Shareholder Proposal for UK Fund Kirin to Sell Pharmaceutical Business
Kirin Holdings, a shareholder of beer giant Kirin Holdings, met at a meeting of investors and said that Kirin's strategy to diversify its business has not led to growth. We clarified our approach to focusing on our business.
Independent Franchise Partners, a UK investment fund, holds a stake of approximately 2% in Kirin Holdings, and has issued a shareholder proposal to sell Kirin's pharmaceutical and health businesses and concentrate on the beer business. I did it.
`` Kirin's pharmaceutical and health business has not been linked to the company's growth, and the company should raise its share price using the funds it sold, '' said investment fund Hassan Elsmary, CEO on Friday. He complained about the company's strategy.
In addition, at the Kirin General Meeting of Shareholders to be held later next month, he expressed his intention to work with other shareholders in order to realize the fund's proposal.
Kirin has decided to disagree with the fund's shareholder proposal, saying it was an "unrealistic proposal."