KUALA LUMPUR: An EGM called by Tiger Synergy Bhd’s board of directors that was scheduled to be held today has been declared invalid by the Kuala Lumpur High Court.
The Court yesterday also ruled that any adjournment of the special shareholders’ meeting, if convened, would be invalid and void.
“The company is seeking legal advice in respect of the said decision and the company will make further announcement on the development of the above matter as and when necessary, ” Tiger Synergy said in filing with Bursa Malaysia.
Earlier this week, it was reported that Safari Alliance Sdn Bhd (SASB), a substantial shareholder of Tiger Synergy, had filed a suit seeking to invalidate the EGM.
SASB claimed that the call for the Feb 20 EGM was issued by the current TSB board of directors after SASB had exercised its independent statutory rights as a substantial shareholder to convene an EGM on March 2,2020.
SASB had called for an EGM to replace the current directors of Tiger Synergy.