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

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.