https://www.oann.com/toshiba-independent-director-to-vote-for-preparations-to-privatise/?utm_source=rss&utm_medium=rss&utm_campaign=toshiba-independent-director-to-vote-for-preparations-to-privatise

FILE PHOTO: The logo of Toshiba Corp. is seen at the company’s facility in Kawasaki, Japan June 10, 2021. REUTERS/Kim Kyung-Hoon

March 17, 2022

(Reuters) – Raymond Zage, an independent director of Japanese conglomerate Toshiba Corp, will vote for a resolution seeking additional work towards a possible privatisation exercise, he said in a statement on Thursday.

The March 24 shareholder vote on Toshiba’s plan to split in half will be a key moment in a long-running battle between management of the once-mighty technology company and its growing number of foreign shareholders.

“Some level of additional information could be provided to shareholders for the purposes of comparing a potential privatisation with the potential value of the proposed spin off plan,” Zage said in the statement.

(Reporting by Sakura Murakami; Editing by Clarence Fernandez)

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