Cordlife Applies to Convert Ongoing Claim into Originating Claim; Shares Surge 19%

MT Newswires

01/14

Cordlife (SGX:P8A) made an application to the general division of the High Court of Singapore to convert an ongoing claim into an originating claim, and for the conversion application to be heard together with the substantive hearing of OA 1365.

The company also filed the necessary legal documents, which include a summons for conversion and an affidavit in response to the ongoing claim, according to a Wednesday filing with the Singapore Exchange.

Meanwhile, the claimant group is expected to file an affidavit in response to the company's conversion application by Feb. 3.

The claims are linked to alleged damage of cord blood units (CBUs) arising from the company's storage of these units.

Shares of the company surged nearly 19% in Wednesday trading.

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