Cordlife Group (SG:P8A) has released an update.
Cordlife Group Limited faces a legal challenge from key shareholders and directors who have filed an injunction application with the Singapore High Court. The application seeks to prevent the company from proceeding with a private placement of over 51 million new shares, alleging potential breaches of directorial duties. The petitioners also request permission to initiate proceedings on behalf of the company against the defendants, who are current members of the company’s board and executive team.
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