Dalton Investments Submits Shareholder Proposal to Macnica Holdings
December 22, 2022 at 09:30 am IST
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On December 22, 2022, Dalton Investments LLC announced that it had submitted a notification to Macnica Holdings Inc. with the following proposals. According to circumstances, i) Change in the composition of board members to appoint an independent board member who respects the opinion of general minority shareholders and seek a more transparent management system in order to avoid a potential conflict of interest, ii) Change in dividend policy, such as, dividend increase to imporove stock value and a change to capital policy, such as, share repurchase, iii) In addition, there is a possibility of making an important proposal regarding any reasonable actions that the submitter believes will lead to the improvement of shareholder value.
Macnica Holdings Inc, formerly Macnica Fuji Electronics Holdings Inc, is a Japan-based company mainly engaged in the sale of integrated circuits, electronic devices and network-related products. The Company operates through two segments. The Integrated Circuits, Electronic Devices & Other segment is involved in the sale of integrated circuits and electronic devices. The Network segment is involved in the sale of network-related hardware, software and services.