Atlantis Japan reports that 56.27% of the votes cast on the poll were against LIM’s Resolution, which sought to instruct the Board to put to shareholders proposals for the restructuring and/or liquidation of the company. Accordingly, LIM’s Resolution was not passed.
Noel Lamb, Chairman of Atlantis Japan Growth Fund, said: “The vote against the resolution comprised the majority of our largest shareholders as well as a significant number of smaller shareholders, including private individuals, who have clearly shown that they want to remain invested in the company under the management of Taeko Setaishi.
We would ask all Shareholders to respect the outcome of the meeting and allow us to continue to implement our strategy for improving the company’s performance, further narrowing the share price discount and growing the company over the next three years.
Taeko Setaishi, who was appointed lead fund manager with effect from 1 May 2016, is a great asset to the company and we look forward to her conviction-led, bottom-up stock selection process delivering returns for all shareholders.
The Board is confident that our strategy for improving performance, narrowing the share price discount and growing the company will be successful. Nevertheless, shareholders will be given the opportunity to vote on whether or not the company should continue at the AGM in 2019. In the meantime, on behalf of the Board, I’d like to reaffirm our commitment to maintaining a regular dialogue with shareholders and to acting in the best interests of shareholders as a whole.”
AJG : LIM’s proposals for Atlantis Japan rejected