KUALA LUMPUR: HHRG Bhd
's shareholder, Digital Trustees Bhd, has called for the removal of the company's board of directors and the appointment of three new members to the board.
In a filing with Bursa Malaysia, the biomass material manufacturer said it had received a written requisition from Digital Trustees to convene an extraordinary general meeting to pass resolutions that would see five directors on the board, including executive deputy board chairman Datuk Paduka Ammar Shaikh Mahmood Naim, removed from their roles.
A further three resolutions, if passed, would see the appointment of Zam Azri B Mohamed Zam Zamil, Mazlan Hj Ahmad and Low Xhu Hern as new directors on the board.
On March 11, 2025, HHRG's largest shareholder Cfamillie Holdings Sdn Bhd disposed of its entire 17.77% stake in the company in an off-market deal for 0.5 sen a share, representing a 94.5% discount from the share's same-day closing price of nine sen a share.
With 154.3 million shares sold, the sale netted Cfamillie a total of RM771,450.
Trading in the shares of HHRG was halted until 10am on Monday due to the announcement. As at 10.52am, the share is trading at 10 sen a share, a one sen increase over its reference price, after 2.76 million shares done.
