Rationale for the SHA. The Business is in line with the Group’s plans to expand its business operations through, inter alia, franchising, joint ventures, acquisitions or strategic alliances, and the acquisition of new pain specialists clinics and/or clinics in other residential areas in Singapore (where the Group has no presence). The Board believes the management and operation of the Business with Xx Xxx is in the best interest of the Group as it would align the interest of Xx Xxx with that of KMPC and the Group. By Order of the Board Xxx Xxx Xxx Xxxxxxx Executive Director and Chief Executive Officer 15 September 2021 Singapore Paincare Holdings Limited (the “Company”) was listed on Catalist of the Singapore Exchange Securities Trading Limited (the “SGX-ST”) on 30 July 2020. The initial public offering of the Company was sponsored by Novus Corporate Finance Pte. Ltd. (the “Sponsor”).
Rationale for the SHA. MHC was incorporated as a joint venture vehicle of the Company and Xx Xxxx where the Company will provide the funding for the Proposed Acquisition and Xx Xxxx will contribute his professional skills to manage and operate the Business following the completion of the Proposed Acquisition. The Board believes the management and operation of the Business under a joint venture with Xx Xxxx is in the best interest of the Group as it would align the interest of Xx Xxxx with that of MHC and the Group.
