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Transactions by members of senior management and Board of Directors in shares issued by Columbus A/S and related securities

Sumary of Transactions by members of senior management and Board of Directors in shares issued by Columbus A/S and related securities:

  • Sumary of Transactions by members of senior management and Board of Directors in shares issued by Columbus A/S and related securities:.
  • Delivered a stern rebuke to management, passing a resolution put forward by an overseas-based hedge fund to investigate the fairness of voting at the 2020 annual shareholders’ meeting.The proposal by Singapore-based Effissimo Capital Management, a secretive fund that is Toshiba largest shareholder, called for the appointment of independent investigators to probe voting at the company last AGM, where the fund says several investors were “unable to vote in a manner consistent with their intentions.”The success of the motion heaps pressure on Toshiba board — which has struggled to win investors’ confidence since an accounting scandal resulted in the sale of its crown-jewel memory-chip business — and also shows progress in a government-led push for better management and greater shareholder rights.Toshiba shares rose as much as 3.6% in Tokyo after the results of Thursday extraordinary shareholders’ meeting.A separate proposal by San Francisco Farallon Capital Management asking management to seek shareholder approval for how it uses capital was rejected…
  • But defeat for the board on Effissimo proposal puts chief executive officer Nobuaki Kurumatani, a company outsider from the banking sector appointed in the wake of the company tumultuous accounting scandals who barely won reelection in 2020, under pressure ahead of the next director elections to be held this summer.Voting IrregularitiesEffissimo, which was established by colleagues of the activist investor Yoshiaki Murakami, tried last year to have its co-founder Yoichiro Imai named to Toshiba board, along with other directors…
  • When that proposal was rejected and management own slate of directors appointed instead, it was seen as a setback for activists who sought more influence at the conglomerate after years of accounting scandals and business missteps.However, suspicion soon followed that the vote count had not been entirely above board…
  • In September, the Financial Times reported that Hiromichi Mizuno, the former chief investment officer of the Government Pension Investment Fund and a board member of Tesla, spoke to Harvard University endowment fund ahead of the vote, after which the fund abstained from voting.In a response to Bloomberg News, Mizuno questioned why people assumed Effissimo proposal refers to Harvard….

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