TSE has designated an issue as Securities Under Supervision (Confirmation) as follows.
Kenedix, Inc. stock
(Code: 4321, Market Division: 1st Section)
２．Period of Designation as Securities Under Supervision (Confirmation)
From Nov. 20, 2020 (Fri.) to the day when TSE determines whether the company has fallen under the delisting criteria
Enforcement Rules for Securities Listing Regulations, Rule 605, Paragraph 1, Item (21)-3
(due to falling under a case where the board of directors has made a resolution on a reverse stock split with a split ratio at which the number of all the shares owned by shareholders other than a specified party will be less than one share)
Today, Kenedix, Inc. (hereinafter 'the Company') indicated approval of a takeover bid to be made by SMFL MIRAI Partners Investment 2 Co,Ltd (unlisted) (hereinafter 'the bidder') for shares of the Company, which is premised on a subsequent delisting of the shares.
The Company has made an announcement that the bidder will demand that the Company put forth, at a general shareholders meeting after the completion of the takeover bid, an agenda item regarding a reverse stock split with a split ratio at which the number of shares held by shareholders of the Company other than the bidder and another shareholder will be less than one share.
If the agenda item is approved in a resolution at the general shareholders meeting of the Company, the stock of the Company will be delisted. As such, based on this announcement, TSE deems that the stock of the Company is likely to be delisted and designates such stock as Securities Under Supervision (Confirmation).
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Tokyo Stock Exchange, Inc. Listing Department, Corporate Disclosure Office, Planning & Coordination, Listed Company Services
Japan Exchange Group Inc. published this content on 20 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 November 2020 08:04:02 UTC