Asset Value Investors (AVI) Submits Shareholder Proposals to SK Kaken for the Fourth Year in a Row
Due to a lack of progress and the Fujii family’s refusal to engage in strategic discussion, AVI has put forward two proposals to SK Kaken’s AGM:
(1) The cancellation of 90% of the 2,192,425 shares held in treasury.
(2) Increase the dividend from
Two directors of an AVI managed fund plan to attend the AGM to directly challenge the Fujii family’s fiduciary failure and neglect of minority shareholders.
A presentation outlining AVI's rationale for changes and full details of the shareholder proposals is available on AVI's dedicated website www.paintingabetterSKKaken.com.
"We submitted shareholder proposals for the last three years, and despite receiving strong support, SK Kaken has failed to reduce its excess treasury shares nor address its overcapitalised balance sheet.”
AVI is calling on its fellow shareholders to continue to express their disapproval of poor management policies and continued weak performance under the control of the Fujii family.
About
AVI is an investment management company established in
View source version on businesswire.com: https://www.businesswire.com/news/home/20240605336428/en/
Source: