◆May 27th, 2024
INTERTRUST TRUSTEES (CAYMAN) LIMITED SOLELY IN ITS CAPACITY AS TRUSTEE OF JAPAN-UP and Strategic Capital, Inc. (hereinafter referred to as the “Strategic Capital”) holds approx. 32% of the voting rights of DAIDOH LTD. (hereinafter referred to as “DAIDOH”).
We previously informed you on April 17, 2024 that given Daidoh’s current management team has continued to undermine shareholder value, we proposed the appointment of six new Directors at the upcoming AGM to replace them.
In response, Daidoh release a mid-term business plan on May 20th, and in a press release on May 24th titled “Notice of the Receipt of a Shareholder Proposal in Written Form and the Opinion of the Board of Directors” (Japanese only), announced that five of the six current directors, excluding Keiichi Shirokoda, will retire from the Board, and that it will propose the appointment of five new Directors for the upcoming AGM.
After receiving the notice, Strategic Capital met with one of Daidoh’s proposed candidates for Representative Director and have the concerns that the proposals made by Daidoh would significantly undermine shareholder value and the six Directors proposed by Daidoh would only tacitly endorse those proposals. Therefore we are opposed to all six Directors proposed by Daidoh and instead are in favor of the six Directors proposed by Strategic Capital.
Please see the below link for more details.
Candidates for the Board of Directors proposed by DAIDOH LTD (3205)
