KUALA LUMPUR (April 6): Guidance Note 3 company Wintoni Group Bhd’s chief financial officer (CFO) Lam Kong Chin, and three of its independent and non-executive directors Suaran Singh Himat Singh, Haflil Feiruz Muhammad Feisol and Datuk Muzaffirah Yurhaningseh Mazputri Tun Datuk Sri Ahmad Fairuz have resigned, citing personal reasons.

In a filing to Bursa Malaysia today, Wintoni said Lam’s resignation was effective March 31, while the three directors' resignations were effective April 1.

Lam has been the CFO of Wintoni since Oct 2013, when the company was known as Winsun Technologies Bhd. Meanwhile, Suaran, Haflil and Muzaffirah were appointed to the board of Wintoni on Sept 10 last year.

All four resignation letters were received on April 4 (Monday).

Wintoni, a business solution provider and designer of automation systems, has been in the news of late.

Ten minority shareholders of the ACE Market-listed company requisitioned an extraordinary general meeting (EGM) in September last year to remove the group's board of directors, including executive director Datuk Tey Por Yee.

However, the entire board resigned one day before the EGM. It told Bursa Malaysia then that the meeting's chairman declared the resolutions to remove the directors as academic.

The company had also failed to submit its third quarter ended Sept 30, 2015 (3QFY15) financial results on time, due to a loss of data, following a break in to its office. Wintoni then submitted its 3QFY15 results to the stock exchange on Feb 26 this year.

However, Wintoni triggered the GN3 company criteria when the shareholders’ equity of the company on a consolidated basis, was less than 25% of its issued and paid-up capital, based on its 3QFY15 results.

Prior to that, its largest shareholder Yap Kok Weng had in December last year, disposed of 82.32 million shares in the company, representing a substantial 16.1% stake.

As a result of its tardiness in submitting its 3QFY15 results, Wintoni’s shares were suspended since Dec 8 last year, and only resumed trading when it submitted its accounts on Feb 26.

Its share price was up 0.5 sen (16.67%) today at 3.5 sen, for a market capitalisation of RM17.96 million.