SINGAPORE (Oct 31): IPCO’s board of directors have received a written requisition on Monday from James Moffatt Blythman.
See: New IPCO shareholder Blythman calls for EGM to oust leadership
As announced on Oct 17, Blythman wants IPCO to convene an extraordinary general meeting (EGM) to pass the following:
Resolution 1: Appointment of Joseph Chen and Ng Fook San as independent directors of the company with immediate effect.
Resolution 2: Removal of Carlson Clark Smith as Executive Director and Chief Financial Officer with immediate effect.
Resolution 3: The immediate removal of any directors and key office bearers appointed subsequent to the date of the requisition notice.
Under the Companies Act of Singapore, IPCO has 21 days after the date of the requisition notice to proceed to convene a meeting.
IPCO’s former CEO is Quah Su Ling, one of the three individuals now facing charges for their roles in the October 2013 penny stock saga.
The other two individuals are John Soh Chee Wen and Goh Hin Calm, IPCO’s interim CEO.
Shares in IPCO closed at 0.3 cent.
