Camsing Healthcare's suspended chairman withdraws requisition for EGM

THE requisitioning shareholders of Camsing Healthcare have withdrawn their request for an extraordinary meeting (EGM) to remove and appoint certain directors, the mainboard-listed company said on Friday evening.

The company had received a requisition letter on Oct 23 purportedly signed by Lo Ching, who is chairman of Camsing shareholder Creative Elite Holdings, to hold an EGM no later than three weeks from that date. Camsing also received a letter dated Nov 11 from the lawyers appointed by Ms Lo and the requisitioning shareholders demanding that arrangements be made for the proposed EGM.

However, the board subsequently received a letter on Dec 6 from the shareholders' lawyers to withdraw the requisition notice.

Camsing Healthcare had suspended all administrative and executive duties and powers of Ms Lo as chairman and executive director in August, after she was taken into criminal custody by the Shanghai police for undisclosed reasons.

Creative Elite holds more than 10 per cent of shares in Camsing, according to the latter's bourse filing on Nov 18.

The requisition notice, said to be signed by Ms Lo, had proposed to remove four directors Anand Patel Rameshchandra, Lim Heng Huat, Tay Chiew Sheng and Zhang Zhen from the board, and to appoint three new directors Chong Eng Wee, Victor Lai Kuan Long and Elliot Lee.

Shares in Camsing Healthcare have been suspended since Apr 1.