KUALA LUMPUR (Oct 16): Johor Princess Tunku Kamariah Aminah Maimunah Iskandariah Sultan Iskandar, who together with German billionaire Andreas Heeschen and five others who were aiming for a management takeover of beleaguered KNM Group Bhd, has come out to denounce the results of the group’s extraordinary general meeting (EGM) on Monday.

In a media statement, Tunku Kamairah said her group will be calling for an investigation over alleged “possible irregularities in the vote count” at the EGM, which was requisitioned by Heeschen, who had an 8.25% deemed interest in KNM as of Oct 10.

“It became clear during the virtual voting of today’s (Monday) EGM that one resolution was not voted on with Heeschen’s 323 million shares, resulting in a vote count of 634.5 million. The other resolutions [which] then included Heeschen’s shares were surprisingly found to be precisely 323 million in difference," alleged Tunku Kamariah.

“The importance of that point is that it proves that the physical proxy form as given by Heeschen prior to the EGM was not recognised. This now leads to the questioning on whether other physical proxy forms were admitted and included into the total vote count,” added the daughter of the late Sultan Iskandar Sultan Ismail.

According to KNM’s filing with Bursa Malaysia on Monday, the attempt to remove largest shareholder Tunku Datuk Yaacob Khyra was rejected, with 184 shareholders with a total of 1.043 billion shares, or 62.18% of the shares of the voting shareholders, voting against the resolution.

A total of 158 shareholders who collectively owned 643.5 million shares, or 37.82% of the shares, voted in favour of the resolution to remove Tunku Yaacob as a director of the company.

The second resolution which sought the appointment of Tunku Kamariah to replace Tunku Yaacob as a director of the group was also rejected by the voting shareholders at the EGM.

According to KNM, 195 shareholders with a total 1.054 billion shares, or 52.34% of the voting shareholders’ shares, voted against the second resolution, compared with 141 shareholders with 959.54 million shares, or 47.66% of the voting shareholders’ shares, who voted in favour.

“The total number of shares voted appears to have been as marginal as a 2% difference of the issued share capital. The two sides are surprisingly close in shareholdings,” said Tunku Kamariah in the statement.

She also said that KNM had denied her and her team’s request for an independent lawyer to observe the vote count at the EGM, leading her to question whether the board of KNM had anything to hide.

Tunku Kamariah added that she was concerned when five submitted live questions were regarded as irrelevant by the company secretary, Lily Yin Kam May, prior to the voting on the resolutions during the EGM.

The questions concerned the number of proxies received, number of proxies rejected, number of proxies appointing the chairman to vote, number of proxies in favour of removal, and number of proxies voting in favour of the appointment.

Yin is also the company secretary for MAA Group Bhd, in which Tunku Yaacob is the largest shareholder.

Meanwhile, in the same statement, Heeschen said that his group is assessing the situation, and will discuss with its advisers regarding the EGM and the voting outcomes.

“Our options range from conditional offers to dialogues with creditors and other stakeholders,” said Heeschen.

The outcome of the EGM also saw the voting shareholders reject the resolution to appoint Heeschen as a director of the company, with 188 shareholders with total shares of 1.053 billion units voted against the resolution.

However, the resolution to remove Tan Sri Dr Zulhasnan Rafique, whom Heeschen was supposed to replace, was accepted by the shareholders.

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Shareholders battle sees Yaacob Khyra remain as chairman following KNM’s EGM