KUALA LUMPUR (May 9): Metronic Global Bhd, a total building management engineering solutions provider, has launched legal action against its shareholders who collectively hold a 39% stake in the company, alleging they had conspired to injure and had blackmailed the company for RM20 million and to withdraw a police report against Tan Ew Chew.

It claimed these shareholders had also failed to undertake a mandatory general offer, after they had gained control over the company.

In a filing with Bursa Malaysia today, Metronic named the 11 defendants as Ew Chew, Tan Kian Hong, Tan Hong Hong, Tan Lian Hong, Ooi Chieng Sim, Lagenda Perdana Sdn Bhd, Progerex Sdn Bhd, Skylitech Resources Sdn Bhd, Hock Lok Siew Realty Sdn Bhd, A1 Capital Sdn Bhd and Ng Wai Yuan.

"For avoidance of doubt, the company had made a police report earlier which as a result, Ew Chew was charged for criminal breach of trust in the criminal court," it added.

Metronic also noted that the notice issued on April 25 by Lagenda Perdana, Lian Hong and Wai Yuan to requisition an extraordinary general meeting to remove three directors namely Hoo Wai Keong, Datuk Kua Khai Shyuan and Khor Ben Jin and appoint four new ones – Kian Hong, Loh Chye Teik, Seah Soo Chang and Kok Chee Hong – is invalid.

Through the suit, Metronic said it is seeking a declaration that the 11 defendants are persons acting in concert (PACs) and that they had obtained control over the company, as defined by the Securities Laws.

It also wants a declaration that the requisition notice is null and void, as well as seeks damages.

"Any further material development will be announced accordingly," Metronic said.

Metronic shares closed down 0.5 sen or 6.25% at 7.5 sen today, with 2.17 million shares done, bringing a market capitalisation of RM72.2 million.