RIP - a true hidden gem on an investor accessnewswire.com/newsroom/…

Just so you know, what Bill Ackman did today to pump Fannie Mae $FNMA and Freddie Mac $FMCC stock 1 day before quarter end, is the exact same thing he did 1 day before another quarter and year end.

$STRR #StarEquity bought back 8% of its stock and re-upped its share repo program: globenewswire.com/news-relea…

We did reach Parliament. Great work by the members of the group sending letter to their MP's. Full artice can be found on Investors Chronical. $ANX.l

Financial Adviser to Anexo, Grant Thornton, was also unable to deem the offer being made by management as fair and reasonable (see below in the foot-notes to the offer).

Hibiki Path Advisors (“we”, “us”) today submitted a revised Large Shareholding Report following a 1% increase in our stake in JAPAN PURE CHEMICAL CO., LTD. (“the Company”, “JPC”). We now hold 20.35% of the Company’s shares (21.35% excluding treasury shares). In the outcome of the shareholder proposal we disclosed earlier(hibiki-path-advisors.com/en/…), Item 11 “Partial amendment to the Articles of Incorporation to change the decision-making authority for dividends from surplus, etc.”, received 49% of the vote but was rejected. However, based on our calculations, the proposal was supported by approximately 73% of general individual shareholders and institutional investors¹. Considering the recent increase in our stake, if we were to gain the same level of support from shareholders as we did for Item 11, this would represent support of around 52% of total shareholder voting rights (equivalent to 78% support from general individual shareholders and institutional investors). Although Item 11 was a special resolution, we take it as a positive indication that, depending on the proposal, we are now able to gain majority approval. We will continue to strengthen our constructive engagement to ensure the common interests of all shareholders. As we stated in our public letter dated Sep 9 2024, “Request for Consideration of Privatization”, we have proposed to the Company’s management to execute a flexible and dynamic strategic actions to enhance corporate value, including various forms of privatization. Additionally, it has been reported that JSR, a major semiconductor materials company, went private by the government-backed investment fund Japan Investment Corporation (JIC), while Taiyo Holdings, the world’s largest solder resist manufacturer, has reportedly received proposals from many private equity firms. In the functional chemicals industry, which is characterized by many niche players, we are beginning to see signs of change similar to those observed in Europe and the US. We remain fully committed to exploring paths towards maximizing the Company’s corporate value. To our fellow shareholders, and to the employees who are the true source of the Company’s value, we sincerely ask for your continued support. ¹Assuming that shareholders presumed to be related to JPC or involved in cross-shareholdings voted against. For further details, please see the link below. hibiki-path-advisors.com/en/… This post does not constitute a solicitation for an offer to acquire or recommend the purchase or sale of specific securities, or advice on investment, legal, tax, accounting, or any other matters. In the event of any discrepancy or conflict between the English and Japanese versions, unless otherwise noted, the meaning of the Japanese language version shall prevail unless otherwise expressly indicated.

📢 Calling all Anexo minority holders! Our coalition already controls a massive chunk of the float committed to voting AGAINST the delisting. Not in the group yet? Message me. The more shares we unite, the stronger we get. Group other large holders can already block. PLEASE share for reach🔥

OPEN LETTER: Minority Shareholders' Response to tender offer made today, concurrent with the proposed acquisition of Anexo Plc, including law firm Bond Turner. @AnexoPlc $ANX $ANX.L #Anexo #ANX #MCAMS #DAMS #Fintwit #Fintwit @BloombergUK @ReutersUK @AP @FT @lawsocgazette

The CFA Institute is no longer the outstanding organization it was when I joined upon earning my charter 31 years ago. If you are a CFA charterholder and have not yet voted your proxy (deadline this Monday the 21st at noon Eastern) or may consider changing your vote, or are simply interested in an opinion as to how a once-great advocate for financial education, advocacy and ethics is failing a large proportion of its membership, please read on. Please also resend this message. I’ll get to the important proxy vote and bad governance on display shortly, which I hope all charterholders take the time to vote, but first, many likely saw the CFA Institute’s Chief Marketing Officer “allegedly” embezzled nearly $5 million from the Institute from 2016 to 2024, including $150k for an engagement ring, and another $1 million from another employer. He was indicted on June 23 by the Manhattan DA. Despite immediate media coverage, the institute waited more than two weeks to address the disaster with its membership and on July 8 finally sent an incredibly tone-deaf email update from its President and CEO, Margaret Franklin, CFA, paid $1.4 million compensation by the Institute in 2024. The accused embezzling CMO was earning $500k annually. The message took zero accountability, other than suggesting it would do better. As an institution that holds itself out as an exemplar of ethics, integrity, and that administers the CFA examination program, which focuses on accounting, financial statement analysis and ethics, among other subject matter, a failure to detect fraud over eight years is beyond a financial-controls black eye. It serves to destroy the CFA brand, already under assault from the way the organization sitting atop the membership and local member societies is managed and governed. The CFA membership received another email message from President and CEO Franklin three days later on July 11 which encouraged the members to vote their proxies. They need a quorum. Franklin is an infrequent direct communicator. I find only a New-Year’s message over the past two years from her in my inbox. Franklin’s urge to vote notes, “By voting, you and or your colleagues around the world will be electing a chair, vice chair, and governors to serve on the Board, and additional proposals related to Board governance.” The “additional proposals” the President and CEO FAILS TO DISCUSS are bylaw changes serving to grotesquely strip the membership and local societies of representation. The members and societies are the bedrock of the organization and for whom the President and CEO serves, and this year’s proxy initiatives are a perfect illustration of governance gone haywire. The proposals are an embarrassment to the Institute but more importantly to all 211,000 CFA charterholders globally. Specifically, proposals 1a, 1c, and 1d shift the election of the Chair and Vice Chair from the membership to the current CFA Institute Board, concentrating power within the Board and diluting the perpetually diminished role that members and societies play in shaping the direction of their global association. The proposals erode membership democracy, weakening transparency and member engagement in governance decisions. I voted AGAINST. Proposal 1e merges the Nominating and Governance Committees, restricting its composition to only current Governors. This removes multiple non-Governor perspectives, including two from the membership’s elected Presidents Council Representatives, PCRs. It is obscene that the current Board would introduce a proposal to self-select nominees to serve on the Board. Of course a one-sided, like-minded Board will work to perpetuate itself. Stunning. Between the four proposals the Board nominates itself and solely elects its Chair and Vice Chair. I voted AGAINST. 1/3