R&A founder, Nexgram call for EGM to remove 4 directors, appoint 3 new ones

PETALING JAYA: R&A Telecommunication Group Bhd, a Guidance Note 3 (GN 3) company, has received written requisitions from Nexgram Holdings Bhd and Francis Tan Hock Leong to convene an EGM for the removal and appointment of directors.

According to the written requisitions filed with Bursa Malaysia yesterday, the two shareholders, with combined shareholdings of not less than one-tenth of the paid-up capital of the company, are seeking to remove four directors and appoint three directors.

Tan is R&A’s founder and he stepped down from his position as executive director last December. Tan and Nexgram hold 7.93% and 6.83% equity interest in R&A respectively.

The directors whom they seek to remove with immediate effect are Sim Keng Siong, Chua Soo Seong, Lim Tiong Jin and Selva Rasan Datuk Puspa Das while the three directors to be appointed are Rajendra Raja S. Govindaraj, Cheang Soon Siang and Kamal Abdul Aziz.

The special notice requires R&A to call for an EGM between the time provided for in the Companies Act and/or give notice of the same to all shareholders within 14 days.

In the event that the above is not done within the stipulated time, Nexgram and Tan will proceed to convene a meeting for the purpose of considering and, if thought fit, to pass the resolutions.

R&A returned to the black for the three months ended June 30, 2017, registering a net profit of RM1.07 million against a net loss of RM583,000 in the same period a year ago.

Its regularisation plan is pending the approval of Bursa Malaysia.