Cordlife Group

[boonsong]

https://links.sgx.com/FileOpen/CGL%20-%2...eID=800986

I extracted the following from the doc : (bold added)

"8. As stated in the Company’s replies to SGX’s queries (announced on 10 December 2023), “certain members of the management team” were alerted by a Company employee in June 2022 that one of its cryogenic storage tanks had been exposed to irregular temperatures for several days in June 2022 (“Incident”). 

9. The members of the management team that were alerted to the incident were laboratory and management staff dealing with the day-to-day operations of the Company. As it pertained to an operational matter, the management team did not notify the Board of Directors."

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I wonder if there is a company SOP specifying what matters need to be escalated to BOD. For such in-depth operational issues of the company, it isn't likely that OPMI is able to assess this type of risk.

Perhaps there is merit in Annual Reports adapting the Risk section of 10-K filing :
https://www.sec.gov/answers/reada10k.htm
"Item 1A - “Risk Factors” includes information about the most significant risks that apply to the company or to its securities. Companies generally list the risk factors in order of their importance. In practice, this section focuses on the risks themselves, not how the company addresses those risks. Some risks may be true for the entire economy, some may apply only to the company’s industry sector or geographic region, and some may be unique to the company."

right now, the management, the board, and even NJXJK could say anything.
but I think now the matter have affected and indulged enough members of the public ... and the CAD and Home Team would do their best and provide us clarity in the end.

[boonsong]

@boonsong,
Trying to save some money on the CEO search? I hope it is just a front for something else because if it isn't, it reflects much worst on the company as a whole. Penny foolish or pound foolish?

@dreamybear,
Putting in "risk factors" making 1st time reading, is a god-send. But if one has been reading the past 10 years of AR showing the same stuff, it becomes quite pointless. Understanding risk and avoiding it altogether are different things. We try to focus on the later to minimize risk.

that and the private placement... I do not have much love for the current board.