PETALING JAYA: The requisition by 10 of Kumpulan Jetson Bhd
’s minority shareholders to convene an EGM to remove six of the company’s board of directors has been deemed invalid.
In a filing with Bursa Malaysia, Jetson said that pursuant to Section 311(3) (a) of the Companies Act 2016, the 10 minority shareholders convening the EGM would need to have 10% of the company’s paid-up capital to carry the right of voting at meetings.
However, as at Dec 8, 2023 (being the date of the requisition notice), Jetson said the minority shareholders collectively held 25,324,384 or only 9.45% of the company’s shares.
“The aggregate shareholdings of the requisitionists in the company did not represent at least 10% of the total number of Jetson shares as at Dec 8, 2023 (being the date the notice was deposited with the company). As such, the notice has not complied with the requirements of Section 311(3) (a) of the Act.”
Jetson said the number of shares held by certain requisitionists, namely, Lee Yee Wee, Shaun Sai Wen Fei, Teo Chor Eng, Tey Giap Leong and Muhd Alamin Ramli, as at Dec 8, was wrongly stated in the notice.
It added that Jason Ching Chou-Yi did not hold any Jetson Shares as at Dec 8 and hence was not a member of the company.
