Healthcare firm AsiaMedic (SGX:505) has signed a supplemental agreement to amend the terms of its acquisition of AsiaMedic Astique The Aesthetic Clinic from LE Private Clinic, according to a Thursday filing on the Singapore Exchange.
The amendment follows the termination of the service agreement of AsiaMedic stakeholder Eileen Lew on Aug. 31 for personal reasons.
As part of the amended agreement, LE Private Clinic is required to return 25 million AsiaMedic scrip shares to the company.
The shares will be managed by regulatory guidelines, with plans for disposal or cancellation awaiting shareholder approval at the April 2025 annual general meeting.
Additionally, the vendor will transfer 10 million shares to Lew's account, waiving existing lock-up restrictions. The vendor can also initiate winding up operations after fulfilling certain conditions, with AsiaMedic set to settle outstanding amounts within 30 business days.
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