Singapore Paincare Holdings Limited Issues Monthly Update on Subsidiary Winding-Up

Key Highlights for Investors

• No Material Developments: Singapore Paincare Holdings Limited (“the Company”) has announced that there are no new material developments regarding the creditors’ voluntary winding-up of its 51%-owned subsidiary, Dermatology & Laser Specialist Clinic Pte. Ltd. (“DLS”), since the previous monthly update.
• Ongoing Winding-Up Process: The process pertains to DLS, an entity in which the Company holds a majority stake. The winding-up is carried out on a creditors’ voluntary basis, which typically indicates that the subsidiary is unable to meet its financial obligations.
• Regular Updates: The Company has committed to continue providing monthly updates and will release further announcements should there be any material developments in relation to the winding-up process.

Important Information for Shareholders

• Potential Impact on Share Value: The ongoing winding-up of DLS may influence investor sentiment, especially since DLS is majority-owned by the Company. However, as there have been no new material developments, no immediate price-sensitive information has been disclosed in this update.
• Exercise Caution: Shareholders are strongly advised to refrain from taking any action regarding their securities that could be prejudicial to their interests. The Company encourages shareholders to exercise caution in trading and, if in doubt, to consult their professional advisers, such as stockbrokers, bank managers, solicitors, or accountants.
• Sponsor’s Review: The announcement was reviewed by the Company’s sponsor, Novus Corporate Finance Pte. Ltd., but not by the Singapore Exchange Securities Trading Limited (“SGX-ST”), which assumes no responsibility for the contents.

Further Details and Next Steps

• The Company’s Board, led by Executive Chairman and CEO Lee Mun Kam Bernard, has reiterated its commitment to transparency. Shareholders can expect continued monthly updates in line with Catalist Rule 704(22).
• The Company’s sponsor, Novus Corporate Finance Pte. Ltd., remains the point of contact for regulatory matters.

Conclusion

While the creditors’ voluntary winding-up of Dermatology & Laser Specialist Clinic Pte. Ltd. is an ongoing process that may have implications for Singapore Paincare Holdings Limited, this month’s update confirms that there have been no significant changes or new developments. Investors should stay attentive to future updates, as any material changes in the winding-up status could affect the Company’s financial position and, potentially, its share price.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors are advised to consult their professional advisers before making any investment decisions. The Singapore Exchange Securities Trading Limited has not reviewed this article and assumes no responsibility for its contents.

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