RLF AgTech Ltd (AU:RLF) has released an update.
RLF AgTech Ltd is facing an internal shakeup as key directors have called for a shareholder meeting to remove founder Kenneth Hancock from the Board amidst accusations he vigorously denies. Hancock, who was abruptly terminated as CEO and Managing Director without detailed explanation, disputes the legitimacy of his termination and warns of potential destabilization for the company’s China operations and relationships. Shareholders have been alerted to potential ulterior motives behind the conflict, linked to disagreements over business strategy and a significant downturn in the South-East Asia business’s revenue.
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