EGM called to replace four Datapulse directors
The family of former Datapulse Technology chairman and co-founder Ng Khim Guan is seeking to replace four directors on the company's board and re-evaluate the firm's diversification strategy.
Yesterday, the digital media storage maker said it has received a requisition notice to convene an extraordinary general meeting (EGM) from Mr Ng's daughter, Ms Ng Bie Tjin, and Uniseraya Holdings, which have a combined stake of about 16 per cent in the company.
The EGM must be held no later than Feb 26.
Uniseraya and Ms Ng said the EGM is for shareholders to consider the removal of Mr Low Beng Tin as non-executive chairman and company director and of three other directors - Thomas Ng, Rainer Teo and Kee Swee Ann.
Also on the agenda is an evaluation of the company's diversification and investment strategy.
This comes as Datapulse acquired Wayco Manufacturing for a cash consideration of $3.5 million earlier this month, and entered into an new business of manufacturing hair care, cosmetics and other homecare chemical products through the acquisition. - RACHEL MUI