No Signboard appoints Lim Teck-Ean as interim CEO while Sam Lim faces price-rigging charges  

RESTAURANT operator No Signboard Holdings’ board has appointed Lim Teck-Ean as interim chief executive officer to oversee the group’s strategic direction, corporate development and investor relations. 

The current executive chairman and chief executive, Sam Lim, faces charges of share price rigging under the Securities and Futures Act. If convicted, he may be jailed for up to seven years or fined up to S$250,000, or both.

On Tuesday (Oct 10), No Signboard said: “The board of directors reviewed and considered Lim Teck-Ean’s qualifications, working experience, capabilities and ability to contribute to the company and other relevant factors.” 

Lim Teck-Ean will also be designated executive director of the company. Prior to his appointment, the 48-year-old was one of the beneficial owners of Gazelle Ventures, an entity which had invested in No Signboard.

Gazelle is expected to hold 75 per cent shareholding interest in the enlarged share capital of No Signboard upon completion of the investment. Lim has since stepped down as CEO of Gazelle. 

Meanwhile, No Signboard said Sam Lim is on a leave of absence pending the resolution of the proceedings related to the charges against him.