST) for the following proposed corporate actions:
- Placement of 2,727,272,800 New Ordinary Shares: The Company is set to issue a substantial number of new shares by way of placement. This move is aimed at raising fresh capital and potentially bringing new investors into the Company.
- Conversion of Debt into 1,595,912,182 New Ordinary Shares: Debt owed by the Company will be converted into shares, significantly reducing the Company’s outstanding liabilities and improving its balance sheet. This conversion is a key step in strengthening financial stability.
- Capitalisation of S\$275,239.20 in Outstanding Directors’ Fees: Outstanding fees owed to certain present and former directors will be settled through the issuance of new shares, aligning management interests more closely with shareholders and conserving cash.
Important Information for Shareholders
Shareholders should note the following important and potentially price-sensitive details:
- Shareholder Approval Required: The issuance of the PW Debt Conversion Shares and the Directors’ Fees Capitalisation Shares is subject to shareholder approval. Investors should monitor for upcoming meetings or circulars related to these approvals, as voting outcomes may impact the Company’s direction and share price.
- Placement Shares Timeline: The Placement Shares must be placed out within 7 market days from the date of the LQN, indicating an imminent and sizable increase in the Company’s share capital. This could affect share price due to dilution and potential changes in the Company’s investor base.
- No Endorsement by SGX-ST: The LQN does not constitute an endorsement of the merits of the proposed share issuances, the Company, or its subsidiaries. It is a regulatory approval for listing and quotation only.
These developments represent a major restructuring of the Company’s capital structure, including a reduction in debt and the alignment of director interests with shareholders. The injection of new capital and reduction of liabilities can boost investor confidence, but the large increase in outstanding shares may also lead to dilution of existing holdings. Investors should consider both the immediate and long-term impacts on share value.
Next Steps and Further Announcements
The Company will continue to update shareholders on material developments related to the placement, debt conversion, and directors’ fees capitalisation. Investors are advised to stay alert for further announcements, particularly those regarding shareholder approval and the actual placement of shares.
Leadership and Sponsor Statement
The announcement was made by Thomas Tan Gim Chua, Chief Executive Officer and Executive Director. The Company’s sponsor, PrimePartners Corporate Finance Pte. Ltd., has reviewed the announcement but the SGX-ST has not examined or approved its contents.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should independently review all related materials and seek professional financial advice before making any investment decisions. The Singapore Exchange Securities Trading Limited assumes no responsibility for the contents or accuracy of this article.
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