Two Seacera shareholders with 2.5% stake seek to block appointment of new directors

KUALA LUMPUR (Nov 11): Two Seacera Group Bhd shareholders are seeking to block the appointment of six new directors at an extraordinary general meeting (EGM) scheduled for early next month.

Seacera told Bursa Malaysia that it received a notice from AEV Engineering & Trading Sdn Bhd and Fantastic Fortress Sdn Bhd, who claimed to hold at least 2.5% of the company’s paid up capital, seeking to invalidate the appointment of any new person to the board, apart from nine existing directors, at the EGM to be held on Dec 3.

The nine individuals are: chairman Datuk Nik Ismail Nik Yusoff, executive director Mazlan Mohamad, and senior independent non-executive director Mejar Datuk Ismail Ahmad, besides independent non-executive directors Mohd Zahari Wan Embong, Koo Yien Koon, Zulqarnain Lukman, Zamri Mohd Ramli, Ishak Ismail, and Saharom Mohd Adas.

"If any person (other than a person named in Resolutions 1, 2, 3, 4, 6, 8, 10, 12, and 14 in the Notice of EGM dated Oct 16, 2019) is appointed as a director of the company at any time from Nov 5, 2019, up to and including the time of the conclusion of the EGM (including any adjournment thereof), the appointment of such person shall be invalid and each such shall and/or is hereby removed from office as director of the company, with immediate effect," the notice read.

Seacera said it will seek legal advice on the matter and announce any material development accordingly.

Several shareholders of Seacera have been demanding an EGM over the past several months.

Seacera’s then managing director Zulkarnin Ariffin quit at end-May, a day after the High Court dismissed its injunction application to restrain an EGM called for by then single-largest shareholder Wei Lian. Wei Lian, also Tiger Synergy Bhd executive chairman, had called for the EGM to appoint new directors and remove existing ones.

In June, the company sought to nullify an EGM requisition by Ng and two other shareholders, Lim Seow Chin and Ooi Chieng Sim.

Then on Oct 17, six Seacera shareholders — JS Portfolio Sdn Bhd, Mak Hon Leong, Ng, Ong, Sek and Low Swee Foong, claiming to collectively hold at least 10% of the group’s share capital — sought for the EGM to be held on Dec 3, to consider appointing six new directors and removing nine existing ones.

Last Tuesday (Nov 5), four shareholders of Seacera Group Bhd — Ng Wai Yuan, Datin Sek Chian Nee, Low Swee Foong and Datuk Tan Wei Lian —– issued a notice of resolutions to be moved at the group’s 34th annual general meeting (AGM) on Nov 29, which entailed the nomination of six new directors to the board.

The six nominated directors were Rivzi Abdul Halim, Datin Ida Suzaini Abdullah, Marzuki Hussain, Tan Lee Chin, Ong Eng Taik and Ramnath R Sundaram.

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