Is there any problem in counting voting rights at Toshiba shareholders' meeting? Trust bank investigates September 18, 21:13
At this year's general meeting of shareholders of Toshiba, it was found that the documents of overseas investment funds showing the approval or disapproval of the appointment of directors were not reflected in the vote even though they arrived within the deadline, and the administration of the general meeting Sumitomo Mitsui Trust Bank, which was undertaking the contract, decided to investigate whether there was a problem with the counting method at that time.
Toshiba's general meeting of shareholders was held on July 31st, and proposals such as the appointment of directors were discussed, but the approval or disapproval of the proposal of an overseas investment fund holding about 4% of the shares is reflected in the vote. It wasn't done.
At the request of Toshiba, Sumitomo Mitsui Trust Bank, which undertook the administration of the general meeting, confirmed the work at that time, and found that the document showing the pros and cons of the fund = "Voting Rights Exercise Form" arrived on the day of the deadline. Nevertheless, it turned out that the documents were accepted the day after the deadline was passed.
According to the trust bank, when the general meeting of shareholders was concentrated, the post office was asked to deliver the documents ahead of schedule in order to handle a huge amount of documents, and the acceptance date was the next day.
It is said that other companies have been using this counting method for about 20 years, but trust banks have decided to investigate in detail whether there are any legal problems.
Sumitomo Mitsui Trust Bank said, "We apologize for the great concern. We will consider the need for a review as soon as the investigation is completed," said Sumitomo Mitsui Trust Bank, which did not explain these measures to Toshiba. I will.
At this general meeting of shareholders, the proposals proposed by the company were approved by at least 57%, and the proposals proposed by shareholders were rejected by only 43% at the highest.
Toshiba states, "Even if the pros and cons of the fund are reflected in the vote, it will not affect the results."