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Natural Cool board urges against ouster move

Shareholders advised not to back bid to remove directors and appoint new ones at upcoming EGM; move could also scupper proposed divestment of O&G exploration firm

Nisha Ramchandani
Published Mon, Jan 30, 2017 · 09:50 PM
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Singapore

THE majority of Natural Cool's board have advised shareholders to vote against resolutions to oust them at an upcoming extraordinary general meeting (EGM).

Shareholders Ong Mun Wah and Edi Ng are convening the EGM and want to remove Joseph Ang and other directors from the six-man board, save for chief executive officer Tsng Joo Peng. The four directors are Mr Ang's brother, Eric Ang, and the three independent directors (IDs): lead ID Lim Siang Kai, Wu Chiaw Ching and William da Silva.

Mr Ong and Ms Ng also want to appoint four new directors - Lau Lee Hua, Tan Siew Bin Ronnie, Goh Teck Sia, and Wong Leon Keat (who has a 4.79 per cent stake in Natural Coo…

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