ASMC (3355): shareholders veto general issue mandate

This is a Chinese company, so the mandate to dilute shareholders requires a special resolution (2/3 majority) unlike the laxer HK requirement (ordinary resolution, 50%). They only got 59.9%, so the proposal was vetoed. It looks like NXP B.V. (the private equity consortium) was the main vote against. They have 408,806,888 shares at the last disclosure.

Organisations

Advanced Semiconductor Manufacturing Corporation Limited 上海先進半導體製造股份有限公司

Topics

Pre-emption rights/ general mandate

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