Meta Health Limited has entered into a sale and purchase agreement for the acquisition of 55,000 shares, representing a 55% stake, in Jas Medical Screening Centre.
The sale consideration for the shares stood at $533,310, comprising $300,000 payable in cash and 23,331,000 Meta shares to be issued to the seller, Lian Ah Lek, at the issue price of 1 cent per share. Lian is the founder, director and shareholder of Jas Medical Screening Centre.
As at Nov 18, the clinic has an issued and paid-up share capital of $100,000 comprising 100,000 ordinary shares.
According to the group, the acquisition represents “a good opportunity for the group to build shareholder value and strengthen its financial position”.
On a pro forma basis, had the acquisition been completed on Jan 1, 2023, the group’s losses for the FY2023 would have stood at $8.5 million instead of a loss of $8.4 million. Loss per share would have stood at 1.24 cents, instead of a loss per share of 1.31 cents.
Shares in Meta Health 5DX closed flat at 7 cents on Nov 18.
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