Ascent Bridge Limited Faces Major Changes

Ascent Bridge Limited (SG:AWG) has released an update.

Ascent Bridge Limited has announced a proposed placement of over 17 million new shares at S$0.14 each, with plans to apply for their listing on the SGX-ST Main Board. Concurrently, the company is facing a shake-up as MTBL Global Fund (In Official Liquidation) has issued a notice to remove current directors and appoint new ones, or potentially place the company under judicial management. The company is seeking legal counsel and will update shareholders as the situation develops.

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