SINGAPORE - Dental clinic operator Q & M Dental Group (Singapore) Ltd on Monday night (Dec 4) said that its subsidiary Q & M Medical Group Singapore (QMGS) has entered into an agreement with Dr Felix Li Jingxiang on Nov 28, 2017, to dispose all of its shares in Q & M Medical Aesthetic & Laser Centre (QMAL) for a total consideration of S$242,000.
A sum of S$50,000 has been paid on Dec 1, 2017, with the completion of the share disposal, while the remaining amount will be payable via monthly instalments of S$12,000 over a period of 16 months from the date of completion of the share disposal.
In arriving at this consideration, the company has taken into account current market conditions, as well as the history, track record and performance of QMAL, the group said.
Based on the unaudited accounts of QMGS as at Sept 30, 2017, the net liability of the sale shares was approximately S$1,426,308, the group added.
The share disposal is not expected to have a material impact on the company, QMGS said.