R&A files court action against ex-director Francis Tan

TheEdge Fri, Jan 12, 2018 10:14am - 6 years View Original


KUALA LUMPUR: Guidance Note 3 (GN3) company R&A Telecommunications Group Bhd has filed a court action against its former executive director Francis Tan Hock Leong and six other parties.

This comes after R&A lodged a police report against Tan on Dec 29, 2017 for attempting to withdraw a previous police report made by the group relating to unauthorised transactions worth RM4.2 million in April 2017.

In a filing with Bursa Malaysia yesterday, R&A said that it had filed a notice of application in the High Court against Tan, Nexgram Holdings Bhd, and Nexgram directors Mazru Mat Yusof, Helmi Faisal Fuad, Datuk Donald Lim Siang Chai, Fu Lit Fung and Zaharin Ahmad Zamani.

“The parties have acted with the intention to contravene with the order by the court dated April 11, 2017 and are seeking to interfere with the duties of Lim Tiong Jin pursuant to his appointment by the Court on April 11, 2017,” said R&A. Lim is a non-executive director of R&A.

“To date, the parties have not taken any steps to withdraw the notice of the extraordinary general meeting (EGM) dated Dec 22, 2017 which seeks the removal of Lim. Hence, the parties have committed contempt in the face of the court,” R&A added.

As at June 30, 2017, Nexgram held a 6.83% stake in R&A, with Tan holding another 6.47%. On Dec 22, 2017, R&A received an EGM notice from the two shareholders to remove all six R&A directors including Lim, as well as those who have been appointed by R&A’s board of directors.

R&A said it is seeking to apply for an order of committal for contempt of the court against the parties. Hearing is fixed for Jan 29.

In a related matter, R&A said that it had received an originating summons filed by Soon Seng Hock against Tan, Nexgram and R&A in the High Court to declare that the notice of EGM for R&A dated Dec 22, 2017 as invalid as it is allegedly discriminative and is prejudicial to R&A stakeholders. Hearing is fixed at the High Court for Monday.

Trading in R&A shares has been halted since Sept 14, 2016 after it failed to submit its regularisation plan to Bursa Securities. On Jan 4 this year, the group requested for an extension of time up to July 3 to submit a new regularisation plan
 

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