In view of the foregoing, VS would be considered an “interest person”.
The estimated rental fees of the premise payable during the duration of the lease are approximately $504,067, translating to about $20,320 a month, which represents 50% of the latest audited net tangible assets (NTA) of the group. The group’s latest audited NTA as of Mar 31 was about $1.0 million.
The lease is for a period not exceeding three years. The premise will be used to operate Cove Orthopaedic Clinic under CSR.
Shares in Livingstone closed at 2.9 cents on Oct 4, down 51.7% Ytd.