KUALA LUMPUR (Nov 12): Shareholders of Greenyield Bhd (KL:GREENYB) have voted to remove its non-executive chairman Tham Foo Keong at an extraordinary general meeting (EGM) held on Wednesday.

The resolution to remove Tham was passed with 73.26% of votes (367.93 million shares) in favour while 26.74% (134.32 million shares) voted against. 

In total, 99 shareholders supported the motion and 13 opposed it, according to Greenyield’s filing with Bursa Malaysia. 

Following the resolution, shareholders also approved the appointment of seven new directors, namely Voon Sze Lin, Tham Kinyiq, Tham Kin Wai, Chong Sin Hao, Syakur Mohd Suhaimi, Kamarudin Md Derom and Lee Kim Hong.

The EGM was convened after a group of shareholders led by Tham Chong Sing — Foo Keong’s brother — issued a notice last month seeking his removal. The group, which collectively holds over 10% of the company’s shares, includes Chew Kee Foo, Foong Sai Cheong and DKIC Capital Sdn Bhd. The removal of Foo Keong is part of an ongoing inter-family dispute at Greenyield.

Foo Keong is Greenyield’s single largest shareholder with a 17.31% stake, followed by Chong Sing (13.06%) and Tham Foo Choon (12.99%). 

The attempt to oust Foo Keong came after the resignation of three independent directors — Saryani Che Ab Rahman, Supramaniam R Ramasamy, and Mohd Ghozali Yahaya — on Oct 1. The trio had previously been targeted for removal by the same shareholder group.

Founded by the Tham family in 1937, Greenyield manufactures and sells agro-technology products. 

The group’s share price slipped half a sen or 2.56% at 19 sen on Wednesday, giving it a market capitalisation  RM105.31 million.