Lysaght rejects director nomination notices

PETALING JAYA: Lysaght Galvanized Steel Bhd has rejected the nomination notices from two separate shareholders to appoint directors at the forthcoming AGM, to be be held on June 22.
In a filing with the stock exchange, Lysaght said the rejection was made after deliberation by its board of directors and taking into consideration a legal opinion, which opined that the notices submitted by the two shareholders were not valid.
"Accordingly the persons being nominated in the notices will not be eligible for election as directors and their nominations will not be tabled at the forthcoming 36th AGM," it noted.
Lysaght added that the decision was made after a vote where three directors voted in favour, two directors against and another two directors had abstained from voting.
The company had on June 9 and June 10 received the notices dated June 4 and June 1 from its two shareholders respectively.
The counter dropped 22 sen or 5.5% to RM3.78 yesterday on some 23,600 shares done.