General Announcement::RECEIPT OF APPROVAL FOR EXTENSION OF TIME TO COMPLY WITH MINIMUM TRADING PRICE

Issuer & Securities

Issuer/ Manager
MDR LIMITED
Securities
MDR LIMITED - SG1N26909308 - A27
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
01-Mar-2016 19:52:04
Status
New
Announcement Sub Title
RECEIPT OF APPROVAL FOR EXTENSION OF TIME TO COMPLY WITH MINIMUM TRADING PRICE
Announcement Reference
SG160301OTHRIT1E
Submitted By (Co./ Ind. Name)
Madan Mohan
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
1. INTRODUCTION

The Board of Directors (the "Board") of mDR Ltd (the "Company") wishes to announce that the Singapore Exchange Securities Trading Limited (the "SGX-ST") has on 1 March 2016, informed the Company that it has no objection to the Company's application for extension of time with regard to compliance with the Minimum Trading Price ("MTP") requirement, subject to the conditions set out below.

2. REASONS FOR SEEKING THE EXTENSION

The Company notes that based on the 6-month volume-weighted average price, the Company has been unable to record the MTP of S$0.20 for the assessment period 1 September 2015 to 29 February 2016.

The Company is actively considering various options to comply with the MTP requirement and targets to complete the required corporate action(s) on or before 1 September 2016.

3. CONDITIONS OF WAIVER

The waiver granted by the SGX-ST is subject to the following conditions:

(a) the Company announcing the period of extension granted, the reasons for seeking the extension of time and the conditions as required under Listing Rule 107;

(b) submission of a written confirmation from the Company that the extension does not contravene any laws and regulations governing the Company and the articles of association of the Company; and

(c) submission of a written confirmation from the Company that it is not aware of any information that will have a material bearing on investors' decision which has yet to be announced by the Company.

The SGX-ST reserves the right to amend and/or vary the above decision and such decision is subject to changes in the SGX-ST s policies.

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