In a filing with Bursa Malaysia, Dagang Nexchange Bhd — the parent company of SilTerra and DSSB — said the dispute arises from a clause in a shareholders agreement that concerns SilTerra’s board of directors. TTCL is seeking, among others, declarations that the MWR and any of the disputed board appointments are illegal, null, void, and/or unenforceable. Part of the action taken was to strengthen the SilTerra board by bringing in experienced subject matter experts into the board. We have the right to nominate directors as a majority shareholder pursuant to SilTerra’s Constitution. However, TTCL is not seeking any orders or relief to remove the new board members in the said originating summons."

Source: The Edge Markets December 16, 2022 11:36 UTC