KUALA LUMPUR: R&A Telecommunication Group Bhd’s two biggest shareholder Nexgram Holdings Bhd and R&A group founder and former executive director Francis Tan Hock Leong, are seeking to replace R&A’s entire board members with new directors.
R&A, which makes telecommunication structures and offers engineering solutions for telecommunication networks, told Bursa Malaysia that Nexgram and Tan, who hold 6.83% and 6.47% equity interest respectively, had given a notice to it requesting an EGM to consider the removal of the board members and the appointment of three new ones.
The directors named are chief executive officer Sim Keng Siong, Selva Rasan Datuk Puspa Das, Chua Soo Seong and Lim Tiong Jin.
Nexgram and Tan also nominated Rajendra Raja S. Govindaraj, Cheang Soon Siang and Kamal Abdul Aziz to the board.
R&A, a Guidance Note 3 company, is in the midst of finalising a regularisation plan. Based on an announcement in March, it will, as part of its regularisation plan, acquire another telecommunication solutions provider Forward Resources and Construction Sdn Bhd from Lean Kock Kiang, his wife Lee Sek Ang, and FRC Resources Sdn Bhd (FRCR), a special purpose vehicle owned by the couple that will become the new listed vehicle in place of R&A.
Stock: [RA]: R&A TELECOMMUNICATION GRP BHD
2017-10-18 00:59 | Report Abuse
KUALA LUMPUR: R&A Telecommunication Group Bhd’s two biggest shareholder Nexgram Holdings Bhd and R&A group founder and former executive director Francis Tan Hock Leong, are seeking to replace R&A’s entire board members with new directors.
R&A, which makes telecommunication structures and offers engineering solutions for telecommunication networks, told Bursa Malaysia that Nexgram and Tan, who hold 6.83% and 6.47% equity interest respectively, had given a notice to it requesting an EGM to consider the removal of the board members and the appointment of three new ones.
The directors named are chief executive officer Sim Keng Siong, Selva Rasan Datuk Puspa Das, Chua Soo Seong and Lim Tiong Jin.
Nexgram and Tan also nominated Rajendra Raja S. Govindaraj, Cheang Soon Siang and Kamal Abdul Aziz to the board.
R&A, a Guidance Note 3 company, is in the midst of finalising a regularisation plan. Based on an announcement in March, it will, as part of its regularisation plan, acquire another telecommunication solutions provider Forward Resources and Construction Sdn Bhd from Lean Kock Kiang, his wife Lee Sek Ang, and FRC Resources Sdn Bhd (FRCR), a special purpose vehicle owned by the couple that will become the new listed vehicle in place of R&A.
http://www.thestar.com.my/business/business-news/2017/10/17/nexgram-and-r-and-a-group-founder-seek-to-remove-r-and-a-board-members/