Company: OIA
Filing Date: 2025-02-07
Form Type: N-2/A
Source: 0001104659-25-010545
Chunk: 162

Company: Invesco Municipal Income Opportunities Trust
Filing Date: 2025-02-07
Form: N-2/A
Chunk 162
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 scandals (if any) of recipients and business performance and scandals (if any) of the subject company, and so on. ● We generally vote for proposals granting retirement benefits if all the following criteria are satisfied. ● The granted amount is disclosed. ● Outside directors, statutory auditors and audit committee board members at a company with Audit Committees are excluded. ● Recipients do not cause any significant scandals during their tenures. ● The subject company does not make a loss for the three consecutive years, or its business performance is not determined to significantly lag behind the peers in the same industry. ● The company does not cause scandals that significantly impact society and damage, or are unlikely to damage, shareholder value during their tenures. ● The company does not engage in window-dressing or inadequate accounting practices during their tenures. 8. Cross-shareholdings If a company holds shares for the sake of business relations (cross shareholdings), the company should explain the medium- to long-term business and financial strategies, including capital costs, and disclose proxy voting guidelines, voting results, and so on. If the company does not give reasonable explanations and engage in constructive dialogues, we consider voting against the appointment of top executives. It is important that the company does not hinder the sales/reduction of cross shareholdings when a policy shareholder intends. ● If a company's cross shareholdings account for 20% or more of its net assets, we generally consider voting against the appointment of top executives. However, this shall not apply if we confirm that the company makes a reduction, does sufficient planning or has industry- specific circumstances that should be taken into consideration in engagement. 9. Capital Policy As a listed companies’ capital policy is likely to significantly impact shareholder value and interests, a company should implement a rational capital policy and explain capital policy guidelines to shareholders. We consider voting against proposals concerning capital policies that we judge damage shareholder value. If a B-30 company has a capital policy that is not part of proposals at an AGM but regarded to damage shareholder value, we consider voting against the reappointment of board directors. ● It is undesirable that a company intends to maintain or increase so-called “friendly” stable shareholders and infringes minority shareholders’ rights by the third-party allotment, treasury stocks transfer or company management holdings’ transfer to foundations affiliated with the company. (1) Change in authorized shares ● We decide how to vote on proposals seeking to increase authorized shares, taking into account the impact on shareholder value and rights, the rationales, the impact