PRG Holdings in talks to extend deadline for purchase of Roopi Medical Centre

June 19, 2018 | By | Reply More

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PETALING JAYA: PRG Holdings Bhd is in talks for an extension of time for the proposed acquisition of Roopi Medical Centre Sdn Bhd and its properties, after conditions under the agreements were not fulfilled within the stipulated time frame.

PRG’s subsidiary PRG Healthcare Sdn Bhd (PHSB) entered into a share sale agreement (SSA) for the entire stake acquisition in Roopi Medical Centre Sdn Bhd (RMC) and its properties for RM18.3 million in January this year.

The group said in a stock exchange filing today that the agreements signed with RMC and Linecom Corp Sdn Bhd, for the two properties currently used by RMC, have not been fulfilled within the stipulated deadline of June 19.

Linecom and RMC share the same shareholders, Datuk Dr Roopi and Charanjeet.

In the event the parties to the SSA and properties SPA are not able to agree on the proposed extension, they will be entitled to terminate the agreements, said the group’s board of directors.

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