Convoy AGM ends well after EGM chaos

Staff reporter

Convoy Global (1019) held an annual general meeting and completed the voting process yesterday, despite the third-largest shareholder applying for an injunction to suspend the meeting.

This came after 18 intruders tried to break into its extraordinary general meeting venue Wednesday, Convoy said yesterday.

The intruders were arrested, it added.

Wednesday's EGM vetoed the proposal to restructure the board by appointing Kaisa Group (1638) executive director Kwok Hiu-kwan, real estate and construction sector lawmaker Abraham Shek Lai-him and former commerce and economic development secretary Frederick Ma Si-Hang.

Chairman Johnny Chen Chi-wang and chief executive Ng Wing-fai will continue as directors.

Convoy also disqualified the voting rights of Kwok, Chen Peixiong, a former top manager at Kaisa, and shareholder Wang Pengying.

Kwok holds a 29.9 percent interest in Convoy.

Chen, who holds a 7.3 percent stake, said the high court granted an injunction to suspend yesterday's annual general meeting as Convoy is under investigation by the Financial Reporting Council.

However, a Convoy spokesman said the company has not received the injunction and finished the voting process smoothly.

Trading of Convoy Global (1019) has been suspended since December 2017 due to fraud allegations against former director Cho Kwai-chee.