February 01, 2007
Summary
◆Two government ordinances and a cabinet order clarifying details of revisions made to the large shareholding reporting systems were announced on 8 December and 12 December respectively.
◆They include details of what constitutes a "major proposal" of the sort that would make the submission of a special large shareholding report unacceptable.
◆More specifically, they define a major proposal as a "submission to management and/or a general meeting of shareholders of a proposal that would result in the disposal or transfer of an important corporate asset, appointment or dismissal of a representative director, a material change in company personnel, a material change in a company's dividend policy, the initial listing of shares in a subsidiary, etc."
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