Trending...
- From Real Estate to Reel Power: H.L Woods Carves His Legacy as a Cutting-Edge Visionary Filmmaker
- SacraPod Suites Unveils AI-Powered 'Work + Rest' Smart Hospitality Model for Retrofitting Underused Motels Across the U.S
- Airwavz Solutions Appoints Monte Dube to Market Advisory Board to Strengthen Healthcare Wireless Strategy
CHICAGO--(BUSINESS WIRE)--RMB Capital ("RMB"), a Chicago-based independent investment advisory firm, is a long-term shareholder of Faith Ltd. (4295 JP, "Faith") and owns approximately 10% of the firm's total outstanding shares.
The Kyoto District Court ("the Court") confirmed the validity of RMB's shareholder proposal to spin-off Nippon Columbia ("the Proposal") at the 29th annual general shareholders' meeting at Faith, scheduled for June 2021 ("the AGM"). The court's ruling was issued on the petition for provisional disposition filed by RMB in May. The Court declined RMB's request to add the Proposal at the AGM due to time constraints, however.
The Court's ruling confirms that Faith's board has unfairly refused to include the Proposal and that the board's decision is inappropriate and unlawful and suppresses shareholders' opportunity to discuss this important managerial decision at the AGM. RMB believes the Court's decision implies Faith's board completely lacks a law-abiding spirit and effective corporate governance system, both of which need to be addressed immediately to protect the interest of minority shareholders. Further, RMB demands that Faith's independent directors investigate the board's decision-making process in rejecting the Proposal, then disclose the details of that investigation to the shareholders immediately.
More on illi News
RMB hopes to realize the spin-off IPO of Nippon Columbia and improvement in the compliance and corporate governance system at Faith through the nomination of the outside director proposed by RMB as the AGM item # 4, on which RMB once again calls for minority shareholders to support, along with item # 3 (share repurchase proposal).
Please refer to Faith Activism for RMB's past press releases.
About RMB Capital
Headquartered in Chicago, RMB Capital is an independent investment advisory firm that serves high-net-worth individuals and families as well as institutional investors. Its businesses include wealth management, family office services, asset management, and retirement plan consulting. Its asset management business specializes in long-term, concentrated, active investing strategies with coverage that spans the market-cap spectrum and the globe. To learn more about RMB, visit https://rmbcapital.com.
The Kyoto District Court ("the Court") confirmed the validity of RMB's shareholder proposal to spin-off Nippon Columbia ("the Proposal") at the 29th annual general shareholders' meeting at Faith, scheduled for June 2021 ("the AGM"). The court's ruling was issued on the petition for provisional disposition filed by RMB in May. The Court declined RMB's request to add the Proposal at the AGM due to time constraints, however.
The Court's ruling confirms that Faith's board has unfairly refused to include the Proposal and that the board's decision is inappropriate and unlawful and suppresses shareholders' opportunity to discuss this important managerial decision at the AGM. RMB believes the Court's decision implies Faith's board completely lacks a law-abiding spirit and effective corporate governance system, both of which need to be addressed immediately to protect the interest of minority shareholders. Further, RMB demands that Faith's independent directors investigate the board's decision-making process in rejecting the Proposal, then disclose the details of that investigation to the shareholders immediately.
More on illi News
- READY FOR NEW BUILDS – Pond & Waterfall Construction Season Starts Now!
- Generic Trade Marks 15 Years of Leveling the Trading Field for all Futures Traders
- HeyGears Achieves Breakthrough in Multi-Material Resin 3D Printing, Overcoming Bottlenecks in Dental Manufacturing
- Levata Acquires Logiscenter to Accelerate Growth in Enterprise IT and Data Capture Solutions
- Smart Resnse Unveils Smart Resnse(SRMS) Token-Powered AI Orchestration Platform to Revolutionize Multi-Billion Dollar Market
RMB hopes to realize the spin-off IPO of Nippon Columbia and improvement in the compliance and corporate governance system at Faith through the nomination of the outside director proposed by RMB as the AGM item # 4, on which RMB once again calls for minority shareholders to support, along with item # 3 (share repurchase proposal).
Please refer to Faith Activism for RMB's past press releases.
About RMB Capital
Headquartered in Chicago, RMB Capital is an independent investment advisory firm that serves high-net-worth individuals and families as well as institutional investors. Its businesses include wealth management, family office services, asset management, and retirement plan consulting. Its asset management business specializes in long-term, concentrated, active investing strategies with coverage that spans the market-cap spectrum and the globe. To learn more about RMB, visit https://rmbcapital.com.
Filed Under: Business
0 Comments
Latest on illi News
- Easton & Easton, LLP Files Suit Against The Dwelling Place Anaheim & Vineyard USA Over Abuse Allegations
- AI Visibility: The Key to Beating Google's AI Overviews and Regaining Traffic
- Stuck Doing Math or Figuring Out Life's Numbers? Calculator.now Makes It Stupidly Simple
- National Van Lines Acquires First National Van Lines Domain to Streamline Branding
- Colbert Packaging Announces WBENC Recognition
- Echo Global Logistics Wins Inbound Logistics' #1 3PL for Ninth Year in a Row
- DivX Empowers Media Enthusiasts with Free Expert Guides for Advanced MP4 Management
- Whirlpool Brand and Premier Lacrosse League Announce Chicago River Stunt in Celebration of the League's Highly-Anticipated Return
- Assent Expands Executive Team to Accelerate Global Growth & Innovation
- The World's Largest Green Economic Revolution Emerges as Nature, Tech, and Finance Converge
- Jungbunzlauer Showcases Bioavailable Mineral Innovations for Gummies at IFT FIRST 2025
- Vinnetwork Unveils Decentralized AI Platform with Vinnetwork(VIN) Token to Challenge Tech Giants' Data Monopoly
- Centennial Flyers to Become Colorado's First Launch Customer for All-Electric B23 Energic Aircraft
- Revenue Valve Tells Why Visual Storytelling Is the Secret Weapon for Healthcare Nonprofits
- Pyro Marketing Opens New Digital Marketing Company in Saint Petersburg to Power Growth for Fitness and Ecommerce Brands
- Dr. John Salerno of Salerno Wellness Introduces Their New Full Body Capsule for Advanced LED Light Therapy Patient Treatments
- Digi 995 Expands Its Universe: All Three Novels Now Available in Paperback Worldwide
- Chicago: Mayor Brandon Johnson on Track to Hit Summer Youth Employment Goal with Almost 29,000 Young People Hired for Third Consecutive Year of Expanded Opportunities
- $14M Expansion Deal with Famed David Lloyd Highlights Rebrand of Sports, Entertainment and Gaming Innovation by AI Driven, Online Fan Engagement Co
- Heartfelt Dreams Foundation Launches Campaign to Build CHD Hospital