CHA Healthcare Singapore Pte. Ltd entered into a sale and purchase agreement to acquire an additional 17.27% stake in Singapore Medical Group Limited (Catalist:5OT) from Tony Tan Choon Keat, Beng Teck Liang, Wong Seng Weng, Ho Choon Hou and Wong Sian Jing for SGD 50.2 million on February 20, 2019. CHA Healthcare Singapore Pte. Ltd will acquire 83 million shares of Singapore Medical Group at SGD 0.605 per share. Consideration will be paid in cash before May 20, 2019. Tony Tan Choon Keat and Beng Teck Liang will sell 28.5 million shares each in Singapore Medical Group Limited representing 5.93% stake, Wong Seng Weng, Ho Choon Hou and Wong Sian Jing will respectively sell 7.5 million, 17.5 million and 1 million shares of Singapore Medical Group Limited representing 1.56%, 3.64% and 0.21% stake. Upon completion of acquisition, CHA Healthcare Singapore will hold 24.13% stake in Singapore Medical Group. In a related transaction, CHA Healthcare Singapore Pte. Ltd agreed to provide to Singapore Medical Group a convertible loan in the principal amount of SGD 10 million. Post conversion of loan into shares and completion of acquisition, CHA Healthcare Singapore will own 27.69% stake in Singapore Medical Group Limited. Non-Executive Chairman Tony Tan Choon, Chief Executive Officer and Executive Director Beng Teck Liang and Executive Director Wong Seng Weng will remain with Singapore Medical Group for the long-term in their current positions. The transaction is expected to close on May 20, 2019.