Q&M Group awards 7 dentists with Performance Shares,12-year Service Agreements, and a Private Placement
2022年9月30日 - 4:00PM
JCN Newswire
Mainboard-listed Q&M Dental Group (Singapore) Limited [SGX:
QC7] announced on 29 September 2022 the award of 2,014,245 shares
to 7 promising next-generation dentists as part of the Q&M
Performance Share Plan (PSP) 2018, as well as the proposed
placement of an additional 4,985,755 treasury shares, totalling
S$1.75 million, through placement to the same dentists.
These 7 Key Dentists are the recipients of awards under the PSP
2018 by Q&M in its announcement dated 29 September 2022. These
Key Dentists have also expressed their interest to subscribe for
further shares as an expression of their confidence in and their
commitment to the continued success of the company. They intend to
enter into an arrangement similar to that entered into between the
founding dentists of the Group in respect of Q&M's controlling
shareholder, Quan Min Holdings Pte. Ltd., in order to hold their
Shares in Q&M.
The placement of 4,985,755 treasury shares at a price of 35.1
Singapore cents is based on the volume weighted average price
(VWAP) for trades done on the shares
of Q&M on the Singapore Exchange for the full market day on 29
September 2022, being the market day on which the Placement Letters
were executed. This amounts to a gross consideration of S$1.75
million.
"The Board is heartened by the decision of these Key Dentists to
cement their association with the Company in tying their long-term
futures with the future success of Q&M Dental Group. These
high-performing dentists represent some of the very best of the
Company's dentists and the quality of their work is demonstrated on
a day-to-day basis. We are very pleased to see them take this next
major step. The Company's next generation management could even be
among them!" said Dr Ng Chin Siau, CEO, Q&M Dental Group.
The Board is approached from time to time by its dentists who seek
opportunities to participate in the growth of Q&M through
equity investments. Share-based incentive schemes such as PSP 2018
Plan are somewhat limited in scope and do have a direct impact on Q
&M's bottom line.
Q&M's Board is thus of the view that a placement exercise to
its own dentists brings greater benefit to the Group in the
following ways:
- Allows key dentists to participate in the equity of Q&M by
investing their own funds, thereby aligning their interests with
those of the Group. This alignment of interest promotes greater
dedication, loyalty and higher standards of performance amongst
dentists; and
- Strengthens the capital base of Q&M and increases Q&M's
public spread, which has the potential to improve the level of
trading liquidity of its Shares.
Dr Karan Singh Ubhi (one of the 7 Key Dentists) said, "We are
grateful for the opportunity given by the Board to participate in
the success of the Company and appreciate also the recognition of
the work and effort that we have put in. We are firmly committed to
the continued success of Q&M Dental Group and hope to
contribute positively to its growth going forward."
The Board believes that the Proposed Placement provides an
effective way of motivating the Key Dentists to maximise their
performance by investing in the Group's future, which will result
in creating better value for Q&M and its shareholders.
Dr Tabitha Foo, another of the 7 dentists said: "Having worked at
Q&M, I have witnessed first-hand, the commitment of the
management in identifying and grooming the next generation of
leaders and am extremely proud to be given the opportunity to
participate in this share placement and having a personal stake in
the success of Q&M."
Q&M board of directors understands that the Key Dentists are in
the process of incorporating a new company, "Quan Min Plus 2 Pte.
Ltd." to hold their Shares. The Board further notes that a similar
voluntary arrangement was entered into previously by another 9
next-gen dentists on the Group through a company called Quan Min
Plus Pte. Ltd., as announced by the Company on 23 October 2020.
Q&M intends to use all of the Net Proceeds of approximately
S$1.70 million raised for its general working capital purposes,
such as business expansions, acquisitions and/or paying off
loans.
The Board and management of Q&M will continue to work hard in
identifying the best talent within the Company, with the aim of
mentoring their growth, grooming some of them to positions of
leadership, while also giving them direct opportunities to
participate in the growth of the Company in line with their
corporate mission.
About Q&M Dental Group (Singapore) Limited [SGX QC7.SI] [BIC
QNM:SP] [RIC QMDT:SI]
Q&M Dental Group (Singapore) Limited (QC7.SI) ("Q&M" or
together with its subsidiaries, the "Group") is a leading private
dental healthcare group in Asia.
The Group owns the largest network of private dental outlets in
Singapore, operating 106 dental outlets across the country.
Underpinned by about 270 experienced dentists and over 350
supporting staff, the Group sees an average of 40,000 patient
visits a month in Singapore. The Group also operates 5 medical
clinics and a dental supplies and equipment distribution
company.
Outside of Singapore, the Group has 45 dental clinics and a dental
supplies and equipment distribution company in Malaysia, as well as
a dental clinic in the People's Republic of China ("PRC"). Q&M
is also the substantial shareholder of Aoxin Q&M Dental Group
Limited, a dental Group listed on the Catalist board of the
Singapore Exchange that operates dental clinics and hospitals
primarily in the north- eastern region of the PRC. The Group aims
to expand its operations geographically and vertically through the
value chain in Malaysia, the PRC and within the ASEAN region.
The Q&M College of Dentistry was established in 2019 to offer
postgraduate dental education as part of its commitment to
continual education and professional development of dentists. It
offers Singapore's first private postgraduate diploma programme in
clinical dentistry.
In 2020, the Group expanded into the medical laboratories and
research industry with the strategic investment into Acumen
Diagnostics Pte. Ltd. ("Acumen"). Acumen currently focuses on the
manufacture, sale and distribution of COVID-19 diagnostic test
kits, as well as COVID-19 testing. It is also working to roll out a
pipeline of new tests, including PCR assays for dengue, sepsis and,
identification of bacterial pathogens and their associated
antibiotics resistance in pneumonia and bloodstream infections.
EM2AI Pte Ltd, a wholly-owned subsidiary of the Group that focuses
on developing AI-powered solutions to diagnosis and treatment
planning has rolled out IDMS, enabling dentists within the Group's
network to administer ethical treatment plans for patients.
The Group was listed on the Mainboard of the Singapore Exchange
Securities Trading Limited ("SGX- ST") on 26 November 2009. For
more information on the Group, please visit
www.QandMDental.com.sg
SGX Links Reference:
- Press Release: https://tinyurl.com/sgx-qm-20220930-pr
- Treasury Shares: https://tinyurl.com/sgx-qm-20220930-tres
- Employee Stock Options:
https://tinyurl.com/sgx-qm-20220930-eso
For more information, please contact:
Waterbrooks Consultants Pte Ltd
Wayne Koo
Tel: +65 9338-8166
Email: wayne.koo@waterbrooks.com.sg
Derek Yeo
Tel: +65 9791-4707
Email: derek@waterbrooks.com.sg
Proud Investor Relations partner: https://www.waterbrooks.com.sg/
and https://www.shareinvestorholdings.com/
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