KUALA LUMPUR: Practice Note 17 company KNM Group Bhd, has issued a statement claiming that Datuk Seri Mahmud Abu Bekir Taib, a new substantial shareholder of the company, is in support of Tunku Datuk Yaacob Khyra and the current board of KNM Group.
On Monday, KNM announced that Mahmud Abu Bekir acquired a 5.031 per cent interest in the company.
"I have the fullest confidence in the current board of directors under the strong leadership of Tunku Yaacob. They have formulated a very strong sound plan for KNM Group Bhd," KNM Group quoted Mahmud Abu Bekir as saying in the statement.
"This is unequivocal support for Tunku Yaacob and the current KNM Group's management and board of directors.
Any statement otherwise by any other party is willful, and a deliberate attempt to mislead KNM Group shareholders," KNM Group said, while thanking Mahmud Abu Bekir for his unflinching support and confidence.
KNM group shareholders are due to vote on October 16, 2023 at an extraordinary general meeting (EGM) requisitioned by German billionaire Andreas Heeschen to remove the current board of KNM Group, led by Tunku Yaacob.
The main players from both sides of the divide have raised their interest in KNM Group, in an effort to come up on top at the EGM.
Heeschen recently upped his stake to 8.249 per cent, while Tunku Yaacob now holds a 9.5 per cent interest in the group.
KNM's share price was up nine per cent at 12 sen as at 2.54 pm.