Q&M Dental Group
Q&M Dental Group said yesterday that its associate company Aidite (Qinhuangdao) Technology proposed last Friday to make an application to delist its shares from China's National Equities Exchange and Quotations (New Third Board) to "explore certain strategic business development opportunities".
Aidite, the dental supplies manufacturing business in China, was spun off from Q&M Dental Group in 2016 and got approval to list in the New Third Board that year.
The proposed delisting is subject to the approval of the shareholders of Aidite and the New Third Board.
Aidite is proposing to table the proposed delisting for the consideration of its shareholders in its second extraordinary general meeting to be convened.
It said the proposed delisting has been approved by its directors at the 13th board meeting held last Thursday and that it has obtained written agreement from all its shareholders to support it.
Q&M Dental Group said it has agreed to support the proposed delisting. "The decision to delist is in no way indicative of the prospects of Aidite," it added.
Rex International Holding Limited said yesterday that it has received unsolicited, non-binding indications of interest in the portfolio of licences held by its 90 per cent owned subsidiary Lime Petroleum AS (LPA) from unrelated third parties.
The company said that it is carefully considering the interest, but there is no guarantee that it will lead to a formal, binding proposal for the divestment of LPA's portfolio of assets or LPA itself.
Appropriate announcements will be made if and when there are material developments, it added.