CROWNICORP (00727) announced that on December 10, 2024, the company received a request from one of its major shareholders...
According to information from Zhichuang Finance APP, CROWNICORP (00727) announced that on December 10, 2024, the company received a request from one of its major shareholders to immediately suspend the duties of Executive Director Mr. Chen Yuzhan and to convene a special meeting of shareholders to remove Mr. Chen Yuzhan from the Board of Directors. Mr. Chen Yuzhan concealed his bankruptcy order dated March 4, 2002, from the Board, and this information must be disclosed under Listing Rule 13.51(2)(i).
Considering this a matter of integrity, the Board of Directors decided at the meeting held on December 11, 2024, to temporarily suspend all duties and powers of Mr. Chen Yuzhan as Executive Director, effective from the end of the Board meeting until further notice. The Board believes that suspending Mr. Chen Yuzhan's duties and powers is in the best overall interest of the company and shareholders.