Core Viewpoint - Cyclacel Pharmaceuticals has undergone a significant change in control and leadership, with Datuk Dr. Doris Wong Sing Ee acquiring a controlling stake and being appointed as the new CEO [1][5]. Company Control and Leadership Change - Datuk Dr. Doris Wong Sing Ee purchased 1,000,000 shares of Series C Convertible Preferred Stock and 1,745,262 shares of Series D Convertible Preferred Stock, resulting in her owning 70% of Cyclacel's issued shares [2][4]. - The total consideration for the acquisition was 800,000 cash brokerage fee and a holdback amount of $100,000 [3]. - Following the acquisition, Datuk Dr. Doris Wong Sing Ee was elected as CEO, and Kiu Cu Seng was appointed as CFO [5][7]. Resignations and Board Changes - David Lazar resigned as interim CEO and secretary, and several other directors also resigned, including Dr. Samuel L. Barker and Paul McBarron [5][6]. - Chong Kwang Fock was appointed as an Independent Director to the Board [7]. Background of New Leadership - Datuk Dr. Doris Wong Sing Ee has over 20 years of management experience across various industries, including oil and gas and property development, and has held executive roles in multiple companies [8][10]. - Kiu Cu Seng has significant accounting and audit experience, having served as CFO for Energem Corp and worked with various publicly listed companies [11]. - Chong Kwang Fock is a Chartered Accountant with nearly 20 years of experience in auditing and has served as an Independent Director for Energem Corp [12][13]. Company Overview - Cyclacel Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing innovative cancer medicines based on cell cycle and transcriptional regulation [15][16].
Cyclacel Pharmaceuticals Announces Closing of a Change of Control Transaction and Appointment of New Executive Leadership