A GROUP of minority shareholders holding a combined 10.68% stake in Kumpulan Jetson Bhd have taken legal action to compel the company to provide access to its shareholder list and allow an extraordinary general meeting (EGM) to proceed.
The group aims to remove the entire board and has requested the High Court to fix the EGM for June 18 or a later date.
The five requisitioning shareholders include Yudishthiran Doraisamy (4.05%), Dhayalini PG Doraisamy (4.01%), PG Doraisamy P Gopal (0.79%), Wong Hong Yuk (1.21%) and Teoh Cheng Fang (0.62%).
They also seek a court order to prevent any board changes, share transactions, or unusual business decisions until the EGM is held.
This move comes after the company’s board delayed the EGM pending the outcome of a separate lawsuit by three shareholders challenging the validity of the April 23 requisition notice.
That notice proposed the removal of all existing directors and the appointment of five new ones, including Wong Hong Yuk and Teoh Cheng Fang.
The court has scheduled a hearing for June 9.
Kumpulan Jetson posted a net loss of RM22.15 million for the financial year ended March 31, 2025, with no prior-year comparisons due to a change in financial year-end.
Its shares closed unchanged at 19 sen, giving it a market capitalisation of RM79.2 million. –TMR
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