Datapulse substantial shareholders call EGM to seek removal of directors

Hard disks are pictured inside a server room at a company in Bangkok
Picture for representation Reuters

Datapulse Technology, a maker of media storage products, on Thursday said it had received a requisition notice to convene an extraordinary general meeting (EGM) to sack four directors on its board, among other things.

The notice was put forward by company's shareholders Uniseraya Holdings Pte and Ng Bie Tjin - who own a combined stake of about 16 percent, the company said in a statement.

The notice requests removal of Non-Executive Chairman Low Beng Tin and three other directors, namely Thomas Ng Der Sian, Rainer Teo Jia Kai and Kee Swee Ann with effect from the date of the EGM.

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The requisition notice also requests appointment of Ng Boon Yew, Loo Cheng Guan, Ng Bie Tjin @ Djuniarti Intan and Koh Wee Seng as directors of the company with effect from the date of the EGM.

The requestion also states that the company shall not carry out any diversification beyond its businesses as at December 10, until a complete feasibility study of any proposed diversification has been carried out.

According to the notice filed on December 26, the EGM must be held "as soon as practicable", but no later than February 26, 2018, or two months after the company's receipt of the requisition.

The board is currently verifying the shareholding of the requisitioning members, as well as seeking legal advice on the validity of their request for convening of the EGM to pass the aforesaid resolutions, the company said.

Shares in the company jumped 14.3 percent to S$0.32 on the Singapore Exchange.

This article was first published on December 28, 2017
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