Questions remain ahead of Datapulse EGM

SINGAPORE (Apr 19): Datapulse Technology shareholders will decide Friday whether to keep the incumbent board and support its diversification plans, or to bring in new directors led by the dissenting shareholder Ng Bie Tjin @ Djuniarti Intan.

In an extraordinary general meeting, the shareholders will vote on the proposed removal of CEO and executive director Wilson Teng, chairman and independent non-executive director Low Beng Tin, and independent non-executive directors Rainer Teo and Thomas Ng. To replace them, the requisitionists propose appointing Intan as a non-independent director, and Ng Boon Yew, Loo Cheng Guan and Koh Wee Seng as independent directors.

An additional two resolutions relate to proposals by the incumbent board. One involves a proposal to diversify into investments and consumer business. The other is a proposed special dividend of 1 cent per share, following the sale of its Tai Seng property. With the disposal of the facility, Datapulse’s business of manufacturing media storage products is currently dormant, the company says in its earnings for 2QFY2018 ended Jan 31.

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