DVM not holding EGM requested by former shareholders

KUALA LUMPUR: ACE-market listed DVM Technology Bhd has announced that it will not convene an extraordinary general meeting (EGM) that was earlier requested by two individuals who have ceased to be shareholders in the company.

“The board of directors of the company wishes to inform that, in the absence of fresh information, the company will not convene an EGM pursuant to the special notice. This takes into account the fact that based on records available to the company, the requisitionists have ceased to be substantial shareholders of the company and both are no longer shareholders of the company, having disposed of all their respective shareholdings in the company,” said DVM in a statement to Bursa Malaysia yesterday.

Last week, Raymond Yip Wai Man and Christian Kwok-Leun Yau Heillesen had called for an EGM to oust the company’s entire board of four directors. The two previously held a collective 15.04% in the loss-making information technology company, though filings dated Aug 15 and Aug 19 indicate that the two have since disposed of their interest.

The two previously sought to remove Tan Sri Abdul Rahman Abdul Hamid, Datuk Goh Kian Seng, Kamaruddin Ngah and Lee Keat Hin as directors.

Shares of DVM shed 0.5 sen to close at 12.5 sen yesterday with 17.3 million units done.