Q&M Dental Group QC7 is proposing to amend its performance share plan, which was adopted by the group’s shareholders at its annual general meeting (AGM) on Nov 13, 2018.
Under the changes, the group’s dentists who are not employees of the group will be eligible to be awarded shares in the group.
The move is to fulfil the group’s “primary long-term objective of motivating deserving individuals… to optimise their performance standards and efficiency and to maintain a high level of performance and contribution,” says Q&M in its March 21 filing.
“In addition, participation in the plan will motivate high-performing individuals who are integral to the group to strive for superior performance and to deliver long-term shareholder value. The plan also serves as a motivational tool to recruit and retain talented senior dentists and to reward them for group and individual performance,” it adds.
Under the current terms of the plan, only the group’s employees and directors are eligible to participate.
Q&M says it intends to call for an extraordinary general meeting (EGM) to seek its shareholders’ approval for the proposed amendment.
See also: Sembcorp issues $350 mil of guaranteed notes due 2036 at 3.65%
Shares in Q&M closed at 32.5 cents on March 21.
