Pacific Healthcare to sell 73 mln shares to Al-Faiz

The 73,012,692 shares to Al-Faiz Fund I Limited represents an approximately 26% of the total existing share capital.

Pacific Healthcare Ltd is giving 73,013, 692 shares to Al-Faiz Fund I Limited (AFF) or worth S$8 million for a price of S$0.11 per share, a report from Pacific Healthcare said on Wednesday.

CEO and Executive Director of Pacific Healthcare, Dr Chong Lai Leong William, has also sold 15 million vendor shares to AFF or S$1.65 million at S$0.11 per share on 30 June 2010.

The new shares issued to AFF shall rank pari passu in all respects with the shares existing as at the date of the allotment and issuance of the new shares on completion.

AFF will now hold a total of 88,012,692 shares representing approximately 24.87% of the enlarged issued share capital of the company while Dr Chong will hold an aggregate number of 64,953,684 shares, representing approximately 18.36% of the enlarged issued share capital of the company.