MC Payment’s controlling shareholder Ching Chiat Kwong has had his wish of appointing more directors to the board fulfilled.
See: Oxley's Ching seeks to appoint more directors to MC Payment's board
The results from the company’s extraordinary general meeting (EGM) held at 2.30pm on June 30, saw Ching’s five nominations – including himself – appointed to the board of directors.
The other four newly-appointed directors are Harry Ng Weng Sui, Shawn Ching Wei Hung, Rothschild Chee Kheng Hock and Tan Chee Keong.
The majority of MC Payment’s shareholders voted in favour of Ching’s five nominations with at least 71.9% of shareholders voting for Ching’s resolutions.
Shares in MC Payment last closed flat at 44 cents on June 29, before it called for a trading halt on the morning of June 30.
See more stories on MC Payment here.
In a filing on the evening of June 30, MC Payment announced that five of its existing directors have tendered their resignation following the results of the EGM.
The five are Albert Saychuan Cheok, Lillian Koh and Ong Kim Huat, Anthony Koh and Kim Moon Soo.
Of the existing directors, only Kesavan Nair remains.
Koh and Kim have also resigned from their positions as CEO and COO of the company. They will remain with the company till Dec 30 and Sept 30 respectively.