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Tomorrow will be third day of trading halt...must announce something ....
2nd day of trading halt , no announcement yet ,if good news need to announce late ?
ysh2006 ( Date: 26-Nov-2025 10:19) Posted:
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This time trading Halt, maybe god news on renew takeover news ? hope SIAS last time wake up them to give higher price.
ysh2006 ( Date: 14-Oct-2025 09:33) Posted:
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It IPO 22c hope this time take over it can give min back our IPO price or higher....
ysh2006 ( Date: 14-Oct-2025 08:59) Posted:
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Agm somewhere must hold this year,,,Nov ? than Take over document send out again hope this time better offer afer SIAS scolded them...
ysh2006 ( Date: 14-Oct-2025 07:47) Posted:
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Any news update ? Take over again after Agm..
Singapore Paincare receives letters of claim worth S$350,000 to S$450,000
Its CEO has indemnified the company for the claimed sums
[SINGAPORE] Medical services company Singapore Paincare has received letters of claim worth between S$350,000 and S$450,000, it said in a bourse filing on Tuesday (Sep 2).
Lawyers representing Lim Seow Yuen submitted two letters on Aug 6 and 7, claiming that she provided services to the company in 2020 due to &ldquo promises and assurances&rdquo allegedly made by Singapore Paincare CEO Bernard Lee.
Lee informed his company about the letters on Aug 11, denying the allegations. He said that the financial arrangements he made with Lim were in his &ldquo private capacity&rdquo . He denied that the arrangements were made on behalf of the company for its listing on SGX Catalist.
&ldquo Accordingly, there is no basis for Ms Lim&rsquo s claim against the company,&rdquo said Singapore Paincare lead independent director Wong Yee Kong in the filing. &ldquo Dr Lee is confident that the company will succeed in its defence should Ms Lim bring proceedings.&rdquo
Singapore Paincare has also been indemnified for the claimed sums by Lee, subject to him taking charge of how the company defends the case and his provision of financial security to ensure he can pay.
The company&rsquo s board added that Lim&rsquo s lawyers also issued a letter on Aug 26 to Novus Corporate Finance and the Singapore Exchange, asserting that Lee and Singapore Paincare owed Lim more than S$1 million &ndash well above the S$350,000 to S$450,000 claimed in the Aug 6 and 7 letters.
Novus Corporate Finance served as the sponsor and issue manager for Singapore Paincare during its initial public offering in 2020 and other corporate activities.
The Singapore Paincare board added that the receipt of the Aug 6 and 7 letters did not need to be disclosed as they were not material. However, it made the decision to disclose details of the claims following the Aug 26 letter.
Singapore Paincare was recently criticised by the Securities Investors Association (Singapore) over two WhatsApp messages sent to shareholders ahead of a scheme meeting. The messages, sent by Lee and chief operating officer Jeffrey Loh, were a breach of rule 8.6 of the code on takeovers and mergers, said the association.
Follow up this postponement no more news from SIAS to ask further ?
Joelton ( Date: 28-Aug-2025 12:13) Posted:
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SIAS has been zhun in many way .....management pupposely postponed the EGM to make review the price ?
ysh2006 ( Date: 02-Sep-2025 11:25) Posted:
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Just postponed the meeting shouldn't take long to come out some announcement ?...Sgx please query them.
ysh2006 ( Date: 02-Sep-2025 11:25) Posted:
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SIAS said it valued this stock at 0.37 hope management can revise the privatisation price.
Sias raps Singapore Paincare for WhatsApp pressure on shareholders over privatisation offer
It says such communication is a breach of takeover code
[SINGAPORE] The Securities Investors Association (Singapore), or Sias, is cautioning shareholders of Singapore Paincare to decide on its proposed privatisation offer by reading the independent financial adviser (IFA) report.
In May, the Catalist-listed medical-services company received an acquisition bid of S$0.16 per share from Advance Bridge Healthcare, a healthcare management consultancy. This was 27 per cent below its initial public offering price of S$0.22 per share in 2020. The counter was last traded at S$0.14 before the offer was announced.
On Wednesday (Aug 27), Sias called for the upcoming scheme meeting, where shareholders are to vote on the privatisation via a scheme of arrangement on Thursday, to be postponed. It also asked shareholders to resubmit their proxy forms.
&ldquo This will ensure fair treatment for all shareholders,&rdquo the association said.
The move follows concerns over two WhatsApp messages sent to shareholders ahead of the meeting &ndash one on Aug 16 summarising the offer and encouraging support for the delisting, and another on Aug 21 reminding them of the proxy form deadline.
Both were signed by Singapore Paincare chief executive officer Bernard Lee, and chief operating officer Jeffrey Loh.
Sias noted that such communication is a breach of rule 8.6 of the code on takeovers and mergers. The code states that, except with the Securities Industry Council&rsquo s (SIC) consent, campaigns involving direct shareholder contact can be conducted only by financial adviser staff familiar with the code&rsquo s requirements.
Given that the messages were sent before proxy submissions closed, Sias questioned the accuracy and fairness of the decision made by some of the shareholders who may have been influenced by its content.
&ldquo Shareholders of Singapore Paincare should not be pressured by the WhatsApp messages or any other form of contact,&rdquo it added.
&ldquo Disregard and ignore&rdquo
Sias was referring to a joint announcement issued by Singapore Paincare and Advance Bridge Healthcare on Aug 25, asking shareholders to &ldquo disregard and ignore&rdquo the earlier WhatsApp messages as they were sent without the consent of the SIC.
