Foreign Investors Vasanta Master Fund and Pagoda Push for Governance Reform at Catcher Technology

SINGAPORE, May 12, 2025 /PRNewswire/ -- As Catcher Technology's Annual General Meeting (AGM) approaches on May 27, 2025, shareholder activism continues to play a prominent role in shaping corporate governance discussions at the Taiwanese electronics casing manufacturer. Two foreign institutional investors, Singapore-based Vasanta Master Fund and Hong Kong-based Pagoda, have formally nominated candidates for four of the seven board seats up for election, including three positions reserved for independent directors.

This follows a multi-year campaign by the two funds aimed at improving board oversight, capital allocation practices, and shareholder rights at Catcher. The investors previously submitted a shareholder proposal in 2024 to allow shareholders to propose cash dividends, which was supported by global proxy advisory firms ISS and Glass Lewis. While the resolution did not pass, it received 30.37% of the shareholder vote, suggesting growing interest in governance reforms among international investors.

In this year's AGM, Vasanta and Pagoda are again seeking to influence the company's direction through board representation. They argue that their nominees would bring independent oversight and align with global governance standards. Proxy advisors ISS and Glass Lewis are expected to release their voting recommendations in the coming weeks, which could shape the outcome of the election.

Both Vasanta and Pagoda remain under regulatory review by Taiwan's Financial Supervisory Commission (FSC), which has revisited earlier inquiries regarding investor disclosure and ownership. The funds have stated that they continue to comply with all applicable regulations and disclosure requirements.

Catcher Technology has been the subject of increased scrutiny in recent years following the sale of key business assets and ongoing investigations involving its chairman and family members related to potential insider trading. These developments have raised broader questions around governance and accountability at the company.

The 2025 AGM may serve as a notable example of the increasing involvement of foreign institutional investors in Taiwan's corporate governance environment. Additional details regarding Vasanta's engagement with Catcher Technology are available at https://www.governanceforcatcher.com/, a public resource accessible to all market participants. Proxy advisors and shareholders are expected to make their assessments based on the information and disclosures provided.

SOURCE Vasanta Master Fund