Why not acquire just 10% of the issued shares, convene an EGM and pass resolutions to remove all the existing Directors en block, appoint some willing and capable persons as new directors and to have the company wound up, and realise the asset in cash to be distributable to shareholders. I thick each will receive more than RM 2 cash. I thick the directors and their related parties cannot vote agianst the resolution to remove them because they are interested in the resolution and should absent themselves when the resolution is being moved. I am a retired person and have long not updated with company and relevant laws. Can someone with more knowledge explore the options. Can we approach the minority shareholders protection association? for advice. The arrogant way they react to shareholders request for higher dividend as reported in the news really anger many people. They are never willing to share the fortune with us. It's time to take matter in our own hands.
The minorities who attended the AGM collectively held around 18% of the total votes. If these minorities can regroup, they can write to the Company to call for an EGM to propose any resolution including the removal of the entire BOD.
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TheContrarian
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Posted by TheContrarian > 2017-11-26 22:47 | Report Abuse
Inari climbed up non-stop because EPF (currently holds 103 million) and KWAP (currently holds 180 million) have been aggressively accumulating.