Hedge fund J&J Asset Management has submitted proposals seeking the removal of most of South Korean aluminium products manufacturer Daeho AL’s current directors and auditors ahead of an upcoming shareholder meeting, according to a report by ChosunBiz.
The asset manager, which hold a 4.3% stake in Daeho AL, has also nominated a slate of replacement directors, signalling a broader effort to influence the company’s strategic direction.
Daeho AL has been under pressure since trading in its share...
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