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Safe Harbor Issues New Open Letter to Shareholders Urging Su

时间:2018-10-10 编辑:AG集&#


大发快3大小推算Safe Harbor Encouraged by Strong Shareholder Support Particularly from SNT's Individual Shareholders

HONG KONG, June 21 /Xinhua-PRNewswire/ -- Safe Harbor Master Fund L.P. ("Safe Harbor Fund"), a fund managed by Safe Harbor Investment Ltd. (hereafter "Safe Harbor"), the largest shareholder of SNT Corporation (hereafter "SNT"; TSE: 6319), today issued a new open letter to SNT shareholders urging them to support Safe Harbor's resolutions at the 76th Annual General Meeting on 28 June 2007.

In the open letter, Safe Harbor expressed that they were pleased with the strong level of support received from individual Japanese shareholders as well as from domestic and foreign institutions.

It cites these shareholder voices as the reason why SNT finally made some effort to address the steps in the plan that Safe Harbor presented to management last November. However, the letter points to how SNT's management is only "considering" such steps as opposed to a firm commitment to implement them.

Furthermore, the letter highlights the continued concerns over the 2.0 billion yen real estate purchase that was gifted to the "GF" company for 43 days. It also points out that SNT's management has not answered the questions regarding the 2.9 billion yen of loans to unidentified third parties. It finally raises a third corporate governance concern with regards to the 2% stake in SNT's valuable Thailand subsidiary that SNT's board "sold" to Mr. Funai.

Safe Harbor reiterated that these corporate governance concerns and the high director turnover at SNT make it necessary for outside directors.

Safe Harbor also asked the companies that comprise SNT's mochiai companies consider the wishes of individual shareholders when exercising their vote this year.

For further information and a full copy of Safe Harbor's letters to SNT shareholders, please visit the website: www.safeharbor-investment.com

About Safe Harbor Investment, LtAAAAAAA> The funds managed by Safe Harbor Investment Ltd. invest primarily in the securities of Japanese companies. Safe Harbor Investment Ltd, is the investment manager for Safe Harbor Master Fund L.P., an entity that beneficially owns shares of SNT's common stock.

IMPORTANT NOTE: This press release (hereafter "Release") is not an offer to acquire shares nor an invitation to tender shares in SNT Corporation and is not intended to solicit any shareholder to retain the fund or any party related thereto or any other third party as its/his proxy in exercising its/his voting rights at any general meeting of the shareholders of SNT Corporation, nor to provide any advice in connection with the exercising of the voting rights by any shareholder. This Release is based on information available to Safe Harbor Investment as of the date of this Release. While Safe Harbor Investment haAAAAercised reasonable care as to the information in this Release, Safe Harbor Investment makes no representation or warranty as to the accuracy or completeness of the information contained herein.

This Release is not intended to have an effect on the share price of SNT Corporation. Safe Harbor Investment and Safe Harbor Fund assume no responsibility as to any reaction from the market in response to the proposals or viewAAAApressed by the management of SNT Corporation. The proposals are intended solely to introduce the subject matter of the proposals for consideration by SNT Corporation's shareholders at the General Shareholders' Meeting.

For Media Inquiries:

Fleishman-Hillard Japan, Inc.

Tatsumi / Saito

Tel: +81-3-3524-4631 (or 4620)

Fax: +81-3-3524-4602

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