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Court orders Shanghai Turbo to postpone EGM till Court of Appeal hears its case
SHANGHAI Turbo Enterprises on Friday evening updated that when it applied to the Court of Appeal for a stay of the order discharging the injunctions against Liu Ming, its former CEO and executive director who was voted out by shareholders at an annual general meeting last year, the court had ordered the appeal to be heard on an expedited basis in the week of Sept 24, 2018.
In addition, the court ordered the company's extraordinary general meeting (EGM) - currently fixed on July 24, 2018 - be adjourned to Oct 17, 2018 after the appeal has been heard by the Court of Appeal.
The company will provide notice of the EGM to be held on Oct 17, including its venue, in due course.