KUALA LUMPUR (Nov 21): Datasonic Group Bhd (KL:DSONIC) on Thursday proposed to amend its company constitution to ease the passage of a directors’ written resolution.

In a circular to shareholders filed with Bursa Malaysia, Datasonic proposed to amend Clause 225 to allow adoption of a directors’ written resolution with a majority approval. The current provision requires all of the directors entitled to vote at a board meeting to sign off on a resolution.

Datasonic said the purpose of the proposed amendment is to enhance administrative efficiency and provide greater clarity to the company’s constitution.

This proposed amendment is required to be voted on at Datasonic’s extraordinary general meeting which will be held on Dec 13, 2024, alongside its planned bonus issue and allocation of employees’ share option scheme (ESOS) to three of its executive and non-executive directors.

Those who will be awarded under the ESOS are executive deputy chairman and chief executive officer Datuk Abu Hanifah Noordin, executive director Erna Ismail and independent, non-executive director Tunku Datuk Nooruddin Tunku Datuk Seri Shahabuddin.

Datasonic has 10 board members, headed by executive chairman Tengku Datuk Seri Abu Bakar Ahmad Abdullah, with four executive directors.

The six non-executive directors are Azrul Yahaya, Datuk Ibrahim Abdullah, Datuk Mohd Khalil Kader Mohd, Ahmad Ridwan Abdullah, Michelle Yong Voon Sze and Tunku Datuk Nooruddin Shahabuddin.

Azrul is currently the head of operations of Urusharta Jamaah Sdn Bhd, which owns 8.84% of Datasonic’s shares as of June 4, 2024.

The largest shareholder of Datasonic is Datuk Safian Mohd Yunus with 14.72% total shareholding through Halmark Epitome Sdn Bhd, Kuantum Juang Sdn Bhd and Demi Mekar Sdn Bhd.

Datasonic is in the midst of acquiring 51% equity interest in Innov8tif Holdings Sdn Bhd from Revenue Group Bhd (KL:REVENUE) for a total cash consideration of RM40 million.

On Thursday, Datasonic closed at 40 sen per share, valuing the group at RM1.2 billion. Year to date, the counter has lost 4.76% of its value.