shareholder

Topics: Stock, Fiduciary, Shareholder Pages: 5 (694 words) Published: January 12, 2014

Definition of makjor shareholder
A single shareholder who controls more than half of a corporation's outstanding shares, or sometimes, one of a small group of shareholders who collectively control more than half of a corporation's outstanding shares.

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Majority shareholder is a shareholder who owns and controls most of a corporation’s stock. Only those persons who own more that 50 percent of a company’s shares can be a majority shareholder. Generally, a majority shareholder has more power than all of the other shareholders combined. S/he also has the authority to do things that other shareholders do not have, such as replacing a corporation’s officers or board of directors. Majority shareholder is commonly seen in private companies rather than public companies. In Crosby v. Beam, 47 Ohio St. 3d 105 (Ohio 1989), the court held that “Majority shareholders have a fiduciary duty to minority shareholders. A majority shareholder has a fiduciary duty not to misuse his power by promoting his personal interests at the expense of corporate interests.” The court further observed that “Majority or controlling shareholders breach the fiduciary duty to minority shareholders when control of the close corporation is utilized to prevent the minority from having an equal opportunity in the corporation.” .

However, the court in Smith v. N.C. Motor Speedway, Inc., 1997 NCBC 5 (NCBC 1997), observed that, “Shareholders, including majority shareholders, do not owe fiduciary obligations to other shareholders when selling their own stock in a corporation. Shareholders have a right to control and vote their shares in their own interest. They are limited only by any fiduciary duty owed to other stockholders. It is not objectionable that their motives may be for personal profit, or determined by whim or caprice, so long as they violate no duty owed other shareholders. The owner of corporate stock may dispose of his shares as he sees fit. In selling their stock, stockholders necessarily act for themselves and not as trustees for other stockholders.

1.Khazanah Nasional Berhad is the Government of Malaysia's strategic investment fund. As trustees to the nation's commercial assets, our role is to promote economic growth and make strategic investments on behalf of the Government which would contribute towards nation-building. Khazanah is also tasked to nurture the development of selected strategic industries in Malaysia with the aim of pursuing the nation's long-term economic interests. Khazanah has investments in over 50 major companies, both in Malaysia and abroad, and our companies are involved in a broad spectrum of industries. Khazanah is also the key agency mandated to drive shareholder value creation, efficiency gains and enhance corporate governance in companies controlled by the government, commonly known as Government-Linked Companies, or GLCs. 2. Announcement Info

Company Name
CIMB GROUP HOLDINGS BERHAD
Stock Name
CIMB
Date Announced
5 Apr 2013
Category
Changes in Substantial Shareholder's Interest Pursu
ant to Form 29B
of the Companies Act. 1965

3. Amanah Raya Berhad or AmanahRaya as we are known, is Malaysia's premier trustee company. Since its establishment as the Department of Public Trustee and Official Administrator on 1 May 1921, AmanahRaya have served the nation for over 86 years and is the market leader in providing trust, legacy management and will-services. The Department of Public Trustee & Official Administrator was corporatised on 29 May 1995 and on 1 August 1995 commenced its operations as Amanah Raya Berhad. As trustee and administrator, AmanahRaya's services encompass the legal, financial and administrative duties in preparing trust documents and wills, acting as trustees of trust funds, acting as administrators and executor of deceased estates as well as monitoring the transaction of unit...
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