U.S. investment firm ValueAct formally requested that 宝HD convene an extraordinary general meeting and proposed removing the 3 current outside directors and electing 3 new directors. 宝HD said it would carefully review the proposals and disclose its response promptly once it has determined its policy.
U.S. investment firm ValueAct Capital formally requested that 宝ホールディングス convene an extraordinary general meeting. Its proposals call for the removal of the 3 current outside directors and the election of 3 new directors.
ValueAct currently holds approximately 20% of 宝HD's shares and has publicly called for a strategic review and stronger oversight of management for many years.
It has been disclosed in large-shareholding reports that Hong Kong investment fund Oasis Management holds approximately 5.09% of 宝HD's shares.
宝HD said it would carefully review the request and disclose its response policy in due course.