Cordlife tackles all but one of TransGlobal's proposed resolution

The company said “Shally Chen” was not listed as its director.

Cordlife Group Limited said it will tackle all resolutions from controlling shareholder TransGlobal Real Estate Group in the next extraordinary general meeting.

However, this will not cover one that pushes for the removal of “Shally Chen” as director. Cordlife said Chen is not listed as such in its business profile from the Accounting and Corporate Regulatory Authority of Singapore on 27 March 2024.

“Accordingly, Ordinary Resolution 3 is not valid and will not be tabled to Shareholders for approval,” Cordlife said in a recent regulatory filing.

ALSO READ: Cordlife halts trading pending announcement

Of the seven resolutions to be tabled, four are about removing Ho Choon Hou, Yeo Hwee Tiong, Titus Cheong, and Joseph Wong as directors.

Cordlife said approving more than one of these will affect another resolution from TransGlobal about the reappointment of two or more directors.

If shareholders favour the removal, the reappointment resolution will not be tabled since it will be considered void, Cordlife explained. Doing so also violates a provision of the Companies Act, it added.

Other resolutions to be discussed are the appointment of Teo Tong Kooi, Xu Tianhong, and Cai Yong as directors.

Cordlife also said its non-independent non-executive directors Yiu Ming Yiu, and Chow Wai Leong were nominated as directors of TransGlobal.

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