Potential dilution of voting rights associated with a third-party allotment
First written in FY2023-Q2. 2 of 3 entries say "Worsened", first in FY2023-Q3. Latest entry: FY2023.
Renaissance moved to the "Worse" side of this theme in 2023, 2 years after the typical company in this theme (2021).
The whole theme swung hardest in 2017: 18 of 36 companies on the "Worse" side.
17 other companies' latest entry also says "Worsened".
- FY2023WorsenedAnnual report
「The number of shares underlying the 2nd Series Stock Acquisition Rights and the 1st Series Convertible Bonds with Stock Acquisition Rights is 1,569,000 shares in each case.」
Through the third-party allotment, 2,092,000 Class A preferred shares were issued, along with stock acquisition rights and convertible bonds with stock acquisition rights each representing potential common shares of 1,569,000 shares, making the potential dilution from future delivery of common shares concrete. - FY2023-Q3WorsenedAnnual report
「On 31 January 2023, we issued Class A preferred shares to AAGS S3 as the allottee and received payment of ¥1,999,952 thousand on the same date. We also issued the 2nd Series Stock Acquisition Rights to AAGS S3, with 23 January 2023 as the allotment date, and received payment of ¥11,673 thousand on 31 January 2023.」
Regarding the third-party allotment involving potential dilution, the issuance and payment for the preferred shares and stock acquisition rights were completed following approval at an extraordinary general meeting of shareholders. This does not state that dilution itself occurred through conversion into or exercise for common shares. - FY2023-Q2First statedAnnual report
「Because this third-party allotment could result in 27.70% dilution relative to the total 188,807 voting rights attached to the company’s issued shares as of 30 September 2022, the purpose is to ascertain shareholders’ views at the extraordinary general meeting of shareholders.」
We disclosed that the third-party allotment could result in 27.70% dilution relative to the total voting rights as of 30 September 2022. The issuance is subject to approval at an extraordinary general meeting of shareholders and other conditions.