JAL Reaffirms Support for Shareholder Proposal at AGP, Declines Pre-AGM Meeting
Japan Airlines (JAL) has reaffirmed its support for a shareholder proposal at AGP Corporation ahead of the logistics firm's annual general meeting in June, despite opposition from AGP's board. The proposal includes share consolidation and director appointments. AGP has criticized the proposal in a governance report. JAL has addressed key concerns in writing and prefers to discuss unresolved issues post-meeting, declining AGP's request for a pre-AGM interview.
Japan Airlines reiterated its support for a shareholder proposal submitted to AGP Corporation ahead of the logistics firm's June annual general meeting, despite opposition from AGP's board, according to a Friday filing on the Tokyo Stock Exchange.
The proposal, submitted in April, includes a share consolidation, removal of share unit provisions, partial amendments to the articles of incorporation, and director appointments. AGP has since publicly expressed opposition and issued a governance report criticizing the move.
JAL said it had already addressed key concerns in writing, including the proposed share purchase price and strategic intentions, and would prefer to discuss unresolved issues with AGP's management after the shareholder meeting. It declined AGP's request for a pre-AGM interview.
