Two Addvalue Technologies independent directors resign

The company said the move came as a “surprise” to its board.

Two independent directors of Addvalue Technologies, Chua Chwee Ko and Goh Liang Choo, will step down with effect on 26 October and 15 November, respectively.

According to Addvalue, a group of shareholders representing more than 11% of the shares in the company requested Koh and Choo to tender their resignations.

The company did not disclose if the shareholders had indicated why.

Addvalue says its board was “surprised” as both Chua and Goh have the “full confidence” of the board, and they have contributed significantly since their appointments.

CEO Tan Khai Pang and non-executive chairman Richard Denny separately invited the shareholders to a meeting, but according to the company, they turned down both invitations.

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