Natural Cool chairman survives ouster bid

Singapore

THE executive chairman of air conditioning firm Natural Cool Holdings managed to survive an ouster attempt by a fairly narrow margin of votes at an extraordinary general meeting (EGM) on Monday. The EGM was called for by a substantial shareholder who appeared to be absent from the meeting.

The board strife at the Catalist- listed firm is not over, however, with the next hurdle being another EGM later this month requisitioned by shareholders who want to revoke a share issuance mandate after the company recently placed out a substantial stake to a former top executive of Singapore investment firm Temasek Holdings.