KUALA LUMPUR: Tengku Datuk Sri Uzir Tengku Ubaidillah and Tengku Datuk Indera Zubir Tengku Ubaidillah have resigned from the board of Citaglobal Bhd effective yesterday.
The company noted that both individuals had resigned to pursue their personal interests.
Before the resignation, Tengku Uzir was the executive vice chairman of Citaglobal, while Tengku Zubir was the company's executive director.
Tengku Uzir was first appointed as the executive chairman and chief executive officer (CEO) of Citaglobal on October 24, 2013.
He was then redesignated as executive chairman on November 1, 2017, when his brother Tengku Zubir became group chief executive officer.
On May 14, 2020, he was redesignated as executive vice chairman when Tan Sri Mohamad Norza Zakaria became the company's new executive chairman and president on the same date.
Meanwhile, Tengku Zubir was appointed as the CEO on November 1, 2017.
He resigned on August 18, 2020, from the position and was redesignated as the executive director on the event date.
On September 15, Tengku Uzir disposed of 32.1 million shares, leaving him with a direct stake of 4.26 million shares, or 0.4 per cent.
He continued to have a 30 million, or 2.8 per cent stake in the Citaglobal irredeemable convertible preference shares.
Tengku Zubir also disposed of 700,00 shares on September 20, leaving him with a direct stake of 2.07 million shares, or a 0.2 per cent stake.
The 32.1 million shares disposed of by Tengku Uzir were acquired by the Yang di-Pertuan Agong Al-Sultan Abdullah Ri'ayatuddin Al-Mustafa Billah Shah.
The King has recently raised his stake to 12.44 per cent, or 132.12 million shares, from the previous nine per cent.