Axington holding EGM on Thursday amid increased scrutiny; company linked to BN Group in Newcastle bid

Trading halted after drop in share price; no word on chairman linked to Newcastle United bid

Above: Ms Evangeline Shen is Axington's non-independent non-executive chairman, while cousins Terence Loh (left) and Nelson Loh are controlling shareholders. Right top: Axington Singapore is said to have rented a small space in the same unit as an un
Ms Evangeline Shen is Axington’s non-independent non-executive chairman, while cousins Terence Loh (left) and Nelson Loh are controlling shareholders.
PHOTO: BELLAGRAPH NOVA GROUP
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Axington Inc is heading into an extraordinary general meeting (EGM) today without word on the status of Ms Evangeline Shen, also known as Shen Che, its non-independent non-executive chairman, who is linked to a reported £280 million ($505 million) offer to buy Newcastle United football club.

On Monday, Singapore Exchange Regulation (SGX RegCo), the regulatory arm of the Singapore Exchange, recommended an investigation into the suitability of the board of directors of Catalist-listed Axington.

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A version of this article appeared in the print edition of The Straits Times on August 27, 2020, with the headline Axington holding EGM on Thursday amid increased scrutiny. Subscribe