Authorities are targeting Move Digital’s 99.56% stake in Big Pay and an 11.45% interest in Teleport Everywhere. This enforcement action stems from a partial arbitration ruling that mandates Move Digital to acquire shares held by Christopher Davison and Navin Rajagopalan for US$14.74 million. The order also includes a smaller claim for unpaid interest totaling 541.20 Singapore dollars.
In section Market Quotes
Singapore Court Moves to Seize Capital A Subsidiary Assets
The Sheriff of the Supreme Court of Singapore has initiated a seizure notice against Move Digital, a subsidiary of Capital A, to enforce a long-standing arbitration award. The move targets the company's holdings in two major business units following a protracted shareholder dispute involving multi-million dollar buyouts.
Capital A has publicly signaled its intent to contest the seizure and the potential forced sale of these assets. The company maintains that it possesses legitimate legal grounds to block the process and is preparing a formal written objection. Investors reacted sharply to the news, pushing Capital A shares down 3.6% to 0.40 ringgit during Wednesday morning trading.
Comments (0)
No comments yet. Be the first!