SINGAPORE (Oct 1): LionGold Corp, one of the three companies at the centre of the 2013 penny stock crash saga, is now under the control of new shareholders.

At a special general meeting on Sept 30, shareholders approved a series of resolutions, including the issuance of 23 billion new shares at 0.1 cent each to two investors from China: Yao Liang and Yao Yuan.

They hold 51% and 49% respectively in an entity called Yaoo Capital, which is used to invest in LionGold. With the investment of S$23 million, they now own more than 72% of the enlarged share capital of LionGold.

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