◆June 18th, 2024
INTERTRUST TRUSTEES (CAYMAN) LIMITED SOLELY IN ITS CAPACITY AS TRUSTEE OF JAPAN-UP and Strategic Capital, Inc. (hereinafter referred to as the “SC”) holds approx. 32% of the voting rights of DAIDOH LTD. (hereinafter referred to as “DAIDOH”).
DAIDOH is in financial difficulties, and SC has proposed the election of six new directors to replace the current management team at the upcoming AGM on June 27.
In response, DAIDOH countered with a proposal to appoint its own slate of five new directors (four of whom are from outside the company).
DAIDOH has been approaching shareholders in an attempt to get its proposal passed.
Our opinion on their action is as follows.
