(See Metronic Global revokes call for EGM to remove MNC Wireless directors)It, however, added that the board may reconsider similar proposals in the future in the event it considers expedient or necessary to do so accordingly. As at Oct 4, Metronic Global was the largest shareholder of MNC Wireless with a direct stake of 18.75%. To recap, Metronic Global sought the removal of the five directors in MNC Wireless, to be replaced by Nga Koo Koy, Eric Boon Chuan Kit, Ng Wee Peng, Tan Kian Hong and Raja Aida Jasmin Raja Shahrome, based on its filing in Oct 24. The exercise also included an employee share option scheme, increase in the authorised share capital of MNC Wireless and amendments to the memorandum of association. Metronic Global closed unchanged at 8 sen today for a market capitalisation of RM60.67 million, while MNC Wireless dipped 0.5 sen or 5.88% to settle at 8 sen for a market capitalisation of RM8.98 million,

Source: The Edge Markets November 08, 2016 12:26 UTC