The Trendlines Group to Dispose Off Shares in Trendlines Innovation Labs; Shares Surge 17%

MT Newswires11-28 11:07

The Trendlines Group (SGX:42T) entered into an asset purchase agreement with Trendlines Labs to transfer its Trendlines Innovation Labs business division, according to a filing with the Singapore Exchange on Wednesday.

The purchase consideration comprises royalties from specific customer projects with a sharing structure from 25% to 75% and a revenue share of 5% of annual net revenues, which will be paid for 10 years starting from January capped at SG$2.4 million.

Under the agreement, Trendlines Labs will also have the option to acquire Trendlines Medical Shanghai Innovation Centre, Trendlines Labs Management and the business division of Trendlines Labs Singapore.

Shares of the healthcare services provider surged over 17% in recent trading.

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