The proxy for a special meeting of this data storage company had the following proposals:
- Four board proposals related to approving the “Scheme” as defined in materials dated March 3, 2021
Magni voted as follows:
- Against all proposals. The materials did not contain any significant information about the benefits of the “Scheme” for shareholders, or other stakeholders. The materials were full of legal materials, disclaimers, and process. Companies should explain proposed restructuring in terms of benefits for its stakeholders. When a company cannot or does not do that, it should not expect the support of shareholders.