Minority shareholders caught in Nobel Design saga
THE recent public fallout between the single largest shareholder and the board of furniture supplier Nobel Design is yet another painful reminder of how minority shareholders can end up caught in between whenever the big boys slug it out.
The company's stock price has tumbled about 18 per cent ever since the war of words began in October last year and could continue to slide with no clear end to the ongoing bitter dispute.
In Nobel Design's case, its founder and former director Bert Choong has gone on the offensive against the board, possibly with the eventual aim of either regaining control or securing an exit for his 25 per cent stake. As he put it earlier this month: "Either they go, or I go."
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Bitcoin’s wild price swings point to the rising influence of ETF buyers
Paramount will let exclusive talks with Skydance lapse: NYT
Citi says European authorities are scrutinising 2022 flash crash
Tech platforms make pitch for ad deals as TikTok is roiled by politics
Expedia shares sink as vacation rental weakness fuels revenue forecast trim
Oil settles down on US jobs data, steepest weekly loss in three months