China Haida executive director Guo Yun resigns
GUO Yun, an executive director of China Haida, resigned from the Mainboard-listed company on Wednesday, citing health issues.
Appointed in 2004, he owns 5.67 per cent of the company, according to its latest annual report. He was responsible for all of its legal and financial matters, investor relations and expansion plans.
Mr Guo's departure comes as China Haida scrapped its planned rights issue on Monday that could have raised net proceeds of about S$3.3 million, after failing to get the green light from the Singapore Exchange (SGX).
China Haida had first proposed the rights issue back in June 2019, along with a proposal to transfer to the Catalist board. In November, the SGX rejected the latter request on the basis that China Haida's plans to turn the business around are "preliminary at this stage", and hence, there are "no compelling reasons" to allow the proposed transfer.
China Haida shares closed at S$0.007 on Wednesday, down 0.2 cent or 22.2 per cent.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Meta’s earnings flop sparks US$400 billion sell-off in tech stocks
Singapore shares open lower on Friday; STI down 0.1%
OUE wins tender to lease, develop new ‘zero-energy’ hotel at Changi Airport’s T2
Roku’s warning on ad-supported streaming competition clouds upbeat earnings
Stocks to watch: CLI, Great Eastern, MIT, Sheng Siong, iFast, OUE, Far East Orchard
ByteDance prefers TikTok shutdown in US if legal options fail: sources