BEST World International is applying for a two-month extension to the deadline for its annual general meeting to June 30, pending the results of an independent review of its franchise model in China.
The Singapore-headquartered group distributes skincare, nutritional and wellness products in Asia and the Middle East. In a Singapore Exchange filing after the market closed on Wednesday, Best World said the review's aim"would be better achieved" if the AGM is postponed until after the review is completed and the executive summary of its key findings announced.
"This would enable the company's shareholders to have more information on the franchise model and to clarify any questions that they may have at the AGM," Best World said.The reviewer, PricewaterhouseCoopers, was appointed on March 18 and is expected to complete its work by June. Based on an Apr 12 interim update, the reviewer has not identified any matters that may have a material impact on the group's financials for the year ended Dec 31, 2018, it added.
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:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Best World gets SGX RegCo nod to hold AGM by June 30BEST World International - the fresh target of a shortseller that probed the accounting behind the skincare product seller's profits and its sales practices - has been granted approval by the Singapore Exchange's (SGX) regulatory arm to get more time to hold its annual general meeting (AGM). Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Stocks to watch: DBS, Best World, iFast, Raffles Medical, Thakral, No Signboard, AyondoTHE following companies saw new developments that may affect trading of their shares on Monday: Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
RHB Research Institute suspends coverage on Best WorldRHB Research Institute has suspended its coverage on Best World International until findings from a review of the latter's business in China are made public. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Hot stock: Best World jumps 10% after share buybacks, director acquisitionsSHARES in Best World International surged on high volume traded in Wednesday’s early session, following a string of share buybacks and director acquisitions. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Hot stock: Best World tumbles 9% after shortseller Bonitas alleges fraudBEST World International shares fell as much as 11 per cent on Wednesday after short-seller Bonitas Research published a 28-page report that questioned the authenticity of the premium skincare firm's profits. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
SGX orders independent review of issues raised by Best World short-sellerTHE regulatory arm of the Singapore Exchange (SGX) has ordered a review of Best World International's business in China, to address all matters raised in a short-seller report after the stock fell 9 per cent on Wednesday. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Broker's take: RHB suspends coverage on Best WorldRHB Research Institute has suspended coverage on Best World International until findings from an independent review ordered by the Singapore Exchange (SGX) on the skincare maker and distributor's business in China are made public. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »