KUALA LUMPUR (April 20): Artroniq Bhd shares fell 4.3% in early trade after a group of shareholders called for the removal of four directors of the company yesterday.

At 9.35am, the counter had slipped two sen to 45 sen, with 473,700 shares traded.

In a statement yesterday, Artroniq said four shareholders of the company were seeking to replace four of the existing directors with new ones.

Tee Yen Chong, Yeoh Guan Fook, Lee Pei Mei and Chew Hun Seng, who collectively own at least 10% of the company’s shares, had written to the board of Artroniq to give notice of their intention to move resolutions to effect the proposed board changes in an extraordinary general meeting (EGM) on May 17.

They are seeking to remove existing directors, namely Steven Wong Chin Fung, Choy Eng Lun, Tan Tian Wooi, and Lam Kwan Siew, and replace them with Rahimi Ramli, Andrea Huong Jia Mei, Tan Teck Khong and Chin Yew Thong.

Artroniq said the four shareholders are also pushing for any directors appointed between today and the EGM to be removed with immediate effect.

Artroniq is an investment holding company, which through its subsidiaries manufactures polyethylene compounds for wire and cable insulation and jacketing.

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