BIGLARI HOLDINGS INC.
NYSE: BH Meeting Date: 04/09/2015
Having made a name for himself as a combative investor, Sardar Biglari may finally get a taste of his own medicine this proxy season. The weeks leading up to the contested annual meeting for Biglari Holdings Inc. have been punctuated by allegations of failure from both the company and Groveland Capital LLC, the dissident shareholder which has nominated six of its own candidates to take over Mr. Biglari’s namesake company.
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OTSUKA KAGU LIMITED
Tokyo Stock Exchange: 8186 Meeting Date: 03/27/2015
A father-daughter family quarrel over the strategic direction of the Company has resulted in a very public fight and a contested shareholder meeting – a rarity in Japan.
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SUNTORY BEVERAGE & FOOD LTD.
Tokyo Stock Exchange: 2587 Meeting Date: 03/27/2015
Suntory will be one of the first Japanese companies to seek shareholder approval to shift from a two-tier board to a one-tier board with one committee (specifically, the board of directors and an audit committee), which is a newly introduced board structure under the 2015 amended Companies Act. With over 25 Japanese companies already announcing an intention to shift to this structure, this could be an important developing trend for shareholders to keep an eye on in 2015.
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Istanbul Stock Exchange: TCELL Meeting Date: 03/26/2015
Minority shareholders in Turkcell have endured a state of extended suspense since 2010 due to a protracted, complicated three-way battle between the Company’s majority shareholders leaving everyone wondering who controlled the Company. Since 2011, Turkcell has been unable to convene a general meeting due to lack of quorum as the majority shareholders refrained from attending during their legal disputes. At the 2015 annual meeting, shareholders will be asked to approve each of the necessary items that could not be approved since 2010. The dividend proposals for fiscal years 2012 through 2014 remain glaringly blank, as does the proposal to elect directors, showing that even the entirely new board appointed by regulatory authorities has been unable to resolve these pressing concerns. Absent clarification, one might conclude that lingering disputes between the significant shareholders and/or other stakeholders appear to create ongoing gridlock.
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SVENSKA HANDELSBANKEN AB
NASDAQ OMX Stockholm: SHB-A Meeting Date: 03/27/2015
Shareholders are undoubtedly aware of the eventful year for the individuals managing Industrivärden’s Swedish business empire, including directors and top management of Svenska Handelsbanken
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