OTHERS Ire-Tex Corporation Berhad ("IRETEX" or "the Company") Extraordinary General Meeting (EGM) called by Elite Cosmo Group Limited


Type Announcement
Subject OTHERS
Ire-Tex Corporation Berhad ("IRETEX" or "the Company")  
Extraordinary General Meeting (EGM) called by Elite Cosmo Group Limited

Further to the announcement yesterday regarding the dismissal of the company's application to restrain the EGM to be held on 25 August 2017, the Company would like to announce that:

1. Elite Cosmo Group Ltd attempted to convene the EGM at 10.18 am this morning at the 1st Floor, Cheng Yi Auditorium, The Kuala Lumpur and Selangor Chinese Assembly Hall, No.1, Jalan Maharajalela, Kuala Lumpur.

2. No proper notice of the EGM was given, hence the EGM is invalid. The EGM Notice was not given in accordance with Article 62 of the Company's Articles of Association.

3. No attempt was made by Elite Cosmo Group Lts to observe and comply with the Articles of Association of the Company hence the EGM is invalid. In this regard, the convenor of the meeting did not observe Article 71 and Article 67.

4. No resolutions were competently moved and no resolutions were passed as the EGM is invalid. Notwithstanding that, Messrs Kanesalingam had written to the Company Secretary claiming that the EGM passed all the resolutions proposed thereat, i.e. the removal of Dato' Seri Shariff Omar, Mak Lin Kum, Chin Wui Choong and Ahmad Amryn. In addition, Messrs Kanesalingam also claims that the newly appointed directors have been removed, i.e. En Saharun Nizam bin Saharan, En Mohd Fahami bin Mohamed, Mr Chin Peng Wai and En Mohd Mahyuddin bin Zainal. Besides the EGM not being validly called, the newly appointed directors cannot be removed without special notice of the intention to remove them being given in accordance with Section 206 and Section 322 of the Companies Act, 2016. Any resolution purporting to remove them is not effective in any event.

5. Messrs Kanesalingam has also contended that En Hamdan and YM Raja Hizad have been appointed. The Company's position is that the EGM is invalid and hence, no valid appointment of any persons as directors took place.

6. The attempted EGM does not affect the continuation of Suit 244.

This announcement is dated 25 August 2017.

Announcement Info

Stock Name IRETEX
Date Announced 25 Aug 2017
Category General Announcement for PLC
Reference Number GA1-25082017-00121