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Article: All Steel Partners' Nominees Elected to Board of Directors of Aderans Holdings Co., Ltd.

Article from:
Investment Weekly News
Article date:
June 20, 2009
Copyright

Steel Partners Japan Strategic Fund (Offshore), L.P. ("Steel Partners") announced that the shareholders of Aderans Holdings Co., Ltd. (TSE Code: 8170) ("Aderans" or the "Company") have elected ALL of its nominees to the Aderans' Board of Directors (the "Board") at the Company's Annual General Meeting. Steel Partners nominees now represent the majority of the Board.

Additionally, in the face of shareholder opposition the Company's proposed tender of treasury shares, which Steel Partners strongly opposed, was withdrawn as an agenda item.

"With today's vote, Aderans' shareholders demonstrated their strong desire for constructive change in the Company's ...

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