Thomson Medical to spin off real estate business via distribution in specie of RSP shares

SINGAPORE (Nov 12): Thomson Medical Group intends to spin off its real estate business to its existing shareholders via a distribution in specie by way of capital reduction of $155.97 million at between 35 cents and 60 cents per share.

In addition, the group is proposing to further reduce the group’s capital to streamline its capital structure and write off accumulated losses.

Both initiatives are subject to shareholders’ approval at an extraordinary general meeting to be held on Dec 4 at 2.00pm

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