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No Signboard interim CEO’s stake in white knight raises conflict-of-interest risk

January Acra filing shows Lim Teck-Ean owns 50% of Gazelle Capital, which in turn owns half of white knight Gazelle Ventures

Uma Devi

Uma Devi

Published Fri, Feb 16, 2024 · 05:00 AM
    • An Acra filing dated Jan 16 indicated that No Signboard's interim chief executive Lim Teck-Ean owns two million shares in Gazelle Capital, translating to a 50 per cent stake in the entity’s share capital of four million shares.
    • An Acra filing dated Jan 16 indicated that No Signboard's interim chief executive Lim Teck-Ean owns two million shares in Gazelle Capital, translating to a 50 per cent stake in the entity’s share capital of four million shares. PHOTO: NO SIGNBOARD

    BELEAGUERED No Signboard could run the risk of a potential conflict of interest, as interim chief executive Lim Teck-Ean is also a substantial shareholder in white knight investor Gazelle Ventures, a source with knowledge of the restaurant operator’s corporate affairs told The Business Times.

    Gazelle Ventures has offered investments into No Signboard, as well as support for its acquisitions and the stock’s resumption of trading.

    According to a Jan 15 filing from the Accounting and Corporate Regulatory Authority (Acra), Lim is a director of Gazelle Ventures, having been appointed on Sep 27, 2012. He had stepped down as its chief executive when he assumed the role of head honcho at No Signboard. 

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