Shareholders cold to more placements at Natural Cool EGM

Singapore

SHAREHOLDERS at airconditioning firm Natural Cool's extraordinary general meeting (EGM) on Thursday voted resoundingly to revoke the board's share issuance mandate, an outcome that its executive chairman Joseph Ang called a "disappointment" and "defeat".

The meeting, held in a small room at Suntec convention centre, was almost the opposite of the company's Dec 12 EGM. While the Dec 12 one at Natural Cool's Tai Seng premises was packed wall-to-wall, lasted two hours and had a narrow vote margin, the meeting on Thursday was far less crowded and over within an hour.