Q&M Dental calls for EGM at Aoxin Q&M to remove director
Q&M Dental Group (Singapore) holds a 32.78% stake in Aoxin Q&M Dental Group
Q&M Dental Group (Singapore) has called for an EGM of its associate company, Aoxin Q&M 1d4 Dental Group, to remove executive director Dr Ong Siew Hwa.
The former holds a 32.78% stake in the latter.
As indicated in its requisition letter of Feb 17, Acumen Diagnostics, under Aoxin and managed by Dr Ong, is no longer in operations as its clinical laboratory licence has expired.
"It is suggested that there is no longer any requirement for Dr Ong to manage the business of Acumen" and "no commercial benefit" for her to remain as a director.
Q&M further adds that Dr Ong has not resigned from her position as a director of Aoxin despite being "obliged" to do so under a service agreement between her and Aoxin.
Q&M shares closed at 28 cents on Feb 17, up 1.79% for the day; Aoxin shares last traded at 4.2 cents.
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