Pteris director explains call for EGM on RTO deal

DISSENTING Pteris Global director Winston Tan said his requisition to remove five of his fellow board members is necessary as it will enable his new team to properly review Pteris' proposed reverse takeover (RTO) deal.

Mr Tan made the comment in response to board questions on why he requisitioned an extraordinary general meeting (EGM) to raise concerns about the RTO when an EGM specifically addressing the RTO had already been planned for Q3 2014.

Mr Tan told The Business Times after a dialogue with fellow shareholders that he cannot afford to wait for the Q3 EGM to evaluate the RTO's merits.