FORMER Rex Airlines chief Lim Kim Hai has sensationally moved to have four directors removed from the board, including longstanding leader John Sharp.
In an update to the ASX this week, Rex’s parent group, Regional Express Holdings, confirmed that Lim, who had only stepped down from the CEO role in early June had exercised his right as a more-than 5% shareholder to call for a general meeting to remove directors and appoint fresh faces on the board.
Under sections 203D and 249D of the Corporations Act 2001, Lim wants to remove John Sharp, Lee Thian Soo, Ronald Bartsch, and Jim Davis as directors, and instead appoint Lim Kang Song and Mukul Soul to the board.
Little is known about Song and Soul at this stage.
Lim has also requested that any person appointed director of the company on or after 05 July until the end of the general meeting,
other than Song or Soul, be removed from the board.
The major development follows a big board shake-up for Rex in June, which saw Lim step down from the CEO position and Neville Howell take control, who had been the COO for 10 years.
In the update in June, it was noted that Lim would remain as a Non-Executive Director and a major shareholder in the airline.
When contacted by travelBulletin for comment, Rex declined to add anything further to the ASX update.
Rex said it would comply with the general meeting request made by Lim and update the market in due course.
The latest developments also follow Rex having to respond to ASX inquiries in May about why the company did not disclose Lim’s brother-in-law relationship to Thian Tjoa during its purchase of NJE in 2022.
