Shanghai Land Holdings' receiver may seek court direction over the appointment of an additional independent non-executive director to comply with a listing rule.
The firm's shareholders yesterday voted to re-elect two independent non-executive directors - Mok Chiu-kuen and Ronald Ho Yau-hoo - at the annual general meeting of the firm once controlled by jailed businessman Chau Ching-ngai.
However, an extraordinary general meeting scheduled for yesterday to appoint a third mandated independent non-executive director was called off after executive director Jiang Dong Liang objected to the nomination of two candidates and threatened to apply to the court for an injunction, according to a company announcement.
The firm is expected to appoint the third independent non-executive director on or before February 10.
A company source said Mr Jiang objected to the receiver's nominations wanting instead to make his own recommendation to the post of independent non-executive director.
Receiver Stephen Liu Yiu-keung yesterday said the receiver would first seek to resolve the appointment of the third director through talks with the board of directors.
