KUALA LUMPUR (June 25): Seacera Group Bhd is suing three individuals, who recently sent a special notice to the company to requisition for another extraordinary general meeting by claiming that they held 10% of its shares.
The three are Lim Seow Chin, Ng Wai Yuan and Ooi Chieng Sim, according to Seacera's stock exchange filing yesterday. The trio had requisitioned for the EGM via a letter dated May 31, 2019, to appoint seven new directors and remove 11 existing ones.
"Via the requisition, Ooi Chieng Sim, Ng Wai Yuan and Lim Seow Chin claimed that they held collectively 10% of the total issued capital of the company. The company had verified their shareholdings and they were not members holding 10% of the company," Seacera said.
In addition, Seacera said it had received a letter on June 4, purportedly signed by Ng, claiming she had never signed the requisition.
Hence, the company is seeking, via the suit filed to the Kuala Lumpur High Court, a declaration that the EGM requisition is null and void, as well as damages from the trio.
The tile manufacturer, which has been in the spotlight of late following a series of boardroom disputes, fell into Practice Note 17 status in April after defaulting on a loan repayment, and failing to provide a solvency declaration to Bursa Malaysia.
Its managing director, Zulkarnin Ariffin, quit the company in end-May, citing personal reasons, a day after the company said the High Court here had dismissed its injunction application to restrain an EGM called for by its then single, largest shareholder, Datuk Tan Wei Lian, who is also Tiger Synergy Bhd's executive chairman. The EGM that Wei Lian called for at the time was also to appoint new directors and remove existing ones.
Incidentally, one of the directors that Lim, Ng and Ooi sought to appoint via the new EGM they purportedly requisitioned was Tan Lee Chin, reportedly Wei Lian's sister.
However, according to the group's June 3 filing, Wei Lian, who held 16.36% in the company as at April 18, has ceased to be its substantial shareholder on May 23, following a disposal of shares.