The sale took place via an off-market transaction.
Following the sale, Robust Plan, which formerly held a 5.47% stake in Cordlife, now owns a 3.67% stake in the latter.
Cordlife, on Jan 23, announced that the Ministry of Health (MOH) found several process lapses at the company. These includes the company’s temperature monitoring system failing to send notifications of the temperature excursions in certain tanks to Cordlife’s personnel between February and June 2022 as well as the failure to carry out Cordlife’s six-month preventative maintenance for two tanks in 2022.
Shares in Cordlife closed flat at 30.5 cents on Jan 26.
