IP Injunction withdrawn but No Signboard to pay $6,500 to GuGong: High Court
GuGong will receive $6,500 from No SignBoard with reasonable disbursements.
No Signboard said GuGong was granted leave by Singapore’s High Court to withdraw the IP injunction application.
In a statement posted on SGX, No Signboard said it was ordered by the High Court to pay GuGong $6,500 with reasonable disbursements.
“With regards to the Arbitration proceedings, the Board is currently seeking legal advice and will inform Shareholders when there are material updates,” read the statement.
Shares have been suspended from trading since 2022, with shareholders and prospects advised to read the announcement and other future announcements by No Signboard.
“Shareholders and potential investors are advised to refrain from taking any action with respect to their securities in the Company which may be prejudicial to their interests, and to exercise caution when dealing in the securities of the Company,” said No Signboard.
“Shareholders and potential investors should consult their stockbrokers, bank managers, solicitors or other professional advisers if they have any doubt about the action they should take,” it added.