“The company would like to assure shareholders that the board and management welcome constructive suggestions from shareholders. The company is reviewing the matter and will make further announcements as and when appropriate,” reads UOI's response.
United Overseas Insurance (UOI) says it is “reviewing” minority shareholders’ proposed actions to table resolutions at the company’s upcoming annual general meeting in April, and will make further announcements “as and when appropriate”.
In a March 3 bourse filing, UOI says a shareholder has contacted the company “claiming to act on behalf of these minority shareholders”. “As the company understands, these proposed resolutions pertain to distribution of shares in Haw Par Corporation (SGX:H02
) held by the company to its shareholders, and appointment of a financial adviser to explore options to unlock shareholder value”.
