AMEDIA welcomes... NWP!!!
Referring to the announcement today by AMEDIA, an EGM has been called for to remove 4 of the current 7 board members:
[REMOVE] 1. Raja Munir Shah Bin Raja Mustapha (Independent Non-Exec Chairman)
[REMOVE] 2. Yap Ping Tiong (Exec Director)
[REMOVE] 3. Datuk Kang Hua Keong (Exec Director)
[REMOVE] 4. Chua Yeong Lin (Independent Non Exec Director)
[Remain] 5. Chen Jui-Lian (Exec Director)
[Remain] 6. Datuk Chiw Tiang Chai (Independent Non Exec Director)
[Remain] 7. Liew Chee Keong (Non Exec Director)
The 3 shareholders who lodged the EGM notice:
1. Chua Zee Neng - ex-chairman of AMEDIA who was removed in 2019
2. Datuk Chu Boon Tiong - ED of NWP, ITRONICS
3. Sim Ah Yoke
Pertinent questions that arise from this:
1. The 3 directors who are not being voted out
Whoose side are they on? The current controlling shareholder or the new party?
2. The 4 directors that are being voted out
Do they have enough support from the major shareholders to ward off the hostile removal?
3. Just exactly how much shares are in the hands of the new party seeking control of the board? And how many other shareholders have they secured to be voting on their side?
This EGM notice is just a confirmation of the ongoing share grab in the open market by shareholders seeking control of the board.
NWP x AMEDIA
Also, assuming Datuk Chu and his gang is successful in gaining control of AMEDIA, what's next? Could they already have plans for AMEDIA to coincide with the launching of the new tech co JV on NWP side?
The show has just begun, stay tuned.