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

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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Axington EGM postponed; company confirms resignation of director Kirk WagarAXINGTON'S board announced on Friday that an extraordinary general meeting (EGM) that was scheduled for yesterday had been postponed. Read more at The Business Times.
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