KUALA LUMPUR (June 4): Metronic Global Bhd shareholders claiming to hold at least 10% of the group’s shareholdings, are calling for an extraordinary general meeting (EGM) to replace its board of directors.

In a bourse filing, shareholders Lagenda Perdana Sdn Bhd and Ng Wai Yuan have called for the EGM to be held in order to appoint Loh Chye Teik, Seah Soo Chang, Kok Chee Hong and Choo Chung Tiong as directors.

The EGM will also decide on proposals to remove Hoo Wai Keong, Datuk Kua Khai Shyuan, and Khor Ben Jin as directors of the group.

The shareholders aim to hold the EGM on July 1, 2019, to carry out their resolutions.

“The company is seeking legal advice on the matter and further announcements will be made on the development thereof, accordingly.”

On May 9, the group announced it was taking action against a group of shareholders that hold 39% of the group, with Lagenda Perdana and Ng named as defendants.

Lagenda Perdana and Ng are part of 11-person strong list of defendants that the group is taking legal action against, alleging the shareholders had conspired to injure — having blackmailed the company for RM20 million, and to withdraw a police report against Tan Ew Chew.

The group also claimed these shareholders failed to undertake a mandatory general offer, after they had gained control of the company.

The counter closed 6.67% or half a sen lower to seven sen today, with 5.65 million shares traded, giving it a market capitalisation of RM72.20 million.