Toshiba Corp.'s (OTCPK:TOSBF) second biggest holder is said to be calling for a special shareholder meeting to vote on the company's plan to split into three companies.
Singapore-based fund 3D investment Partners, which has a 7.6% stake, delivered a request for an extraordinary general meeting to Toshiba, according to an FT report. The EGM request is structured so that shareholders could vote directly against the three-way split up.
Reuters reported in late November that 3D Investment Partners was opposed to the plan to split into three companies and instead wanted the company to solicit offers from potential buyers.
3DInvestment Partners was the first major shareholder to formally object to the break-up plan that was outlined in November.