A shareholder with several million MC Payment shares is upset that a proxy form which was signed by the shareholder was used to oust directors from the board at an AGM held on April 28. “I did not indicate any votes for or against the resolutions in the proxy form as I thought the AGM was just to adopt the company accounts. I did not know I had to indicate my votes on the form,” the shareholder griped.

This is not unusual as shareholders have often been asked for proxies, for proxy form holders to observe AGMs, and many have not indicated how they would want the proxy holders to vote. Almost never would proxy holders vote against shareholders’ wishes.

The MC Payment shareholder said, “when I retrieved the form from Tricor, I discovered that the proxy form included votes in favour of resolutions 1,3, 5 to 9, but votes against resolutions 2 and 4.” 

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook