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SINGAPORE – Singapore-listed Axington Inc announced just after midnight on Monday (Aug 31) the resignation of its non-independent non-executive chairman, Ms Evangeline Shen, and three other directors.
Ms Shen, also known as Shen Che, is the co-founder of Singapore-registered Bellagraph Nova (BN) Group that has drawn increasing scrutiny following news of its takeover bid for English Premier League club Newcastle United.
The three other board members that have quit are executive director Marjory Loh, lead independent director Chua Siong Kiat and non-independent non-executive director Wong Sun Yuh, Axington said in separate filings to the Singapore Exchange.
The reasons given for the spate of resignations range from impending changes in the company’s business to “intense public scrutiny” and “health reasons”.
The departures come a week after former United States ambassador to Singapore Kirk Wagar resigned as an independent director, citing the increasing controversy surrounding the BN Group, from photoshopping images with former US president Barack Obama to press statements that had to be retracted.
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