Silchester International Investors of the UK petitioned the Tokyo District Court to call an extraordinary general meeting of shareholders and requested that proposals including the dismissal of the former president as a director, a special dividend and a share buyback be presented. The District Court confirmed receipt of the petition dated the same day.
The UK-based fund Silchester petitioned the Tokyo District Court to call an extraordinary general meeting of shareholders of MEDIPAL HOLDINGS CORPORATION. In response, MEDIPAL Holdings said it was continuing to consider arrangements for holding the extraordinary meeting.
As background to the petition, the fund had requested in September that an extraordinary meeting be held and that proposals for the dismissal of the former president as a director, a special dividend and a share buyback be included on the agenda.
The record date for calling the extraordinary meeting had been set for the 31st, but the company is continuing to consider its response. The District Court's confirmation that it had received the petition has drawn attention to future developments.