Livingstone Health has proposed to place 55.56 million shares at an issue price of 2.7 cents per share. The consideration from the placement will amount to some $1.5 million.

 

The proposed placement is not underwritten and will be undertaken by way of an exempt offering in Singapore in accordance with Section 272B of the Securities and Futures Act (SFA).

 

The issue price represents a discount of around 8.78% to the volume weighted average price (VWAP) of 2.96 cents for the shares traded on Feb 7.

 

The placement shares represent about 12.7% of the company&rsquo s existing share capital of 436.39 million shares. It will represent about 11.3% of the enlarged share base thereafter.

 

According to Livingstone, the proposed placement will strengthen its balance sheet in its bid to explore strategic acquisition plans and, or new business opportunities. The group is also pursuing organic growth and expanding its medical specialist teams through new recruitments to support the growing demand in healthcare services, it says.

 

On a pro forma basis, the group&rsquo s net tangible assets (NTA) per share would have been at 0.61 cents instead of 0.36 cents after the proposed placement should it have been completed on March 31, 2023.

The pro forma earnings per share (EPS), if the placement was completed on April 1, 2022, would&rsquo ve been 0.15 cents instead of 0.17 cents.

 

 

On Aug 22, Livingstone Health Holdings : PRH 0% executive director and CEO Wilson Tay Ching Yit acquired 92,000 shares of the Catalist-listed company at an average price of 11.6 cents per share. With a consideration of S$10,672, this increased Dr Tay&rsquo s total interest in the multidisciplinary healthcare group from 58.53 per cent to 58.55 per cent.

 

Between Aug 15 and 16, Livingstone Health Holdings : PRH 0% executive director and CEO Wilson Tay Ching Yit acquired 200,000 shares of the Catalist-listed company at an average price of 11.9 cents per share.

 

With a consideration of S$23,800, this increased his total interest in the multidisciplinary healthcare group from 58.48 per cent to 58.53 per cent.

 

Dr Tay specialises in anesthesiology, has 16 years of clinical experience, and is responsible for the overall strategic direction and development of the group.

 

On May 31, Livingstone Health Holdings : PRH -5.37% executive director and CEO, Wilson Tay, acquired 160,100 shares of the company for a consideration of S$22,244.

 

At an average price of 13.9 cents per share, this increased his total interest in the multidisciplinary healthcare group from 58.43 per cent to 58.47 per cent.

 

Dr Tay specialises in anaesthesiology with 15 years of clinical experience, and he is responsible for the overall strategic direction and development of the group.