Due to the company’s improper handling of cord blood units, Cordlife is currently in the process of undergoing a board shakeup.
Cordlife announced on March 20 that it would continue its trading block after the trading halted on March 14.
In a bourse filing on Thursday ( Mar 21 ), Cordlife  reported that it had received a request to hold an extraordinary general meeting ( EGM ) request from Phillip Securities as a nominee for one shareholder, Nanjing Xinjiekou Department Store Co.
On March 18, TransGlobal Real Estate Group sent it a minute request see.
Demand Finds
One solution in the first notice requested that Mr. Joseph Wong Wai Leung, the original company chairman, be removed as a chairman of the company. The other resolution included seven resolutions.
According to “personal home and health factors,” the company announced on February 29 that Mr. Wong will step down as chairman of the board and president of the assessment and risk commission.
Additionally, Phillip Securities demanded the resignation of ARC Titus Jim Cheong Tuck Yan, separate director Yeo Hwee Tiong, and acting chairman of the board Ho Choon Hou.
Dr. Teo Tong Kooi,  , Dr Xu Tianhong, and a Cai Yong were required to be appointed as managers of the business in the remaining three proposals.
TransGlobal requested the dismissal of the proposals by Phillip Securities in its request notice on March 18.
Additionally, it urged the resignation of Mr. Zhai Lingyun and Ms. Shally Chen as firm executives.
Cordlife stated that it is taking both notices and seeking legitimate counsel, and that it will also produce additional announcements on the Singapore Exchange “in expected sure.”
It further stated that the stock will keep halted until Thursday, pending” the preparation and finalization of an statement that will be released differently.”