Cordlife Group (SG:P8A) has released an update.
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Cordlife Group Limited has announced that its board member Mr. Zhai Lingyun was arrested and released on bail in connection with an investigation into potential disclosure breaches related to irregular temperatures in a cryogenic storage tank. Despite the arrest, the board, with Mr. Zhai recusing himself, believes his continued involvement is in the company’s best interest and is seeking additional independent directors to address governance and risk management. The company has committed to full cooperation with regulatory authorities and assures shareholders and customers that operations will continue unaffected.
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