The majority shareholder of Seaunion Holdings has proposed to replace all directors after acquiring 25.8 per cent of the company. Director Gregory Sirols said the company received the restructuring proposal from HKSCC Nominees on June 12. New Concept Technologies International, through HKSCC, bought more than 770 million shares of Seaunion to become the largest single shareholder. New Concept also proposed the number of directors be reduced from 12 to six. Seaunion staged a turnaround from a $5.3 million loss in 1994 to a $928,000 profit last year, with turnover rising from $6.9 million to $13.2 million.