Reported 7 months ago
Kormax, a major shareholder of Yih-Tai, is initiating shareholder activism in Taiwan to protect shareholder rights by opposing five proposals at Yih-Tai's upcoming shareholders meeting, including the amendment of the dividend policy from a cash payout ratio of 30% to 10%, which they argue severely impacts shareholder rights. Foreign shareholder representative Allen Wang expressed support for shareholder activism and emphasized the importance of prioritizing shareholder interests in board decisions. Wang's proposal gained 30.37% approval from shareholders, a significant achievement compared to other Asian countries like Japan or South Korea. Foreign institutional and domestic investors supported the proposal, highlighting the core spirit of shareholder activism in promoting shareholder interests. (Source: SETN, June 12, 2024)
Source: YAHOO