Doctors appointments’ web changing stakes

Senior Marketing Systems Asia has made a mandatory offer to purchase all of the ordinary and voting shares of E-channelling the previous week. The second largest shareholder at present is Trading Partners with a 28 per cent stake in the doctor appointment and channelling company.

SMS Asia is a Singapore-based company and has been working with E Channelling in a partnership venture that was set to concentrate on the company’s core business of marketing and healthcare.

Senior Marketing Systems Asia, Singapore increased its stake in EChannelling by 17.5 per cent when it purchased 21, 429, 204 ordinary shares. In this respect, the company has increased its share portfolio to 57, 946, 497 ordinary shares and holding 47.4 per cent of the voting ordinary shares in issue. Shares amounting to 16, 060, 003 were sold on Monday by British American Technologies at Rs. 14 per share to Senior Marketing Systems Asia.

Previously, SMS Asia held 29.9 per cent of the total issued and paid shares amounting to 36, 517, 293 shares.

Analysts believe that with the share value falling at less than a rupee selling off his entire stake in EChannelling for the company’s Director and CEO Ruwan Silva proved to hold good at the best price of Rs. 14.

Moreover, it was noted that SMS Asia had made previous announcements that they would be venturing into the global business of providing hospital and doctor appointments through their systems established in a number of Asian countries.

In this regard, the E-Channelling company had further stated recently with the fall in revenue contribution for E-Soft the company would now look at focusing on their core business operations. SMS Asia is said to see more value in this new business model.

Currently the second largest shareholder is Trading Partners Pvt. Ltd who hold a 28 per cent stake in the company. The market would be watching the moves by this company to ascertain if they too would sell out or not.The mandatory offer has been made at the highest price paid within the 12 months of Rs.14 at which SMS Asia bought the last amount of shares as well.

The remaining number of ordinary shares is 64, 184,918 amounting to 52.55 per cent of the total issued and paid up ordinary share capital of EChannelling.

SMS Asia was established in 2012 as a subsidiary company of SMS Co. Ltd for the purpose of investing in companies and management of overseas business of the parent company, which is a company listed on the Tokyo Stock Exchange.

SMS Asia has invested in many companies in Asia namely Korea, Vietnam, Taiwan, Indonesia, Sri Lanka and Australia for the purpose of business development in healthcare and IT sectors.