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Axington postpones EGM, company linked to group in Newcastle takeover bid cites 'recent media developments'

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Axington is owned by Singaporean cousins Nelson Loh and Terence Loh. . Read more at straitstimes.com.

SINGAPORE - Axington Inc, a Singapore-listed company linked to the Bellagraph Nova Group which recently made a bid for Newcastle United Football Club, has postponed an extraordinary general meeting that was to be held on Thursday.

Axington, a professional services company, is owned by Singaporean cousins Nelson Loh and Terence Loh, who are not directors. Their business partner, Chinese jewellery merchant Evangeline Shen, is Axington's non-independent non-executive chairman. Following this, SGX's regulatory arm said Axington's sponsor - Novus Corporate Finance - should look into the suitability of Ms Shen as a director.

The board also announced that it is in the process of reviewing the composition of members to comply with the Code of Corporate Governance.

 

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