Noble to hold AGM on April 14 in Singapore

COMMODITIES trader Noble Group will be holding its 2016 annual general meeting (AGM) in Singapore on April 14, 10am.

The proposed resolutions include the re-election of founder and chairman, Richard Elman, and vice-chairman, David Eldon.

It is also seeking shareholders' approval for the payment of US$770,000 in directors' fees for the financial year ended Dec 31, 2015, as well as the re-appointment of Ernst & Young as the company's auditors.

Authority is also sought for share buyback and the issue of ordinary Noble shares of HK$0.25 each by way of rights, bonus or otherwise at any time they deem fit, among others.

On Monday, a Hong Kong court rejected a bid by Noble for summary judgement against a credit analyst and his firm - said to have published the controversial Iceberg reports on Noble.

According to The Straits Times, the court found that French national Arnaud Vagner, who worked for Noble for over two years until June 2013, was justified in answering queries from Noble "the way he did". The queries were made in legal preliminaries in the run-up to the suit against him.

Noble is seeking damages from Mr Vagner and his Seychelles-based Enlighten Ace on two counts of conspiracy to injure.

The AGM will be held at Summit 1, Level 3, Suntec Singapore International Convention & Exhibition Centre, 1 Raffles Boulevard, Suntec City, Singapore.