Clearbridge Health said its associate, Clearbridge BioMedics, has completed its fund-raising exercise. The $6.6 million raised will be used to set up laboratory-developed tests using Clearbridge BioMedics' technology for clinical applications, as well as to finance the potential listing of Clearbridge BioMedics.
Clearbridge BioMedics has appointed professional parties to advise on its potential listing.
Clearbridge Health said that in conjunction with the fund-raising exercise and to simplify the capital structure of Clearbridge BioMedics, all preferred shares and convertible securities were converted to ordinary shares in Clearbridge BioMedics.
Clearbridge BioMedics is a specialist in non-invasive liquid biopsy for real-time analysis of cancer cells from a standard blood draw.
Shanghai Turbo Enterprises
Shanghai Turbo Enterprises has proposed WongPartnership as its independent adviser and Nexia TS Risk Advisory as its independent reviewer.
The appointments are in line with conditions imposed by the Singapore Exchange (SGX) for granting its clearance for the circular to shareholders dated July 6 relating to a proposed extraordinary general meeting (EGM) on July 24.
WongPartnership is to oversee the progress of various legal proceedings and report directly to SGX while Nexia TS Risk Advisory is to conduct an independent review and make recommendations on the group's key internal controls and processes.
The Securities Investors Association (Singapore) on Wednesday urged Shanghai Turbo shareholders to vote against the proposed resolution to remove the incumbent board of directors at the EGM.
Tat Hong Holdings
Tat Hong Holdings will be delisted today.
The mainboard-listed crane supplier said that all its shares have been successfully acquired by a tie-up between the family of CEO Roland Ng and Standard Chartered's private equity arm.
The privatisation offer of 55 cents a share closed on June 4, with valid acceptances from shareholders amounting to 93.62 per cent of its total share capital. Dissenting shareholders have had their shares compulsorily acquired.