Requisitioning shareholders of ecoWise say EGM was postponed only because of injunction application

THE 8 shareholders of ecoWise Holdings who have requisitioned an extraordinary general meeting (EGM) have taken issue with the company's statement issued on Wednesday (Mar 16).

In a letter addressed to ecoWise's board and sponsor and seen by The Business Times, the shareholders sought to clarify that a previously requisitioned EGM was not, as ecoWise claimed, "voluntarily postponed". The EGM did not take place earlier because of a temporary injunction obtained by ecoWise's director and deputy chief executive Cao Shixuan, they said.

The shareholders, who collectively own an 11.3 per cent stake in the environmental solutions provider, intend to convene an EGM on Apr 14 to remove Cao from all his roles within the company and its associates. They have also put up 3 new directors for appointment.