The EKA-brand rice vermicelli products made by EKA Noodles Bhd's unit Kilang Bihun Bersatu Sdn Bhd in Kuala Ketil, Kedah. (Pic taken by Hafidz Mahpar for Star Online)
KUALA LUMPUR: EKA Noodles Bhd has called off the proposed Feb 6 EGM requested by three shareholders who earlier sought to remove its entire board of directors except for group managing director Datuk Seri Chin Seak Huat.
The rice and sago vermicelli (bee hoon) trader told Bursa Malaysia on Tuesday that it had received a letter from law firm ZaidIbrahim & Co, which represents the requisitionists (Law Chong Kai, Fong Yit Meng and Vibrant Class Sdn Bhd), saying that they were withdrawing the special notice and notice of EGM with immediate effect.
“Therefore, the EGM has been called off and the proposed resolutions mentioned in the notice of EGM of the requistionists are also withdrawn,” said EKA Noodles.
Following the latest development, the company said its board of directors would “evaluate the necessity, feasibility and compliance of the EGM to be convened by the company at 9.00am on Feb 6.”
Vibrant Class - which in December emerged as the company’s second largest shareholder with an 8.97% stake - and the other two requisitionists had in December last year sought an EGM to remove EKA chairman Datuk Sohaimi Shahadan, executive director Ahmad Zaffry Sulaiman, director Yee Yit Yang and director Raja Nazrin Raja Ghazilla as well as any other person appointed director following the company’s last AGM in May 2016.
Khairilanuar Tun Abdul Rahman, who is a major shareholder of EKA Noodles through Vibrant Class, was proposed for the chairman post.
No reason was given in requesting for the removal of directors and the latest announcement to the bourse also offered no reason for cancelling the EGM.
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