SINGAPORE, Sept 30, 2022 – (ACN Newswire) – Mainboard-listed Q&M Dental Group (Singapore) Limited [SGX: QC7] announced on 29 September 2022 the award of 2,014,245 shares to 7 promising next-generation dentists as part of the Q&M Performance Share Plan (PSP) 2018, as well as the proposed placement of an additional 4,985,755 treasury shares, totalling S$1.75 million, through placement to the same dentists.

These 7 Key Dentists are the recipients of awards under the PSP 2018 by Q&M in its announcement dated 29 September 2022. These Key Dentists have also expressed their interest to subscribe for further shares as an expression of their confidence in and their commitment to the continued success of the company. They intend to enter into an arrangement similar to that entered into between the founding dentists of the Group in respect of Q&M’s controlling shareholder, Quan Min Holdings Pte. Ltd., in order to hold their Shares in Q&M.

The placement of 4,985,755 treasury shares at a price of 35.1 Singapore cents is based on the volume weighted average price (VWAP) for trades done on the shares

of Q&M on the Singapore Exchange for the full market day on 29 September 2022, being the market day on which the Placement Letters were executed. This amounts to a gross consideration of S$1.75 million.

“The Board is heartened by the decision of these Key Dentists to cement their association with the Company in tying their long-term futures with the future success of Q&M Dental Group. These high-performing dentists represent some of the very best of the Company’s dentists and the quality of their work is demonstrated on a day-to-day basis. We are very pleased to see them take this next major step. The Company’s next generation management could even be among them!” said Dr Ng Chin Siau, CEO, Q&M Dental Group.

The Board is approached from time to time by its dentists who seek opportunities to participate in the growth of Q&M through equity investments. Share-based incentive schemes such as PSP 2018 Plan are somewhat limited in scope and do have a direct impact on Q &M’s bottom line.

Q&M’s Board is thus of the view that a placement exercise to its own dentists brings greater benefit to the Group in the following ways:

– Allows key dentists to participate in the equity of Q&M by investing their own funds, thereby aligning their interests with those of the Group. This alignment of interest promotes greater dedication, loyalty and higher standards of performance amongst dentists; and

– Strengthens the capital base of Q&M and increases Q&M’s public spread, which has the potential to improve the level of trading liquidity of its Shares.

Dr Karan Singh Ubhi (one of the 7 Key Dentists) said, “We are grateful for the opportunity given by the Board to participate in the success of the Company and appreciate also the recognition of the work and effort that we have put in. We are firmly committed to the continued success of Q&M Dental Group and hope to contribute positively to its growth going forward.”

The Board believes that the Proposed Placement provides an effective way of motivating the Key Dentists to maximise their performance by investing in the Group’s future, which will result in creating better value for Q&M and its shareholders.

Dr Tabitha Foo, another of the 7 dentists said: “Having worked at Q&M, I have witnessed first-hand, the commitment of the management in identifying and grooming the next generation of leaders and am extremely proud to be given the opportunity to participate in this share placement and having a personal stake in the success of Q&M.”

Q&M board of directors understands that the Key Dentists are in the process of incorporating a new company, “Quan Min Plus 2 Pte. Ltd.” to hold their Shares. The Board further notes that a similar voluntary arrangement was entered into previously by another 9 next-gen dentists on the Group through a company called Quan Min Plus Pte. Ltd., as announced by the Company on 23 October 2020.

Q&M intends to use all of the Net Proceeds of approximately S$1.70 million raised for its general working capital purposes, such as business expansions, acquisitions and/or paying off loans.

The Board and management of Q&M will continue to work hard in identifying the best talent within the Company, with the aim of mentoring their growth, grooming some of them to positions of leadership, while also giving them direct opportunities to participate in the growth of the Company in line with their corporate mission.

About Q&M Dental Group (Singapore) Limited [SGX QC7.SI] [BIC QNM:SP] [RIC QMDT:SI]

Q&M Dental Group (Singapore) Limited (QC7.SI) (“Q&M” or together with its subsidiaries, the “Group”) is a leading private dental healthcare group in Asia.

The Group owns the largest network of private dental outlets in Singapore, operating 106 dental outlets across the country. Underpinned by about 270 experienced dentists and over 350 supporting staff, the Group sees an average of 40,000 patient visits a month in Singapore. The Group also operates 5 medical clinics and a dental supplies and equipment distribution company.

Outside of Singapore, the Group has 45 dental clinics and a dental supplies and equipment distribution company in Malaysia, as well as a dental clinic in the People’s Republic of China (“PRC”). Q&M is also the substantial shareholder of Aoxin Q&M Dental Group Limited, a dental Group listed on the Catalist board of the Singapore Exchange that operates dental clinics and hospitals primarily in the north- eastern region of the PRC. The Group aims to expand its operations geographically and vertically through the value chain in Malaysia, the PRC and within the ASEAN region.

The Q&M College of Dentistry was established in 2019 to offer postgraduate dental education as part of its commitment to continual education and professional development of dentists. It offers Singapore’s first private postgraduate diploma programme in clinical dentistry.

In 2020, the Group expanded into the medical laboratories and research industry with the strategic investment into Acumen Diagnostics Pte. Ltd. (“Acumen”). Acumen currently focuses on the manufacture, sale and distribution of COVID-19 diagnostic test kits, as well as COVID-19 testing. It is also working to roll out a pipeline of new tests, including PCR assays for dengue, sepsis and, identification of bacterial pathogens and their associated antibiotics resistance in pneumonia and bloodstream infections.

EM2AI Pte Ltd, a wholly-owned subsidiary of the Group that focuses on developing AI-powered solutions to diagnosis and treatment planning has rolled out IDMS, enabling dentists within the Group’s network to administer ethical treatment plans for patients.

The Group was listed on the Mainboard of the Singapore Exchange Securities Trading Limited (“SGX- ST”) on 26 November 2009. For more information on the Group, please visit www.QandMDental.com.sg

SGX Links Reference:

– Press Release: https://tinyurl.com/sgx-qm-20220930-pr

– Treasury Shares: https://tinyurl.com/sgx-qm-20220930-tres

– Employee Stock Options: https://tinyurl.com/sgx-qm-20220930-eso

For more information, please contact:

Waterbrooks Consultants Pte Ltd

Wayne Koo

Tel: +65 9338-8166

Email: [email protected]

Derek Yeo

Tel: +65 9791-4707

Email: [email protected]

Proud Investor Relations partner: https://www.waterbrooks.com.sg/ and https://www.shareinvestorholdings.com/

Source: Q&M Dental Group Singapore Ltd

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