Q & M Dental Singapore : Completion Of The Acquisition Of Covid-19 Diagnostic Test Kits And Related Business From The Seller

Q & M DENTAL GROUP (SINGAPORE) LIMITED

(Company Registration Number 200800507R) (Incorporated in the Republic of Singapore)

COMPLETION OF THE ACQUISITION OF COVID-19 DIAGNOSTIC TEST KITS AND RELATED BUSINESS FROM ACUMEN RESEARCH LABORATORIES PTE. LTD.

The board of directors (the "Board" or "Directors") of Q & M Dental Group (Singapore) Limited (the "Company", and together with its subsidiaries, the "Group") refers to the announcement released by the Company on 23 April 2020 ("Announcement") in relation to, inter alia, the acquisition by the Company's wholly-owned subsidiary, Acumen Diagnostics Pte. Ltd. ("JVC") of COVID-19 test kits and related business from Acumen Research Laboratories Pte. Ltd. ("Seller"). Unless otherwise defined, all capitalised terms used herein shall bear the same meanings ascribed to them in the Announcement.

The Board is pleased to announce that the Proposed Acquisition and the Share Subscriptions have been completed on 3 July 2020. The Board further wishes to announce that following internal review and due diligence, the JVC has agreed to pay to the Seller an additional S$250,000 in cash subject to certain performance conditions having been met. This amount will be paid from the S$3,000,000 injected by Q & M in the JVC.

Following completion of the Share Subscriptions, the Company's shareholding in the JVC is now 51%.

By Order of the Board

Q & M Dental Group (Singapore) Limited

Vitters Sim

Chief Financial Officer 5 July 2020

For more information, please contact:

Chief Financial Officer

Vitters Sim

Tel: [phone]

Email:[e-mail]