ARC Capital has announced that 0n 24 December 2014 it received a requisition from Cielo Overseas Limited, an associate of PAG Holdings Limited requiring the Company to call a general meeting of ARC’s shareholders. At the meeting shareholders will be asked to vote on the appointment of three new directors and the removal of Helen Wong, Steve Feniger, and Tian-Cho Chu as directors of the Company.
ARC Capital says it is considering its next steps.
This looks like the next stage in the dispute between ARC Capital and its former manager. These votes need 50% of those voting to vote in favour if they are to succeed.
ARCH : ARC Capital requisition of shareholder meeting