CHICAGO–(BUSINESS WIRE)–RMB Capital (“RMB”) had filed shareholder proposals regarding a dividend increase and outside board director for the 27th annual general shareholders’ meeting at Faith Inc. (4295 JP), which was held in June 2019. Although these proposals were voted down at the meeting, the dividend increase proposal received 27.55% of shareholder votes while the outside board director proposal received 33.07% of shareholder votes. Given the large ownership of the founder/CEO, RMB’s proposals effectively received the support of the majority of the remaining shares, crossing the “majority of minority” threshold. We believe these results demonstrate shareholders’ support of RMB’s efforts to press management further for corporate governance reform and shareholder return improvement.
RMB hopes the management considers the voting results seriously and initiates necessary actions to enhance the shareholder value at Faith.
About RMB Capital
Headquartered in Chicago, RMB Capital is an independent investment advisory firm that serves high-net-worth individuals and families as well as institutional investors. Its businesses include wealth management, family office services, asset management, and retirement plan consulting. Its asset management business specializes in long-term, concentrated, active investing strategies with coverage that spans the market-cap spectrum and the globe. To learn more about RMB, visit www.rmbcap.com.