THE battle for control of QSR Brands Bhd continues as Kulim (M) Bhd’s votes at an EGM held on Sept 20 were disregarded and the nine directors, who were thought to have been ousted last month, will remain on the board of QSR. The Sept 20 EGM had been adjourned and it was reconvened yesterday.
The decision yesterday not to include Kulim’s votes, according to QSR deputy chairman Umar Abdul Hamid, was made after the company sought opinions from three law firms on the issue. Kulim owned a 29.9% stake in QSR as at Sept 20 and since early this week, the stake has been raised to 51%, including a 12% block of shares that is under dispute.
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