KUALA LUMPUR (Aug 21): The High Court has granted an injunction to stop Ire-tex Corp Bhd from holding an extraordinary general meeting (EGM) tomorrow, that was called for to appoint new directors.
 
The injunction against the company was obtained by shareholders Elite Cosmo Group Ltd and Tan Yeang Tze.
 
The EGM will be vacated, pending the disposal of an injunction application by Ire-tex in June, the company said in a filing with Bursa Malaysia today.

This injunction against several shareholders is being sought by the company, in an attempt to prevent the shareholders from exercising their voting rights.

Ire-tex called for tomorrow’s EGM at the request of two shareholders, K.O. Limited Partnership Sdn Bhd and Ng Kok Yong.

The resolutions that were scheduled to be tabled were for the appointments of Saharun Nizam Saharan, Mohd Fahami Mohamed, Mahyudin Zaina and Chin Peng Wai as additional directors of the company.

Saharun Nizam, who signed the requisition on behalf of K.O. Limited Partnership, had also been appointed as Ire-tex’s chief executive officer on Aug 7.   

Meanwhile, another EGM called for by Elite Cosmo and Tan that is scheduled to be held on Friday, looks set to proceed.

This EGM seeks the removal of the company’s chairman Datuk Seri Mohd Shariff Omar, executive director Chin Wui Choong and directors Mak Lin Kum and Ahmad Amryn Abd Malek, and the appointment of Hamdan Mohd Nor and Raja Hizad Raja Kamarulzaman as new directors.
  
(Note: Earlier versions of this article wrongly stated that Ire-tex had obtained an injunction against Elite Cosmo and Tan to stop the holding of the EGM called for by the shareholders. In fact, the Aug 25 EGM called for by Elite Como and Tan has not been restrained by any injunction. We regret the error).