Their boards noted that the messages had urged shareholders to &ldquo take a certain course of action to facilitate the scheme and highlighted only certain information in relation to (its) merits&rdquo .
They also pointed out that Dr Lee and Dr Loh have a conflict of interest, as both are major shareholders of the offeror and senior executives of the company. The SIC had exempted them from giving any recommendations on the scheme, meaning they should not have signed the messages.
The announcement advised shareholders to rely on the official scheme document, including the recommendations of the non-conflicted directors and IFA report.
The IFA report, issued on Aug 13, stated that the offer is &ldquo fair and reasonable&rdquo and pointed out that the offeror does not intend to increase the S$0.16 cash per scheme share.
In June, Sias had advised Singapore Paincare shareholders to exercise caution and wait for the IFA report before making any decisions. At that time, the association also highlighted that the company could be valued at up to S$0.37 per share, more than double the proposed privatisation price.
On Wednesday morning, Singapore Paincare requested a trading halt, with no further details provided.
Hovering near day high @ $0.174 now on high volume of 15.6 mil
Let' s see if the shorts can push it to $0.18 at clsoing
Let' s see if the shorts can push it to $0.18 at clsoing
SmallSmall ( Date: 05-Jun-2025 13:01) Posted:
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Agree. When they IPO, they used on metric for valuing the IPO price and with it rosy sky and sunshine in near future. Then, they delist based on the most pessimistic metric... doomsday.. Many of such incidents on SGX. Glad that SIAS spoke up.
Some of them even had the cheek after privatisation at low price, relist again.. and continued to rip the investors.
Some of them even had the cheek after privatisation at low price, relist again.. and continued to rip the investors.
spursfan ( Date: 05-Jun-2025 11:31) Posted:
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There could be massive short covering later as today' s volume is very huge compared the normal volume for this stock.
let' s see if there is a shoirt squeeze later....
let' s see if there is a shoirt squeeze later....
SIAS must buy from open market then.
Can make big $.
Else only talk air.
Theoretical-valuation is different from market-based valuation.
Can make big $.
Else only talk air.
Theoretical-valuation is different from market-based valuation.
Singapore Paincare worth up to S$0.37 a share, more than double its privatisation offer: Sias
It notes that &lsquo well-managed healthcare companies generally trade at premiums to their net asset value&rsquo
[SINGAPORE] The Securities Investors Association (Singapore), or Sias, is urging minority shareholders of Singapore Paincare to hold off on selling their shares amid the proposed privatisation deal.
In a statement released on Wednesday (Jun 4), Sias noted that the company could be worth up to S$0.37 per share, which is more than double its privatisation offer of S$0.16 per share.
Especially for those who are able to afford waiting, Sias recommends that shareholders wait for the independent financial adviser (IFA) report before making any moves.
It also noted that the deal is via a scheme of arrangement, which means that approval of the scheme has to first be approved by a majority vote at the scheme meeting &ndash and by more than 75 per cent in value of the shares held by shareholders voting.
There have been past instances where shareholders sought slight gains by selling their shares in the open market before IFA&rsquo s opinion was released, said Sias.
&ldquo Shareholders who sold (shares in the open market) will not have recourse if there is a subsequent upward revision in the offer price,&rdquo Sias warned.
In its released statement, Sias highlighted that in July 2020, the medical services company listed at S$0.22 per share, when the Straits Times Index (STI) was trading at around 2,500.
Now, when the STI is up by more than 50 per cent at 3,900, it wishes to delist at S$0.16 per share.
Furthermore, its initial public offering (IPO) price was S$0.22, a 123 per cent premium to the group&rsquo s unaudited net asset value (NAV) of about S$0.0986 per share on Dec 31, 2019. This was based on the post-placement share capital and after adjusting for net proceeds due to the company from the placement.
The privatisation offer for this small Catalist company could cause SGX some discomfort
Now, the price offered under the scheme of arrangement is instead at a slight discount to the company&rsquo s NAV of S$0.166 per share as at Jun 30, 2024. Sias also noted that Singapore Paincare&rsquo s unaudited NAV as at end-December 2024 stood at S$0.163 per share.
Therefore, if the same IPO premium was to be applied now, the privatisation price should be around S$0.36 to S$0.37 per share.
Sias further noted that &ldquo well-managed healthcare companies generally trade at premiums to their NAV&rdquo .
&ldquo Sias would like to remind all offerors to treat shareholders fairly, and not to forget their promises made at the IPO. As such, they should therefore make offers that are fair and reasonable when subsequently delisting,&rdquo said David Gerald, founder, president and chief executive of Sias.
&ldquo It is also worth remembering that for a delisting to take place, the IFA has to conclude that the offer is both fair and reasonable,&rdquo he added. &ldquo All told, it would therefore be advisable to wait for the IFA&rsquo s opinion.&rdquo
It added that the price offered under the scheme of arrangement is at a slight discount to the company&rsquo s audited net asset value per share of 16.6 cents as at June 30, 2024, while the unaudited net asset value stands at 16.3 cents per share as at Dec 31, 202
&ldquo If the same IPO premium was to be applied now, the privatisation price should be around 36 cents to 37 cents,&rdquo Sias said, noting that &ldquo well-managed healthcare companies generally trade at premiums to their net asset value&rdquo .
spursfan ( Date: 05-Jun-2025 09:44) Posted:
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" Worth up to S$0.37" From Sias. now trading at far below value.
SmallSmall ( Date: 05-Jun-2025 09:38) Posted:
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