Cordlife announces new directors and changes in the board and committees

SINGAPORE - Cordlife Group said on Friday (Apr 29) that it has received letters from two shareholders to make nominations to the board.

Kunlum Investment Holding nominated Mr Wang Taiyang and Mr Hu Minglie, while China Cord Blood Corp nominated Albert Chen Bing Chuen, to be appointed as board directors.

Earlier this month, The Straits Times reported that two key shareholders of Cordlife Group called for a shareholders' meeting to appoint two new board members to the firm.

Bonvests Holdings and Tai Tak Estates - which collectively own 22.5 per cent of Cordlife - called for an extraordinary meeting on May 23 to appoint Mr Christopher Ho Han Siong and Mr Gary Xie Guojun as directors of the company.

Former chief executive Jeremy Yee had suddenly resigned in March.

Bonvests and Tai Tak had decided to seek board representation as they did not think it would be able to protect their interests sufficiently.

The nominating committee has reviewed the qualifications and experience of Mr Ho, Mr Xie, Mr Wang, Mr Hu and Mr Chen. It has recommended that they be appointed non-independent non-executive directors.

The board accepted the recommendation, and they have been appointed with effect from Friday (Apr 29).

Particulars of the new directors have been filed on the Singapore Exchange.

rachaelb@sph.com.sg