Dasin Retail Trust (SG:CEDU) has released an update.
Dasin Retail Trust’s Board has been informed by their Acting CEO, Mr. Wang Peng, that he received legal letters challenging his authority and actions from a legal adviser representing Mr. Zhang Zhongming. These letters allege that the Board’s resolutions, including the appointment of Mr. Wang and the termination of certain management agreements, are not recognized and have negatively impacted the Trust. The dispute arises following a controversial extraordinary general meeting that purportedly dismissed the Trustee-Manager’s role in managing the Trust’s affairs.
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