Kitchen Culture shareholders request resignations of 5 directors
Kelly Ng
A GROUP of shareholders collectively holding 21.7 per cent of the issued and paid-up ordinary shares of Kitchen Culture has written to the company’s board to request for 5 directors to voluntarily resign by 5 pm on Oct 14.
The 5 directors are Lau Kay Heng, Lim Wee Li, William Teo Choon How, Ang Lian Kiat, and Peter Lim King Soon.
The shareholders intend to convene an extraordinary general meeting to vote on 11 resolutions to remove these 5 individuals from their directorships, as well as appoint 5 new directors.
They wrote in their letter, which the Catalist-listed company received on Friday (Sep 30), that they are “highly concerned” about developments in the company and believe that the proposed new directors will bring fresh perspectives and rejuvenate the board, moving the company in the right direction and be in a better position to resolve historical problems still afflicting the embattled kitchen systems vendor.
They have proposed resolutions for James Beeland Rogers to be appointed non-executive director, Yip Kean Mun to be appointed executive director, and Lam Kwong Fai, Tan Meng Shern, and Cheung Wai Man to be appointed independent directors.
The relevant shareholders include Lin Xiao Long, Ling Chui Chui, Ooway Group, Koh Cher Chow, Koh Ngin Joo, Lim Cheng Huat, Chew Yu Sheng and Soh Koon Eng.
Trading in the shares of Kitchen Culture has been suspended since Jul 12, 2021.
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