Dispute over the additional share plan: Stamford Land claims HKD 1.88 million from UOB | Lianhe Zaobao
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Local listed company Stamford Land Corporation has filed a lawsuit against UOB, claiming SGD 1.88 million, accusing the bank of breaching its duties in its 2021 rights issue plan. Stamford Land raised SGD 238.9 million in the plan and paid UOB a service fee of SGD 150,000. The core of the lawsuit involves Rule 877(10) of the Singapore Exchange (SGX) Mainboard Listing Rules, which requires prioritizing the rights of minority shareholders. Some minority shareholders expressed dissatisfaction with the allocation plan, leading the SGX to initiate disciplinary proceedings
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