CapAllianz Chairman Exits as Court Declares Re-Election Resolution Invalid; Shares Plunge 50%

MT Newswires

2025/02/21

CapAllianz (SGX:594) said Yu Jinfeng has ceased to be the chairman and an independent non-executive director of the company, effective Feb. 20, according to a same-day filing with the Singapore Exchange.

The resignation follows a court hearing where it was declared that the ordinary resolution of the 2024 annual general meeting of the company, where Yu Jinfeng was re-elected as director of the company, was invalid.

Shares of the company plunged 50% in recent trading.

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