PETALING JAYA: R&A Telecommunication Group Bhd is suing founder Francis Tan Hock Leong, Nexgram Holdings Bhd and five other parties for not withdrawing the notice of EGM dated December 22, 2017, which seeks the removal of three R&A director.
The suit filed at the High Court of Malaya was also against Mazru Mat Yusof, Helmi Faisal Fuad, Lim Siang Chai, Fu Lit Fung and Zaharin Ahmad Zamani.
Last month, Nexgram and Francis Tan Hock Leong made their second bid to remove R&A directors through an EGM set for January 23. This came after the Kuala Lumpur High Court declared the first EGM notice dated October 16, 2017 invalid.
The EGM notice sent by Nexgram and Tan is to remove Sim Keng Seong, Chua Soo Seong and Lim Tiong Jin. They will be replaced by Rajendra Raja S.Govindaraj, Cheang Soon Siang and Kamal Abdul Aziz.
Tan, who holds a 6.47% stake in R&A, stepped down from his position as executive director last December. Meanwhile, Nexgram owns a 6.83% equity interest in R&A.
On a separate note, R&A investor Soon Seng Hock is also seeking a declaration from the High Court of Malaya that the EGM notice as invalid, null, void and of no effect.
In addition, Soon requested for a declaration that Tan had between 2011 and 2015 carried out R&A affairs and exercised his powers as R&A director in a manner that is is oppressive, prejudicial and/or in disregard of the interests of R&A members.
A court’s ruling is also being sought that the resolutions to be passed issued by Tan and Nexgram is an unfair discrimination and is prejudicial to R&A members. R&A said the matter has been fixed for hearing next Monday at the Kuala Lumpur High Court.
Nexgram’s share price closed unchanged at 4 sen with some three million shares done.
Source: The Sun Daily