SAAF Holdings Co.,Ltd. [1447.T]
TOKYO, Jun 23 (Pulse News Wire) – Saaf Holdings CO.,LTD. (1447.T) filed for provisional disposition with the Tokyo District Court on June 15, seeking confirmation that its directors hold their positions and that Chairman Shinaeda Naoyuki remains in his role.
On June 22, the court provisionally determined that the directors maintain their statuses. The dispute stems from a special shareholders' meeting held on May 12, convened by former shareholder Maeda Toshimori, who proposed seven new director candidates. SAAF Holdings previously stated that the resolution to remove existing directors and appoint new ones violated laws and regulations, rendering it invalid or subject to cancellation.
The company continues to assert this stance during the interim proceedings. Looking ahead, SAAF Holdings plans to pursue litigation to seek final judicial determination that the removal resolutions are unlawful and should be nullified. The company reaffirms its commitment to upholding corporate value and realizing common stockholder interests based on legal frameworks.
Shareholders are urged to support the ongoing efforts despite any inconvenience caused.
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