Medtecs International: Detailed Monthly Update on Resilient Medical Liquidation Proceedings

Key Points from the Latest Announcement

• Ongoing Liquidation of Resilient Medical: The company continues to update shareholders regarding the court-supervised winding up of its subsidiary, Resilient Medical. The process is at an advanced stage, with the Court indicating that it has no further comments on the documents filed.
• Pending Court Decision: The application is now awaiting the court’s next procedural step to fix a hearing date for the final court order regarding the dissolution of Resilient Medical.
• Transfer of Assets: As part of the liquidation, the entire issued share capital in RMKH SG will be transferred to Medtecs International through a dividend in specie declared by Resilient Medical. This has already been set in motion as part of the proceedings.
• No Material Financial Impact: Based on current information, the Board has assessed that the winding-up of Resilient Medical and the asset transfer will not have a material impact on the Group’s net tangible assets per share or earnings per share for the current financial year ending 31 December 2025.
• Commitment to Further Updates: The company will continue to provide monthly and ad-hoc updates to shareholders as soon as there are any new material developments in the liquidation proceedings.

Important Information for Shareholders

• Potentially Price-Sensitive Developments:
  • The final court order regarding the dissolution of Resilient Medical is still pending. Any unexpected outcome or delay could have unforeseen implications for the Group’s asset structure or operations.
  • While the Board currently does not expect a material impact on the company’s financials, investors should be aware that any significant deviation from current expectations (for instance, additional liabilities or changes in asset valuation arising from the winding up) could affect the share price.
• Trading Caution: The company has issued a clear warning for shareholders and investors to exercise caution when dealing in Medtecs International shares. Investors are advised not to take any action that could be prejudicial to their interests without first consulting professional advisors such as stockbrokers, bank managers, or solicitors.
• Regulatory Oversight: The announcement has been reviewed by the company’s sponsor, PrimePartners Corporate Finance Pte. Ltd., but not by the Singapore Exchange (SGX). The SGX assumes no responsibility for the content or correctness of the statements made.

Detailed Developments

The Board of Medtecs International Corporation Limited continues to keep shareholders informed of the winding up of Resilient Medical, a process that has seen a series of official updates since December 2024. The latest update confirms that the Court has no further comments on the case documentation, a sign that the process is nearing its final stages. The next step is for the Court to set a hearing date, after which the final court order for the dissolution of Resilient Medical is expected.

This winding up includes the transfer of the entire issued share capital in RMKH SG to Medtecs International, structured as a dividend in specie. According to the Board’s current assessment, these actions will not materially affect the Group’s net tangible assets per share or earnings per share for the ongoing financial year ending 31 December 2025.

The company reiterates its commitment to transparency, assuring shareholders that any material developments outside the scheduled monthly updates will be promptly communicated through further announcements.

What Should Investors Do?

• Stay informed by closely monitoring the company’s official announcements regarding the Resilient Medical liquidation proceedings.
• Exercise caution in trading Medtecs International shares until the final court order is issued and any potential impact on the company is fully understood.
• Consult professional advisors if uncertain about the implications of these developments on your investment.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own due diligence and consult professional advisors before making any investment decisions. The Singapore Exchange assumes no responsibility for the content or accuracy of this article.

View Medtecs Intl Historical chart here