R&A investor wants EGM notice declared invalid

January 13, 2018 | By | Reply More

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PETALING JAYA: R&A Telecommunication Group Bhd has received an originating summons filed by investor Soon Seng Hock to declare a notice of EGM to remove directors in the company as invalid.

Last month, Nexgram Holdings Bhd and Francis Tan Hock Leong made their second bid to remove R&A directors through an EGM set for Jan 23. This came after the Kuala Lumpur High Court declared the first EGM notice invalid in November.

Following that, Soon is seeking a declaration from the High Court in Kuala Lumpur that the EGM notice dated Dec 22 as invalid, null, void and of no effect.

In addition, Soon requested a declaration that Tan had in 2011 to 2015 carried out R&A affairs and exercised his powers as R&A director in a manner that was oppressive, prejudicial and/or in disregard of the interests of R&A members.

A court ruling is also being sought that the resolutions to be passed issued by Tan and Nexgram is an unfair discrimination and is prejudicial to R&A members.  

R&A said the mattr has been fixed for hearing on Monday at the Kuala Lumpur High Court.

The EGM notice sent by Tan and Nexgram is to remove Sim Keng Seong, Chua Soo Seong and Lim Tiong Jin. They will be replaced by Rajendra Raja S.Govindaraj, Cheang Soon Siang and Kamal Abdul Aziz.

Tan is R&A’s founder with a 6.47% stake. He stepped down from his position as executive director last December. Meanwhile, Nexgram owns a 6.83% equity interest in R&A.

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