Cordlife in 'confidential and non-binding' discussions on structuring possible transactions

SINGAPORE - Cordlife Group on Monday (July 16) said it is in "confidential and non-binding discussions" related to the structuring of possible transactions, though no definitive agreements have been signed, and there is no certainty that any of these will materialise.

The statement from the private cord-blood banker was released in response to queries from the Singapore bourse regarding "unusual price movements" in the company's shares last Friday.

On July 13, the counter lost 13.7 per cent to close at 60 cents apiece, down 9.5 cents. Some 451.7 million shares exchanged hands.

In its exchange filing on Monday, the company added that it constantly explores and reviews corporate development opportunities in line with its corporate growth strategy, and will keep shareholders updated should there be any material developments in the company.

Save for the aforementioned reason, Cordlife Group is not aware of any other possible explanation for the trading, and confirmed that it is in compliance with the mainboard listing rules.