Nexgram makes second bid to remove R&A Telecommunication directors

PETALING JAYA: Nexgram Holdings Bhd and Francis Tan Hock Leong are making their second bid to remove R&A Telecommunication Group Bhd directors after the Kuala Lumpur High Court declared the first EGM notice invalid last month.
R&A, a Guidance Note 3 (GN 3) company, told Bursa Malaysia that it had received written requisitions from Nexgram and Tan to convene an EGM on January 23 for the removal of three directors, namely Sim Keng Seong, Chua Soo Seong and Lim Tiong Jin.
Meanwhile, Rajendra Raja S.Govindaraj, Cheang Soon Siang and Kamal Abdul Aziz will seek representation on the R&A board.
Tan is R&A's founder with a 6.47% stake. He stepped down from his position as executive director last December.
Nexgram owns a 6.83% equity interest in R&A.
R&A was supposed to have its EGM on November 22 at the Cheng Yi Auditorium of the Kuala Lumpur and Selangor Chinese Assembly Hall, Kuala Lumpur, but it was ruled invalid by the court a day before.
Nexgram's share price gained 14.29% to close at 4 sen on Friday with some 270,000 shares done. Trading in R&A shares was suspended since September 14, 2016.