(Adds context)TOKYO, Jan 20 (Reuters) - Toshiba Corp’s top shareholder has sought court approval to call an extraordinary shareholders meeting (EGM) by itself as the Japanese firm has yet to officially clarify whether to hold it or not on the fund’s EGM request.
Toshiba has received a notice from the Tokyo District Court that Effissimo Capital Management has filed a petition for court approval to call an EGM, the Japanese industrial conglomerate said in a filing on Wednesday.
Toshiba said last week it plans to hold an EGM by the end of April as requested by Effissimo and another large shareholder, U.S. hedge fund Farallon Capital Management, but has not made an official decision.
If Toshiba fails to open an EGM within eight weeks of receiving the request or to promptly start the procedure, the shareholder could call a meeting by itself with court approval.
A Toshiba spokeswoman said the company is examining the details of the shareholders’ EGM demands, and that it will act in accordance of regulations.
Toshiba, Court, Effissimo Capital Management, Effissimo, Farallon Capital Management, EGM
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