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Evergreen Marine Corp’s (長榮海運) proposed capital reduction was yesterday approved by shareholders, despite an objection from a major shareholder, Evergreen International Corp (長榮國際). About 79 percent of the company’s shareholders attending its annual general meeting in Taipei approved the proposal, enabling Evergreen Marine to reduce its capitalization by 60 percent and return NT$31.7 billion to shareholders, or NT$6 per share, the company said. Evergreen International Corp, which holds a 4.96 percent stake in Evergreen Marine, objected to the proposal, with its attorney, Wu Chu-chun (吳祝春), saying before the vote that if Evergreen Marine thinks its capital is more than sufficient, it should

T ai peiWu chu chunEric hsiehWu kuang huiEvergreen international corpEvergreen internationalEvergreen marine corpClearing corpKao shih chingMarine corpEvergreen marineInternational corpThe taipei times