Postpone privatisation scheme meeting, SIAS urges

SIAS noted that shareholders received two WhatsApp messages from Singapore Paincare executives.

The Securities Investors Association Singapore (SIAS) calls for the scheme meeting regarding the privatisation offer made for Singapore Paincare Holdings on 28 August 2025 to be postponed.

SIAS noted that many shareholders received two WhatsApp messages, one summarising the offer and encouraging shareholders to support the delisting, and a reminder message on the deadline of the proxy form.

Both messages were signed off by Bernard Lee, Chief Executive Officer and Jeffrey Loh, Chief Operating Officer of Singapore Paincare.

SIAS said it is a breach of rule 8.6 of the Code of take-overs and mergers, which states that campaigns may be conducted only by staff of the financial adviser who are fully conversant with the requirements of the Code.

“Shareholders of Singapore Paincare should not be pressured by the WhatsApp messages or any other form of contact and decide on this offer by reading the IFA report carefully and making up their own minds,” SIAS said.