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LONDON - JPMorgan Emerging Europe, Middle East & Africa Securities plc (LSE:JEMA) has announced the withdrawal of two significant resolutions that were set to be voted on at the upcoming Annual General Meeting (AGM) scheduled for March 7, 2025. The resolutions in question, numbered 9 and 10, pertained to the authorization for Directors to allot new shares and to disapply preemptive rights, respectively.
These resolutions have been a standard part of JEMA’s AGM agenda in the past and have typically passed with substantial support, though the authorities granted by them have not been utilized by the Directors to date. The Board had argued that these resolutions would grant the Company operational flexibility, which they believed to be in JEMA’s best interest.
However, a portion of shareholders raised concerns over these proposals, prompting the Board to reconsider. The preliminary proxy vote figures, reflecting shareholder apprehension, influenced the Board’s decision to retract these resolutions from the AGM agenda.
The withdrawal of these two resolutions does not impact the other items that will be discussed and voted upon at the AGM. The meeting will proceed as planned, addressing the remaining agenda points detailed in the initial Notice of the AGM.
This development comes directly from an announcement made by the company on March 6, 2025, and is based on a press release statement. The company has not provided further details on the specific concerns raised by the shareholders or the potential implications of the withdrawal for JEMA’s future operations and strategy.
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