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Technology Stocks : Softbank Investment International (HK0648)
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To: ms.smartest.person who wrote (608)1/21/2004 11:53:12 PM
From: ms.smartest.person  Read Replies (1) of 615
 
08 Jan 2004 Softbank (0648) shrhlders oppose change of co name

(Infocast News) A resolution proposed by the directors of Softbank Investment International (Strategic) Limited (0648) to change the company name to SI Investment (Strategic) Limited has been opposed by shareholders in a voting today during the company's extraordinary general meeting (EGM). Other resolutions on granting general mandate to the directors to issue shares and on the sale of SBI E2-Capital Ltd were approved by the shareholders.

According to Wong Kean-li, President of the company, shareholders holding 200 million shares in the company attended the EGM, of whom holders of more than a half of the shares voted against the resolution to change the name in English. Currently, the company has 3.6 billion shares in issue.

The management of Softbank Investment would like to change the name in order to avoid the misunderstanding that Japan's Softbank Corp still holds shares in Softbank Investment, although Softbank Corp is unlikely to oppose the continued use of the existing name, Wong said. The management of Softbank Investment will consider whether to put forward another resolution for change of name in future and will change the company logo now despite the change of name is declined, he said.


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