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Raffles Interior Ltd. ( (HK:1376) ) has shared an announcement.
Raffles Interior Limited has received a second requisition notice from shareholder Han Vision Holding Limited, again demanding that the board convene an extraordinary general meeting to vote on resolutions aimed at removing certain existing directors and appointing new ones. The board notes the second notice contains the same proposed resolutions as the earlier requisition and says it is proceeding to arrange a single extraordinary general meeting to address the shareholder’s demands. Separately, controlling shareholder and director Zheng Nenghuan has filed originating summons proceedings in the Cayman Islands seeking extensive disclosure of board papers, announcements, legal claims, financial records and contracts from 10 September 2024 onward, arguing that such information is necessary for him to fulfil his duties as a director and asking the court to order the company to cover his costs. The moves underscore a deepening governance dispute within the company and introduce legal uncertainty that could affect board dynamics, ongoing investigations by an independent board committee, and overall management stability for investors and other stakeholders.
The most recent analyst rating on (HK:1376) stock is a Hold with a HK$0.08 price target. To see the full list of analyst forecasts on Raffles Interior Ltd. stock, see the HK:1376 Stock Forecast page.
More about Raffles Interior Ltd.
Raffles Interior Limited is a Hong Kong-listed company incorporated in the Cayman Islands, operating through its subsidiaries under the group structure. It is overseen by a board of directors and has a controlling shareholder, reflecting a typical listed-corporate governance setup subject to Hong Kong’s Listing Rules and securities regulations.
Average Trading Volume: 4,354,400
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$110M
For a thorough assessment of 1376 stock, go to TipRanks’ Stock Analysis page.