Biolidics Ltd. (SG:8YY) has released an update.
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Biolidics Ltd. has announced plans to issue new shares to Chen Lu, representing 4.5% of the company, subject to shareholder and regulatory approvals. The issuance of these ‘Sign-On Shares’ follows a supplementary agreement and is contingent on Chen Lu receiving an Employment Pass from Singapore’s Ministry of Manpower, which has been preliminarily approved until October 2024. The company will provide updates on this corporate move, which includes Chen Lu’s potential appointment as an executive director.
For further insights into SG:8YY stock, check out TipRanks’ Stock Analysis page.