Fujitec Co., Ltd.: Notice Concerning the Board of Directors’ Position on the Agenda Item to be Submitted by the Company and Agenda Items Proposed by a Shareholder for the Upcoming Extraordinary General Meeting of the Shareholders

Rhea-AI Summary

Fujitec Co., Ltd. has received a shareholder request from Oasis Japan Strategic Fund Ltd. to convene an Extraordinary General Meeting (EGM) on December 31, 2022. During a board meeting on January 20, 2023, the company resolved to submit its own proposal as Agenda Item 1 while opposing all proposals from the Proposing Shareholder, listed as Agenda Items 2 through 7. This decision indicates a stance against the changes suggested by the Proposing Shareholder. Further details on the Company’s Position and the opposing opinions are available on its website.

Positive

• The board's resolution to submit its own proposal reflects a proactive approach to shareholder engagement.

Negative

• The opposition to all proposals from the Proposing Shareholder may indicate potential conflicts and governance issues.

HIKONE, Japan--(BUSINESS WIRE)-- Fujitec Co., Ltd. (TOKYO:6406):

We disclosed in the “Notice Concerning a Shareholder’s Request for the Convocation of Extraordinary General Meeting of the Shareholders” dated December 6, 2022, that the Company received a request from Oasis Japan Strategic Fund Ltd. (the “Proposing Shareholder”) to convene an extraordinary general meeting of the shareholders (the “Request”) (*). We hereby notify you that the following resolutions, which will be included as agenda items at the upcoming special meeting of the shareholders with a record date of December 31, 2022 to exercise their voting rights (the “Extraordinary General Meeting of the Shareholders”), were adopted at the board of directors meeting on January 20, 2023. The board has resolved that the Company’s proposal (Agenda Item 1) shall be submitted, and that, after careful consideration, all of the Proposing Shareholder’s proposals (Agenda Item 2 through Agenda Item 7), shall be opposed (the “Opposing Opinion”) during the Extraordinary General Meeting of the Shareholders.

For details and further information regarding Company’s Position and the Opposing Opinion, please refer to the separate presentation materials that are disclosed on the Company’s website.

Please see our presentations for more information
https://www.fujitec.com/announcement/3082

View source version on businesswire.com: https://www.businesswire.com/news/home/20230203005151/en/

Fujitec Co., Ltd.

ir@jp.fujitec.com

 

Source: Fujitec Co., Ltd.

FAQ

What is the significance of the Extraordinary General Meeting for Fujitec Co., Ltd. on December 31, 2022?

The Extraordinary General Meeting allows shareholders to vote on the company's proposals and the opposing proposals from Oasis Japan Strategic Fund Ltd.

What were the outcomes of the board meeting on January 20, 2023, regarding the shareholder's proposals?

The board resolved to submit its own proposal and oppose all proposals from the Proposing Shareholder during the upcoming Extraordinary General Meeting.

How might the conflicts from the shareholder meeting affect Fujitec Co., Ltd.'s stock symbol FJTCY?

Conflicts during the shareholder meeting could lead to volatility in stock performance if investors perceive governance issues negatively.