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Remaining potential investors in LionGold withdraw following CAD probe

Published on Jun 24, 2014 10:21 PM

SINGAPORE - The four remaining potential investors who had indicated they would buy into LionGold Corp have pulled out in light of the ongoing investigation into the firm by Commercial Affairs Department (CAD), the company said in a statement on Tuesday.

Mr Ong King Kok, Ms Yap Sooi Kuan, Mr Lee Yee Pin and Mr Poh Chong Peng have decided to withdraw from a share subscription agreement with LionGold, it added.

The investors had planned to each subscribe for 7.5 million shares for $1 million.

The board reiterated its stance that it is not aware if any offence has been committed.

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