SAAF Holdings Co.,Ltd. [1447.T]
TOKYO, May 22 (Pulse News Wire) – Saaf Holdings CO.,LTD. (1447.T) filed a new injunction on May 21 with the Tokyo District Court against seven proposed directors nominated by shareholder Masatoshi Maeda, seeking to invalidate their positions as directors and representatives.
The move follows the company's previous filing on May 12, which was subsequently withdrawn. Additionally, the company’s auditors had also filed a similar injunction on May 12 but withdrew it on May 20 due to overlapping content with the new filing. The company maintains its stance that the resolution appointing the proposed directors violates the articles of incorporation and is therefore invalid.
However, it decided to pursue a cancellation lawsuit alongside the injunction to strengthen its legal position. The final judgment on the validity of the directors' positions remains pending with the court. In light of ongoing litigation, SAAF Holdings reaffirmed its commitment to upholding corporate value and realizing shareholders’ common interests through lawful and appropriate management actions.
The company apologizes for any inconvenience caused to its shareholders during this process and requests continued support.
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