EuroSports Global's Chairman-CEO Charged With Securities Market Offenses; Shares Down 8%

MT Newswires

08/06

A court in Singapore has charged EuroSports Global (SGX:5G1) Executive Chairman and CEO Goh Kim San for multiple offenses under the Securities and Futures Act, according to a Tuesday filing with the Singapore Exchange.

Shares of the company were down over 8% in recent trading.

Goh is facing five charges for allegedly engaging in conduct that created a false or misleading appearance of active trading in the company's shares.

He is also facing six charges for allegedly aiding and abetting two individuals in a "deception" related to the purchase and sale of the company's shares, and eight charges for allegedly failing to notify the company of changes in his shareholding interest while being CEO.

Goh is currently on bail and is seeking legal advice over the matter.

Despite the charges, the company's board and nominating committee have determined that Goh remains "suitable" to continue as executive chairman and CEO.

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