Sincap asked to hold EGM to remove directors

SINCAP Group said on Wednesday it has received a requisition letter to convene an extraordinary general meeting (EGM) to remove the directors.

The company's board received the notice from "certain shareholders" and is in the process of confirming if the special notice conforms to the provisions under the Companies Act, it said in a filing on Singapore Exchange.

Sincap, which is principally engaged in the mining of gypsum minerals and trading of alumina and coal in China, advised its shareholders and potential investors to "exercise caution before making any decision in respect of their dealings in the shares".

They were also told to "carefully read" this announcement and any further announcements Sincap makes. Those who are in doubt should consult their stockbroker, bank manager, solicitor or other professional adviser.

The group said it will provide further updates "as and when appropriate".