TAKE for instance the recent shareholders vote at Revenue Group Bhd, where neither the SC nor Bursa Malaysia had thought it to be reasonsanable to bar Teh Chee Hoe and Leong Seng Wui , the two executive directors in the company from casting their votes. VIEW: Revenue Group Bhd statement on the vote to sell Innov8tiv to Datasonic Bhd
THE duo each owning around five per cent of the company had accounted for 87.36 per cent of the YES votes to allow Revenue Group to sell Innov8tif Solutions to Datasonic Bhd.
THIS 87.36 per cent, represented approximately 60.701 million shares, where by approximately 68.894 million shares had been involved in the entire voting exercise .
SO if you strike off the shares owned by Teh Chee Hoe and Leong Seng , from Revenue Group's paid up Capital base of 605 million shares, you will come up with a grand total of 544.429 million shares .
BASICALLY the 8.08 million shares not owned by the duo, divided by 544.429 million shares, translates to only 1.48 per cent of the minority shareholders actually participating in the voting exercise.
WHERE did the 98.5 per cent of the other shareholders go to? Can the will of 1.48 per cent of minority shareholders speak against the silent majority?
AS to why Teh Chee Hoe should not only have been barred from voting but also be charge in a criminal court.. just go READ :why teh chee hoe must be charged for a jailable offence