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MAINBOARD-LISTED Pavillon Holdings : 596 0% has been asked to hold an extraordinary general meeting (EGM) for the purpose of ousting the executive chairman and an independent director from the board.

 

Previously named Thai Village Holdings, the company said in a bourse filing on Thursday (Jul 14) that a letter from Seven Star Capital, signed off by Zheng Fengwen, is requisitioning the meeting to strip the executive chairman John Chen Seow Phun and independent director Ko Chuan Aun of their directorships.

 

The letter also calls for the company, which is in the business of restaurant operations, franchising and financial leasing, to appoint Zheng, the largest shareholder and former executive director of Pavillon, and major shareholder Teo Kiang Ang as director and executive chairman respectively at the EGM.

 

Teo, the founder of taxi operator Trans-Cab and bottled cooking gas supplier Union Gas, owned 8.9 per cent of Pavillon as at Jul 5 Zheng held 25.8 per cent of the company as of March, said the Singapore Exchange website.

 

Pavillon said the company is consulting lawyers on the validity of the request. Its share price closed flat at S$0.041 on Thursday before this announcement.