KUALA LUMPUR (Oct 9): A group of Greenyield Bhd (KL:GREENYB) shareholders, led by Tham Chong Sing, has issued a new notice for an extraordinary general meeting (EGM) to remove non-executive chairman Tham Foo Keong, following the resignation of three other directors they previously aimed to remove. Foo Keong and Chong Sing are brothers.
The three independent directors — Saryani Che Ab Rahman, Supramaniam R Ramasamy, and Mohd Ghozali Yahaya — resigned on Oct 1, shortly after the board rejected the group’s earlier EGM request. They cited personal reasons.
The directors they seek to appoint to the board remain the same.
The shareholder group includes Chew Kee Foo, Foong Sai Cheong, and DKIC Capital, collectively holding over 10% of shares. The dispute is part of an ongoing power struggle within the Tham family.
Other board members, Foo Choon (65) — one of the Tham brothers — and his son Kin Shun (32), who support Chong Sing, are not being targeted.
The group previously proposed removing four directors and appointing:
- Voon Sze Lin
- Tham Kin Yiq
- Tham Kin Wai
- Chong Sin Hao
And three independent directors:
- Syakur Mohd Suhaimi
- Kamarudin Md Derom
- Lee Kim Hong
Greenyield, founded by the Tham family in 1937, makes and sells agro-tech products.
Foo Keong is the company’s single largest shareholder with a 17.31% interest, while Chong Sing is its second largest shareholder with 13.06%. Foo Choon owns a 12.99% stake and Fau Sin, a 10.89% stake.
Greenyield’s share price closed unchanged at 19 sen on Thursday, valuing the company at RM105.3 million. Year to date the stock is down 19.15%.