Business Standard

Singapore court blocks Noble Group from holding shareholders meeting on Monday: lawyer


SINGAPORE (Reuters) - A Singapore court blocked Noble Group Ltd from holding its annual general meeting (AGM) of shareholders on Monday, in response to legal action taken by dissident shareholder, Goldilocks Investment Co. Ltd.
"The judge decided that Noble be restrained from proceeding with the AGM currently fixed for April 30," Suresh Nair, Singapore counsel representing Goldilocks, told Reuters on Friday.
The move is a blow to Singapore-listed Noble, which is in the midst of a crucial debt restructuring process. Noble officials were not immediately available to comment.
The Singapore High Court could not immediately confirm the ruling.
Abu Dhabi-based Goldilocks, which has an 8.1 percent stake in Noble, filed lawsuits in Singapore this week, saying Noble is not recognising its "legitimate legal rights" as a shareholder and asked the Singapore High Court to block Noble's shareholders' meeting.
Noble says Goldilocks' claims are without merit.
Noble asked on Friday for trading in its shares to be halted pending an announcement.
(Reporting by Anshuman Daga; Additional reporting by Aradhana Aravindan; Editing by Christian Schmollinger)

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First Published: Apr 27 2018 | 12:07 PM IST

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