KUALA LUMPUR (Sept 28): Digital services firm Zetrix AI Bhd (KL:ZETRIX), whose external auditors resigned on Monday, announced on the same day that it has completed the payout of its delayed cash dividend to all eligible shareholders.
In a bourse filing, the group said the final dividend of 2.89 sen per share for the financial year ended Dec 31, 2025, had been fully paid out, save for the "affected shareholders" tied to the legal action initiated by a substantial shareholder, whose identity it never disclosed.
The dividend payment was initially scheduled for Sept 18, before being deferred to Sept 24 and subsequently pushed to Sept 28.
Zetrix blamed the initial delay on an ad interim injunction granted by the High Court following an application by a substantial shareholder. The order restrained the distribution of cash dividends to certain Central Depository System (CDS) accounts owned by the substantial shareholder.
The shareholder sought the injunction after nominees allegedly failed to follow instructions to opt to receive Dividend Reinvestment Plan (DRP) shares in lieu of cash.
The subsequent delay to Sept 28 was attributed to a calculation error that arose from a computation mismatch after two nominees — CGS International Securities Malaysia Sdn Bhd and CGS International Futures Malaysia Sdn Bhd — were allowed to intervene in the legal proceedings during a Sept 24 hearing.
According to Zetrix, the intervention halted an intended consent judgement that would have expanded the list of excluded CDS accounts. Consequently, the group had to reinsert those accounts into its payment processing listing, which required further adjustments to be made.
Zetrix's latest annual report listed managing director Wong Thean Soon, better known as TS Wong, and his private vehicle Asia Internet Holdings Sdn Bhd as its only two substantial shareholders. Asia Internet ceased to be a substantial shareholder last week.
TGS TW resigns
Separately, the company announced that it had received a resignation notice from Messrs TGS TW PLT.
"Notwithstanding lengthy discussions between TGS and the company, TGS has maintained its wish to resign due to its portfolio rationalisation and resource management. Consequently, the board has accepted the resignation of TGS on 28 September 2026," it said.
Zetrix shares closed unchanged at 19 sen, giving the group a market capitalisation of RM1.53 billion.