English

In Malaysia, minority shareholders of public listed companies (PLCs) comprise individuals, organisations, and institutions that own a non-majority voting power stake.

A minority shareholder is not necessarily a retail shareholder who comprises the ‘moms and pops’. Why, even an institutional shareholder holding a minority stake is technically a minority shareholder.

The following are the three fundamental rights of all shareholders:

• Right to seek information
• Right to raise and present views
• Right to seek redress

During a recently held AGM of a large PLC (a constituent of the FTSE Bursa Malaysia Top 100 Index or a company with a market capitalisation of RM2 billion and above), there were questions regarding the abrupt resignations of its three directors before the AGM.

As stated in the notice of AGM, the Board had endorsed recommendations from the Board NRC to re-elect three retiring directors who had offered themselves for re-election during the AGM. However, less than four weeks after the issuance of the notice of AGM and just ten days before the meeting, the Company made three separate announcements, all on the same day, in relation to the resignations of the three directors.