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2 Independent Consultancies Suggest GIORDANO INT'L Shareholders to Vote Against CTF's 7 Motions
Recommend 9 Positive 22 Negative 8 |
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GIORDANO INT'L (00709.HK) will hold an EGM on 3 April, at which votes will be cast on whether to remove Peter Lau from his current company chairman and CEO posts. Independent voting consultant ISS issued a report recommending shareholders to vote against all 7 resolutions proposed by CHOW TAI FOOK (01929.HK) at the meeting. The report also reminded shareholders to focus on whether CTF has made a compelling case that the changes are necessary, and if so, whether CTF's proposed candidates are more suitable than the existing directors. Another consultancy, Glass Lewis, also concluded that GIORDANO's major shareholders made no case for the removal of the directors at all. It similarly advised shareholders to oppose CTF's proposed motions. CTF had proposed earlier 7 resolutions, including the removal of Peter Lau as executive director and CEO, the appointment of Colin Currie, former general manager of Adidas in APAC and Greater China, as the new CEO, as well as the appointment of four new directors to the board, including Sonia Cheng and Christopher Cheng, the eldest daughter and third son of CTF chairman Henry Cheng, as non-executive directors. AAStocks Financial News |
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