KUALA LUMPUR: KNM Group Bhd's share price jumped as high as 20 per cent to nine sen after four shareholders served a notice to propose four names to be appointed as directors of the company at its upcoming annual general meeting (AGM) on June 6, 2024.
At midday, the company's share price closed 13.3 per cent higher at 8.5 sen a share, giving it a market capitalisation of RM343.9 million.
Some 101.4 million shares changedhands, making it the third most actively traded stock in morning trade.
On May 21, 2024 KNM received a written notice from Messrs. Cheang and Ariff, representing Tan Khye Yinn, Chang Hui Kee, Mah Wai Leon and Wang Hee Heng to propose the appontment of Wong Toh Sing, William H Vanvliet III, Wan Kamaruddin Wan Mohamed Ali and Sakthi Kumar Ramadas as directors of the company.
KNM is looking to re-elect seven directors at the upcoming AGM, including non-executive chairman Tunku Datuk Yaacob Khyra.
He has a 14.482 per cent indirect interest in the group.
In October 2023, a group of investors led by German billionaire Andreas Heeschen failed in their bid to vote out the current board of directors of KNM. Heeschen still owns a substantial 6.423 per cent in KNM.