KUALA LUMPUR (July 8): Silver Ridge Holdings Bhd has received an extraordinary general meeting (EGM) requisition from two shareholders to remove eight of the group's 10 directors.

The June 26 notice was served by Jonathan Chong Teik Cheh and Chow Ai Yuen, who claim to jointly hold a 23.18% stake in the company, Silver Ridge said in a filing with Bursa Malaysia today.

The directors the duo are seeking to remove include independent chairman Datuk Samsudin Abu Hassan, chief executive officer Satila Mohd Suhaimi, deputy managing director Syakur Mohd Suhaimi and executive director Wong Chee Keong.

The two shareholders are also seeking to remove non-independent non-executive director Voon Zhe Lin, and independent non-executive directors Mohd Zahari Osman, Muhammad Hiqmar Danial Hidzir and Syauqat Mohd Suhaimi.

At the same time, Chong and Chow are also seeking the appointment of Chong, 55, as a director of the company with immediate effect.

They have also proposed the appointments of Kuruparan Puvanesan, Viswanathan Sankaran and Brunos Solinas as independent directors for the company.

Chong, who emerged as Silver Ridge's substantial shareholder via private placement in December 2018, has further increased his shareholding this year.

He raised his stake by 2.78% to 19.36% from 16.58% via the accumulation of 6.24 million shares.

Shares in Silver Ridge closed unchanged at 35 sen today, giving the group a market capitalisation of RM54 million.