Destini shareholders withdraw EGM requisition after board shake-up
KUALA LUMPUR: Shareholders seeking to overhaul Destini Bhd's board have withdrawn their extraordinary general meeting (EGM) requisition after all four directors targeted for removal resigned and their two nominees were appointed.
Destini Bhd shareholders seeking to overhaul the board withdrew their extraordinary general meeting (EGM) requisition on Aug 17, according to a filing with Bursa Malaysia. The original requisition sought the removal of four directors and proposed the appointment of two nominees. However, all four targeted directors resigned, and their two nominees were appointed ahead of the scheduled EGM on Aug 21.
The shareholders, who hold a combined 10.15% stake in the integrated engineering and defence services company, called the EGM, but the proposed changes have now been implemented. Datuk Abd Aziz Sheikh Fadzir, Ismail Mustaffa, Datuk Bahudin Mansor, and Norashikin Mat Yusof all stepped down effective Aug 13 and Aug 15, respectively.
Their nominees, Datuk Mua Amar Ghadafi Jamal Jamaludin and Datuk Seri Syed Razlan Syed Putra, were appointed to the board, with Syed Razlan becoming independent non-executive chairman and Mua Amar joining as independent non-executive director. The remaining board member, Datuk Seri Dr Shahril Mokhtar, was redesignated as a non-independent non-executive director.
Written by urgent.news from New Straits Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
