Latest Newsletter: MSWG Weekly Newsletter 22 March 2019 (English)
22 March 2019
MESSAGE FROM THE CEO
London Biscuits Berhad – Inconvenience to Shareholders and the Group’s Dire Straits – Minority Shareholders Be Aware
Inconvenience to Shareholders
London Biscuits Berhad (the Company) has called for an AGM on 29th March, a Friday at 8 am in Ulu Tiram, Johor Darul Takzim. An EGM is scheduled for the next day, Saturday, also at 8 am.
The above scenario raises many issues that inconveniences minority shareholders and is not conducive to enable them to attend the general meetings.
Is it necessary to start the AGM at 8 am? Is it not too early a time to enable shareholders to attend the meeting, especially those who are travelling from outstation. For all intents and purposes, they would have to arrive the previous day and stay overnight to be able to attend the 8am AGM.
Why can’t the EGM be held on the same day immediately after the AGM or in the afternoon instead of having it on the following day? This means that the shareholders would have to stay overnight again just to attend the EGM. That is two nights stay at the expense of the shareholder.
We are unsure if public transport is available to and from the general meeting venue scheduled in Ulu Tiram. If indeed unavailable, it may further inconvenience the shareholders....