KUALA LUMPUR: Kronologi Asia Bhd has received a requisition from its largest shareholder Piti Pramotedham who currently holds a 53.03% stake in the company, requiring it to call an extraordinary general meeting (EGM).

Pramotedham, who is Kronologi’s executive chairman and group chief executive officer, is seeking to requisition an EGM on Aug 26 to consider ordinary resolutions to appoint four new directors and to remove any person appointed by the directors of the company as an additional director between the date of requisition and the conclusion of the EGM.

In a filing with Bursa Malaysia yesterday, the enterprise data management solutions provider said the proposed directors are Dr Chew Seng Poh, Anand Padmanabhan, Edward Khor Yew Heng and Tan Bee Kheng.

On Aug 6, the majority of the board of directors of the ACE Market-listed company took a position to refuse to convene the EGM.

“The requistionist has considered all aspects of the above resolutions, and believes that with the background, mix, and skill of experiences of the proposed nominees, they would bring independent judgement to the decision-making process of the board of directors,” said Kronologi.

Kronologi shares closed down 2.5% to 20 sen yesterday, with a market capitalisation of RM46.21 million.

This article first appeared in digitaledge Daily, on August 12, 2015.