Kitchen Culture redesignates vice-chairman Lau Kay Heng as non-independent chairman
Raphael Lim
CATALIST-LISTED Kitchen Culture on Thursday (Nov 10) said that it has redesignated its vice-chairman and non-executive director Lau Kay Heng to be the non-executive and non-independent chairman of the board.
Meanwhile, the current non-executive chairperson, Hao Dongting, would be redesignated to non-executive and non-independent director of the company.
In the bourse filing, Kitchen Culture said the redesignation is due to “the need for the chairman of the board to lead the company forward in the challenging business climate and shareholders’ issues faced by the company”.
Both Hao and Lau remain members of Kitchen Culture’s board, which currently has six directors.
The company has been in an ongoing boardroom tussle with a group of shareholders - including the largest shareholder OOWAY Group - seeking to requisition an extraordinary general meeting (EGM) to remove five of the six directors, including Lau.
The only director that the requisitionists are not seeking to remove is former chairperson Hao.
Kitchen Culture had said on Nov 3 that it is seeking fresh legal advice on the validity of a fresh notice from the shareholders who are seeking to remove the directors at an EGM proposed for Nov 25 this year.
It added that the board – apart from Hao – has said that “there are no grounds to justify the resignations of the 5 directors”.
Shares of Kitchen Culture have been suspended from trading since Jul 12, 2021.
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