KUALA LUMPUR (June 8): Ire-Tex Corp Bhd has received a special notice from its largest shareholder Elite Cosmo Group Ltd, who is acting together with another shareholder Tan Yeang Tze to remove four directors from the company.
 
In a notice filed with Bursa Malaysia today, the Singapore-based shareholder is seeking for Ire-Tex to convene an extraordinary general meeting for the purpose of passing ordinary resolutions to remove Datuk Seri Mohd Shariff Omar, Felix Chin Wui Choong, Ahmad Amrynn Abdul Malek and Mak Lin Kum as directors, with immediate effect.
 
Elite Cosmo is also seeking to appoint Hamdan Mohd Nor and Raja Hizad Raja Kamarulzaman as directors, with immediate effect.
 
Elite Cosmo and Tan said if an EGM is not called by Ire-Tex within the stipulated timeframe, they will then proceed to convene an EGM on their own, to pass the resolutions.
 
The development today indicates the boardroom tussle at the Penang-based corrugated packaging services provider is far from over.
 
Yesterday, the group announced the High Court had declared its recent EGM held on April 27, as null and void. During the April EGM, Elite Cosmo had sought to oust the same four directors and appoint Hamdan and Raja Hizad.
 
Following its EGM in April, Ire-Tex had issued two different outcomes of the meeting to Bursa Malaysia.
 
Ire-Tex shares were not traded today. They closed yesterday at 20 sen, for a market capitalisation of RM27.6 million.