Toshiba General Meeting of Shareholders: Documents of Overseas Investment Funds Do Not Arrive and Are Not Reflected in Voting

Toshiba General Meeting of Shareholders: Documents of Overseas Investment Funds Not Reached, Not Reflected in Voting, September 2, 11:22 PM

At Toshiba’s general meeting of shareholders held in July, it was found that documents from overseas investment funds that expressed their support for the appointment of directors did not reach the company by the deadline and were not reflected in the vote. The investment fund mailed the documents three days before the deadline, and Toshiba is checking to see if there were any problems with the delivery.
Toshiba’s general meeting of shareholders was held on July 31st, and four proposals, including the appointment of directors, were consulted, but the evening of the previous day was due if shareholders voted in favor or against them on the Internet or by mail in advance.

According to Toshiba, some major shareholders mailed a “Voting Rights Exercise Form” to the company over the general meeting of shareholders, but it did not arrive by the deadline and was not reflected in the vote.

The major shareholder is an overseas investment fund that holds about 4% of Toshiba’s shares, and according to a study conducted by the company, about 1% of voting rights were mailed from Tokyo three days before the deadline.

The destination is also in Tokyo, and Toshiba and the trust bank that undersed the affairs of the general meeting of shareholders are checking to see if there were any problems with the delivery.

At the general meeting of shareholders, at least 57% of the proposals proposed by the company were approved, and the proposals proposed by shareholders were the highest, but only 43% were rejected.