Vote Recommendation Report for Akzo Nobel CCM


Here is the detailed vote recommendation report for the Akzo Nobel Court Convened Meeting to be held on February 7th. Download from: AKZOINDIA CCM 07022012 InGovern Vote Recommendations

InGovern recommends institutional investors vote AGAINST the Amalgamation of Akzo Nobel Car Refinishes India Pvt. Ltd., Akzo Nobel Chemicals (India) Ltd. and Akzo Nobel Coatings India Pvt. Ltd. with Akzo Nobel India Ltd.

“Given the sketchy disclosures made by the company, the nebulous valuations presented to investors, the one-off writeoffs and unsecured loans, and the dis-proportionate dilution of public shareholders, we recommend shareholders vote AGAINST the amalgamation.”