TalkMed says acquisition discussions remain ‘preliminary’ in third update

Jovi Ho
2-min read

In April, TalkMed said it “received indication of interest from persons who are considering acquisition of a stake in the company”

Medical oncology and stem cell services provider TalkMed Group, which announced in April “interest” from “persons” considering the acquisition of a stake in the company, says the discussions remain “preliminary”.

“There is no assurance that a transaction will take place,” reads a July 22 bourse filing.

This is the third update since its board of directors announced on April 6 that it had “received indication of interest from persons who are considering acquisition of a stake in the company”.

“Accordingly, shareholders are advised to refrain from taking any action in respect of their shares in the company, which may be prejudicial to their interests, and to exercise caution when dealing in the shares,” says its board of directors. “The company will, in compliance with its disclosure obligations under the SGX-ST Listing Rules, update shareholders in due course when it becomes aware of any material developments.”

TalkMed, a specialist cancer medical group, is controlled by group CEO Dr Ang Peng Tiam, who has an interest in 64.74% of the shares via Ladyhill Holdings. Group COO Dr Khoo Kei Siong holds another 7.49%.

On Feb 20, the company reported earnings of $32.7 million for FY2023, up 9.7% over the preceding year ended Dec 31, 2022. Revenue in the same period was up 9.4% to $83.8 million, due to higher patient numbers.

Despite the better earnings, Talkmed is paying a lower dividend of 1.3 cents for FY2023, down from 1.5 cents paid for FY2022.

TalkMed was listed back in 2014, with its IPO shares offered at 20 cents each. Its shares surged to an all-time high of 89 cents in 2017.

Shares in TalkMed closed flat at 42 cents on July 22.

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