General Announcement::RECEIPT OF APPROVAL FOR EXTENSION OF TIME TO COMPLY WITH MINIMUM TRADING PRICE
Issuer & Securities
MDR LIMITED - SG1N26909308 - A27
Date &Time of Broadcast
Announcement Sub Title
RECEIPT OF APPROVAL FOR EXTENSION OF TIME TO COMPLY WITH MINIMUM TRADING PRICE
Submitted By (Co./ Ind. Name)
Description (Please provide a detailed description of the event in the box below)
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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