SUNNINGDALE Tech has been approached in relation to a possible transaction involving the company' s shares, the precision manufacturer said in a holding announcement on Wednesday.

 

The board said there is no certainty or assurance that any specific or definitive transaction will materialise as a result of this approach. " Shareholders of the company are advised to exercise caution when dealing in the shares of the company and to refrain from taking any action in respect of their shares which may be prejudicial to their interests," it said.

 

The company will make further announcements as appropriate, in compliance with the Singapore Exchange Listing Manual.

 

FUND manager Quarz Capital Asia is now deemed a substantial shareholder of Sunningdale Tech, with the purchase of 4,600 shares via a market transaction on Monday having bumped its shareholding to 5.001 per cent.

 

The bourse filing reporting the change in interest on Tuesday noted that Quarz Capital' s interest in the precision manufacturer entirely comprises deemed interests, and it is deemed interested in the shares in its capacity as investment advisor and fund manager of various funds and accounts.

 

Jan Moermann, chief investment officer of Quarz Capital, said Sunningdale has progressed well despite the difficult environment, continuing to provide dividends to shareholders and showing strong growth in its healthcare segment. He added that Quarz Capital is proud of Sunningdale for being a domestic producer of surgical masks, which contributes to Singapore' s self-sufficiency in medical consumables.

 

" The Covid-19 situation provided a great opportunity to increase our stake in this high-quality company at an attractive price," he said. " The company is still trading at an attractive discount to book value and we look forward to it further ramping up its operations in 2021."