KNM: Group Headed by Tunku Kamariah Calls for Investigation in EGM Vote Count

Kuala Lumpur, 16th October 2023: The group of aspirant directors of the KNM Group are planning to call for an investigation over possible irregularities in the vote count during today’s EGM.

“We will be calling for an investigation over possible irregularities in the vote count of today’s EGM,” a media statement sent by the group of aspirant directors states.

In an earlier press statement dated 20 September 2023, the Princess of Johore had raised concerns about the vote count of a virtual EGM:

“In a virtual meeting, any incumbent board can instruct the illegal registration of shareholders who did not attend the special shareholders’ meeting, thus enabling them to cast illegal votes without any proper means of scrutiny. Such foul play could occur during a hostile takeover of a listed company.”

The Vote Count

According to the group, during the virtual voting of today’s EGM one resolution was not voted on with the German Bilionnaire Mr. Andreas Heeschen’s 323 million shares, resulting in a vote count of 634.5 million.

“The other resolutions then included Mr. Heeschen’s shares and were surprisingly found to be precisely 323 million in difference. The importance of that point is that it proves that the physical proxy form as given by Mr. Heeschen prior to the EGM was not recognised. This now leads to the questioning on whether other physical proxy forms were admitted and included into the total vote count,” says the group.

The total number of shares voted appears to have been as marginal as a 2% difference of the issued share capital. The two sides are surprisingly close in shareholdings.

“KNM denied our request for an independent lawyer to observe the vote count at the EGM. Maybe they have something to hide,” says Tunku Kamariah Aminah Maimunah Iskandariah Binti Sultan Iskandar. She is leading the group of aspirants.

On the other hand, Tunku Kamariah says she would like to thank the shareholders who voted this morning in the KNM’s EGM, which was requisitioned by Andreas Heeschen and other shareholders to deliberate on the proposed management takeover.

Andreas, a friend of Tunku Kamariah, was invited to invest in Malaysia with the intention of restructuring KNM from its financial struggle while bringing in Foreign Direct Investment (FDI) and new business for the group.

Her Highness and her proposed Board of Directors, Andreas, Dato’ Abd. Ghani bin Yusof, Dato’ Zaidi bin Mat Isa @ Hashim, William H Van Vliet III, Flavio Porro and Edwin Silvester Das, collectively do not recognise the outcome of today’s EGM.

Tunku Kamariah Raises More Concerns

Tunku Kamariah was also concerned when 5 submitted live questions were regarded as irrelevant questions by the Company Secretary, Lily Yin Kam May (who is also the company secretary for MAA Group Berhad) prior to the voting on the resolutions during the EGM. The questions referred to the formalities of the vote were as follows:

1. What is the total number of proxies received;
2. What is the total number of proxies rejected and who are they;
3. What is the total number of proxies appointing chairman to vote;
4. What is the total number of proxies in favour of removal; and
5. The total number of proxies vote in favour of appointment.

“We are assessing the situation and will discuss with our advisors. Our options range from conditional offers to dialogues with creditors and other stakeholders.” said Andreas.

Tunku Kamariah’s press statement marks a significant development in the ongoing saga surrounding KNM. The unfolding events at KNM continues to captivate the attention of shareholders, investors, and the broader business community.

Read More From Business News Malaysia