NutryFarm International (SGX:AZT) has received a notice and demand letter from shareholders holding not less than one-tenth of the company's shares, for the immediate removal of chief executive officer Niu Liming from all executive positions.
The shareholders have cited the independent directors' fiduciary duties, including protection of minority shareholder interests, and have requisitioned a special general meeting for the immediate removal of the CEO.
Meanwhile, the agriculture company is reviewing all linked allegations and will release disclosures at an appropriate time.
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