EONCAP calls for EGM to appoint new directors
Filed Under (Business News) by Webmaster on 25-02-2010
Tagged Under : eon capital
EON Capital Bhd (EON Cap) said the EGM called by its major shareholder and director Rin Kei Mei will be held on March 15 after the meeting was adjourned on Monday on technical grounds.
In a filing with the stock exchange, the company said it received yesterday a letter from Rin’s investment vehicles, Kualapura (M) Sdn Bhd and Lintang Emas Sdn Bhd, notifying it that they would call and convene the EGM for the purpose of considering and if thought fit, the appointment of seven new directors to the EON Cap board.
The proposed candidates are Tengku Ahmad Faisal Tengku Ibrahim (ING Insurance Bhd director), Tengku Azman Ibni Sultan Abu Bakar (Syarikat Takaful Malaysia Bhd director), Haron Siraj (Jerneh Asia Bhd and Scomi Group Bhd director), Zaha Rina Zahari (MAA Holdings Bhd director), Wee Hoe Soon @ Gooi Hoe Soon (EON Bank Bhd director), Nicholas John Lough @ Sharif Lough Abdullah (MAAKL Mutual Bhd director) and Ahmad Riza Basir (Jerneh Asia Bhd and Manulife Holdings Bhd director).
Tan Leh Kiah had earlier been proposed but announced his decision to pull out on Monday.
The EGM notice added that the proposed appointments would be with effect from receipt of Bank Negara’s approval, and not “with immediate effect” as per its earlier notice.
EON Cap said it had received seven separate notices from Rin’s companies on their intention to propose the seven individuals for election and appointment as well as seven separate notices from the said individuals to notify of their willingness to be elected and appointed directors at the forthcoming meeting.
Shortly after the EON Cap board rejected a takeover offer by Hong Leong Bank Bhd and decided not to table the offer to shareholders, Rin had called for the EGM to reconstitute the board, presumably to put through to shareholders any new takeover offers.
Hong Leong Bank’s RM4.92bil cash offer was deemed by the board as “undervalued” given that the financial group had undergone a three-year transformation programme which had positioned it for “strong and sustained future growth as an independent company.”
The EGM will be held at Hotel Equatorial, KL at 4pm. “The company will make further announcements as and when it receives new relevant information in this regard,” EON Cap said.
