The Company refers to its announcement dated 12 March 2024.
The Company wishes to announce that the Board has proceeded an emergency Board meeting today at 11am.
During the course of the meeting, the Board has been briefed with regards to:-
1. the notices of intention issued by Chong Fu Shen and Honsin Apparel Sdn Bhd;
2. an objection letter from a substantial shareholder with regards to the same notices of intention; and
3. the article issued by Securities Commission Malaysia (“SC”) on 15 March 2024 and published by The Edge Malaysia.
The Board studied various legislatures and regulations, and requested for advice from its legal counsels.
During the course of the meeting, the Company was served with a complaint by the substantial shareholder to the SC, complaining of a breach of Section 218 (2) of the Capital Markets and Services Act 2007 by Chong Fu Shen, Honsin Apparel Sdn Bhd and Datuk Au Yee Boon together with a number of other parties acting in concert, amongst them, Techbase Industries Berhad (formerly known as Prolexus Berhad) and YB Ventures Berhad.
Following an extensive deliberation and discussion, and with the new complaint received, the Board has requested further views from the legal counsels, and thus, the meeting has been adjourned at 3.20 p.m. and to be re-convened at 10 a.m. tomorrow.
Whilst no final decision has been made yet, the Board is inclined to circulate the proposed resolutions as set out in the notices of intention as mentioned above to be moved in the upcoming annual general meeting. The Company has reached out to Chong Fu Shen and Honsin Apparel Sdn Bhd as to whether they will bear the costs of circulating the notices pursuant to Section 323 of the Companies Act 2016.
The Company will make the necessary announcements on the development of the matter upon the conclusion of the Board meeting which is to be reconvened tomorrow.
This announcement is dated 18 March 2024.
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发表于 20-3-2024 01:51 AM
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