No Signboard CEO arrested and out on bail in share buyback probe
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Fiona Lam
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Singapore
SEAFOOD restaurant operator No Signboard Holdings said on Thursday morning that its chief executive officer Sam Lim Yong Sim was arrested on April 30 and released on bail. He has not been charged with any offence, it added.
The arrest was made on "reasonable suspicion" of breaches in the Securities and Futures Act, under Section 197 on false trading and market rigging transactions, as well as Section 218 on prohibited conduct by connected person in possession of inside information, said the company.
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