We formally submitted shareholder proposals to seven of our portfolio companies in April. We say formally, as we have been informally putting forward the same suggestions to management persistently since we first invested in each company. The submission of the shareholder proposals came as no surprise to management, as in the preceding months we have taken the time to explain, at great lengths, the reasonings for our actions. In fact, the shareholder proposals have allowed us to have more frequent and meaningful dialogue with our investee companies which has fostered closer relationships.
AVI Japan Opportunity Trust p.l.c is referred to as ‘AJOT’ throughout the website. AJOT’s investment managers, Asset Value Investors are referred to as ‘AVI’