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Article: Steel Partners Urges Aderans' Shareholders to Vote against Aderans' Board Slate at 2009 General Shareholders' Meeting; Reject Unison Tender Offer and Dilutive Sale of Treasury Shares.
- Article from:
- Investment Weekly News
- Article date:
- May 30, 2009
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Steel Partners Japan Strategic Fund (Offshore), L.P. ("Steel Partners") today urged fellow shareholders of Aderans Holdings Co., Ltd. (TSE Code: 8170) ("Aderans" or the "Company") to vote AGAINST the election of the Company's candidates to the Board of Directors (the "Board"), which includes three representatives of the Unison Capital Group ("Unison"), and AGAINST the Company's proposed issue of treasury shares at the Company's General Shareholders' Meeting to be held May 28, 2009 in Tokyo. Steel Partners has been a long-term investor in Aderans since 2004, and is currently its largest shareholder, owning over 26% of the Company's outstanding shares.
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