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Three of the four warring sons of late Evergreen Marine Corp (EMC) founder Chang Yung-Fa have failed to prevent a proposal which asked shareholders to reduce the company’s capital via a cash refund.
In proposals to reduce debt and restructure its shareholdings, EMC proposed a refund on 60% of the share capital, which it said would be “beneficial in enhancing shareholder equity”.
EMC member of the board, Chang Kuo-Hua, eldest of the four brothers, has been locked in a battle with his ...
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