Advisory company Institutional Shareholder Services (ISS) recommended on Wednesday that JKX shareholders vote to dismiss Proxima’s requests, which include reducing the company’s board size.
“The dissidents have not presented a compelling case that the company has substantially underperformed its peers in recent years – nor have they clearly established that the company's negative returns have been the result of mismanagement, as opposed to extenuating circumstances such as changes to Ukraine's tax regime, the impact of the Russian/Ukrainian crisis, and most recently, the global decline in oil prices,” ISS said in a report.
“The
