Q&M Dental has approved the partial lifting of a moratorium in respect to the shares held by Dr. Hwang Yee Cheau of TP Dental Surgeons.
Hwang told Q&M Dental that she intends to make a gift to the National University of Singapore (NUS) to support the Faculty of Dentistry Development Fund. The gift will be fulfilled through the transfer of 333,333 Q&M shares to NUS.
Hwang’s shares are under moratorium until December 2020 in connection with Q&M’s acquisition of TP Dental Surgeons.
“Upon deliberation and with the unanimous approval of all the directors of the company, the Board has decided to approve the partial lifting of the Company Moratorium in respect of the Shares held by Dr. Hwang that are intended to be donated to NUS as the company fully supports Dr. Hwang for her charitable act,” Q&M said in a filing to the SGX.