Top Glove up 1.82% as it seeks removal of Adventa Capital rep

PETALING JAYA: Top Glove Corp Bhd's share price rose 1.82% this morning after it announced plans to remove Low Chin Guan, a representative of Adventa Capital Pte Ltd from its board.
At 11.04am, Top Glove was trading at RM11.20 with 1.18 million shares changing hands.
Top Glove yesterday said in a filing with the stock exchange that it had received a special notice from its founder and executive chairman Tan Sri Lim Wee Chai, who holds more than 10% stake in the group, to remove Low at an EGM to be held as soon as practicable.
Last month, Top Glove initiated legal proceedings against Adventa Capital over an alleged conspiracy to defraud the group as well as fraudulent misrepresentations made by the latter’s directors in relation to the purchase of surgical gloves producer Aspion Sdn Bhd for RM1.37 billion.
Low, 58, was appointed to the Top Glove board as an executive director on April 4, 2018 after the completion of the Aspion deal.