MC Payment has announced that it has received another letter from controlling shareholder Ching Chiat Kwong with regards to nominations to the board.
Ching had previously sent two letters, dated April 29 and May 3, indicating his wishes to nominate Henry Ng, Shawn Ching and himself to MC Payment’s board, after Ng and Shawn did not win re-election on April 28 during the company’s AGM.
SEE:Tussle at MC Payment continues as Oxley's Ching steps into fray
On May 10, MC Payment announced that it has received another letter from Ching dated May 4 requisitioning for an extraordinary general meeting (EGM) to approve the resolutions for the appointments of Ng, Shawn Ching, and himself, as well as two more individuals - Tan Chee Keong and Chee Kheng Hock - to the board.
MC Payment states that in his letter, Ching invited the board to “consider and appoint Johnny Chee and Henry Tan as independent directors”, together with Ching as a non-independent director to the board, in accordance with Article 115 of the company’s constitution.
Shares in MC Payment closed 1.5 cents or 3.75% lower at 38.5 cents on May 7.
