General Announcement::SGX RegCo issues Trade With Caution alert on the shares of Healthbank Holdings Limited

Issuer & Securities

Issuer/ Manager
HEALTHBANK HOLDINGS LIMITED
Securities
HEALTHBANK HOLDINGS LIMITED - SG1AA4000002 - 40B
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
24-Feb-2023 17:22:53
Status
New
Announcement Sub Title
SGX RegCo issues Trade With Caution alert on the shares of Healthbank Holdings Limited
Announcement Reference
SG230224OTHRG6A9
Submitted By (Co./ Ind. Name)
SINGAPORE EXCHANGE REGULATION PTE LTD
Designation
SURVEILLANCE
Description (Please provide a detailed description of the event in the box below)
Singapore Exchange Regulation ("SGX RegCo") urges investors and potential investors to exercise caution when dealing in shares of Healthbank Holdings Limited ("HHL").

From 22 August 2022 to 1 November 2022, a total of 4,378,600 HHL shares were traded versus no trades executed in the 2 months before that. In particular, from 25 October 2022 to 1 November 2022, the share price soared by 75%, or $0.090, from $0.120 to close at $0.210.

SGX RegCo's review of the trading activity showed that trades by a small group of market participants accounted for almost 80% of the total volume traded between 22 August 2022 and 1 November 2022. A few days later, on 4 November 2022, the Company released an announcement on a proposed acquisition and entry into an equity transfer agreement (the "Proposed Acquisition").

SGX RegCo is reviewing the trades in HHL shares and will take the necessary actions including referring the case to statutory authorities where warranted and subjecting the Proposed Acquisition to further review. SGX RegCo has therefore issued concurrent with this Trade with Caution alert, a Notice of Compliance to HHL on the Proposed Acquisition.