Faizal provided a few advances to Tadmax since 2010.
PETALING JAYA: Tadmax Resources Bhd has proposed a debt settlement of around RM36.78mil owed to its managing director and group chief executive officer Datuk Faizal Abdullah via the issuance of up to 72 million settlement shares, which would raise the latter’s stake in the company by around 20%.
Faizal, who had provided a few advances to Tadmax since 2010, currently owns around 4.8% or 17.8 million shares in the company.
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