KNM EGM: Tunku Kamariah urges all shareholders to vote

Tungku Kamariah urging shareholders to vote in the EGM

Tunku Kamariah Aminah Maimunah Iskandariah Binti Sultan Iskandar, also known as Tunku Kamariah, has made a public statement regarding KNM Group Berhad (KNM. Stock code: 7164), urging shareholders to participate in the upcoming extraordinary general meeting (EGM) on October 16. She says they must KNM to protect their voting rights and rescue KNM.

The EGM, to be held on October 16, was requisitioned to discuss a proposed management takeover led by Andreas Heeschen, who aims to restructure KNM and attract foreign direct investment.

Tunku Kamariah expressed concerns about the possibility of illegal voting during the EGM if shareholders don’t participate. She emphasized the importance of shareholders’ responsibility in voting to avoid potential legal issues and unfavorable outcomes for KNM.

Beware of illegal voters

“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.”

She recommended it is best for KNM shareholders take up their responsibility and vote at the EGM. This could avoid potential lawsuit and any undesirable outcome for KNM.

She countered media articles supporting the current board and expressed her intention to form a new board to guide KNM out of its financially distressed state. She cited a lack of resources within the current board to effect a turnaround, as acknowledged by KNM’s CEO and Managing Director, Ravindrasingham Balasingham.

Tunku Kamariah highlighted the competence of the new directors she has selected and outlined her vision for the company’s future, including injecting new capital, acquiring assets, and securing long-term contracts.

Tunku Kamariah on KNM prospects

“We have the local and European resources to assist KNM to settle debt repayment. Possibly, a migration of debt in circa 160million Euro via bridging loan & special issuance of bond. And we have the resources for capital raising of around RM400 million via appropriate corporate exercise,” she adds.

She clarified that the EGM is not a competition between Germany and Malaysia but a collaborative effort to rescue and grow KNM. She also called for an end to defamatory remarks and false statements regarding the proposed directors.

Tunku Kamariah questioned the accuracy of certain statements, including the valuation of KNM and the listing of Borsig GmbH on the SGX-ST. She urged transparency and proper procedures in the decision-making process.

Tunku Kamariah’s statement represents a significant development in the ongoing saga involving KNM and offers a vision for the company’s future, emphasizing the need for shareholder participation and responsible governance.

“The current board had their chances to fix KNM for the past 2 years. In fact, key employees have resigned from the company. If you are really transparent and willing to fight for the interest of customers, employees, creditors and shareholders, come and team up with the new proposed directors – forming a unity board or make way for us,” she challenges.