Q&M has also entered into a settlement and termination deed with Wong and Wu on June 19 where all parties have agreed to a full and final settlement of any disputes, claims and counter claims between the parties. The disputes were in relation to the breach of a non-competition agreement (NCA) that was entered into by Aoxin Q & M Dental Group Limited (Aoxin), Wong, Wu and Wu Jian on Nov 26, 2012. The benefit of the NCA was subsequently assigned to Q&M on Feb 18, 2021 through a deed of assignment between Aoxin and itself.
Q&M Dental Group (SGX:QC7
) has agreed to transfer its 80% beneficial stake in Shanghai Chuangyi Investment & Management Co., Ltd. to Shanghai Zhibao Investment Consulting Co., Ltd for a consideration of RMB500,000 ($93,533.38).
Shanghai Q&M Management & Consulting Co., Ltd., through which Q&M owns its stake in Shanghai Chuangyi, entered into a transfer agreement with Wong Kee Hau, Wu Jun and Shanghai Zhibao Investment Consulting on June 19.
