(Reuters) – Raymond Zage, an independent director of Japanese conglomerate Toshiba (OTC:TOSYY) Corp, will vote for a resolution seeking additional work towards a possible privatisation exercise, he said in a statement on Thursday.
The March 24 shareholder vote on Toshiba’s plan to split in half will be a key moment in a long-running battle between management of the once-mighty technology company and its growing number of foreign shareholders.
“Some level of additional information could be provided to shareholders for the purposes of comparing a potential privatisation with the potential value of the proposed spin off plan,” Zage said in the statement.
Source : Reuters