SINGAPORE - Shareholders of troubled cord blood bank Cordlife voted to remove three directors from its board at the company’s annual general meeting held at Temasek Club on May 14.
In the weeks leading up to the AGM, two substantial shareholders – TransGlobal Real Estate Group and Nanjing Xinjiekou Department Store – had gone head-to-head in a boardroom tussle to oust several board members and appoint new ones.Dr Ho, who is a co-founder of Cordlife, Mr Yeo, Mr Cheong and Mr Joseph Wong. Mr Wong said he would retire after the AGM.
In open letters to shareholders prior to the AGM, Dr Ho, Mr Yeo and Mr Cheong had argued that they should stay on the board because they have been the key people involved in the company’s rectification efforts and are clear about what needs to be done to turn it around. In an open letter to shareholders issued on May 9, Nanjing Xinjiekou said that if they successfully reconstituted the board, they would identify a “suitable candidate with the requisite track record and expertise in the cord blood banking industry to be Cordlife’s new group chief executive officer”.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Cordlife to raise $8.2 million from private placementThe investors are Charming Global Enterprises and a high-net-worth individual based in Singapore.
Source: STForeignDesk - 🏆 4. / 71 Read more »
Cordlife probe: Directors lodge police report over 'potential wrongdoings' of former employeesSINGAPORE: Cordlife’s board of directors has lodged a police report over “potential wrongdoings” of former employees amid a probe into mishandled cord blood units.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Cordlife probe: Directors lodge police report over 'potential wrongdoings' of former employeesSINGAPORE — Cordlife’s board of directors has lodged a police report over “potential wrongdoings” of former employees amid a probe into mishandled cord blood units.
Source: TODAYonline - 🏆 1. / 99 Read more »
Cordlife lodges police report against ex-employees for potential wrongdoingsSINGAPORE — Cordlife's board of directors has lodged a police report on April 17 over potential wrongdoings, amid an internal probe.
Source: asiaonecom - 🏆 10. / 59 Read more »
Cordlife Group aims to raise $8.04m in private placementpstrongIt issued 51.2 million new shares at $0.16 apiece./strong/p pCordlife Group Limited plans to raise $8.04m by issuing 51.2 million new ordinary shares at $0.16 a piece through a private placement./p pIn a bourse filing, Cordlife said it will issue 44.5 million shares to Charming Global Enterprises Limited and the remaining 6.
Source: SBRMagazine - 🏆 13. / 51 Read more »
Cordlife files police report against former employees for potential wrongdoingsIt is in connection with the Tank A incident, where around 2,200 cord blood units were damaged.
Source: The Straits Times - 🏆 8. / 63 Read more »