KUALA LUMPUR: TMC Life Sciences Bhd’s major shareholder Sasteria Pte Ltd has called for an extraordinary general meeting to remove suspended group chief executive officer Wan Nadiah Wan Mohd Abdullah Yaakob as a director in the company.
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Sasteria holds a 70.13 per cent interest in the company.
In a filing with Bursa Malaysia Securities, the company said it received special notices from Sasteria and the Regent of Johor, Tunku Ismail Sultan Ibrahim, as shareholders who hold more than half of the total voting rights in the company, to requisite an extraordinary general meeting (EGM) to remove Wan Nadiah as a director with immediate effect.
Tunku Ismail owns a 7.64 per cent interest in TMC Life Sciences.
The company said details of the notice to shareholders and the date of the EGM will be announced in due course.
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The announcement follows TMC Life Sciences’ announcement in August this year, that it will issue a domestic inquiry notice to Wan Nadiah for her to be heard by an independent panel, after a mediation process failed.
TMC Life Sciences suspended the employment of Wan Nadiah on Jan 29, 2024, to facilitate an internal disciplinary process relating to six allegations of misconduct as stated in the first show cause letter issued to her on Jan 29, 2024.
Dr Heng Jun Li is currently acting GCEO of the company.
TMC Life Sciences’ share price last closed at 53 sen a share, giving it a market capitalisation RM923.2 million.
-NewStraitsTime