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M&A and Subsidiary Changes3397TORIDOLL Holdings CorporationRetail

(Update on Previously Disclosed Matter) Notice Regarding the Execution of an Asset Transfer Agreement in the Administration Proceedings of a UK Subsidiary

An agreement has been executed to transfer the business and related assets of TRG, a subsidiary of the Company's UK subsidiary, to Karali Group under the supervision of an administrator. Following the transfer, TRG is expected to be excluded from Toridoll HD's scope of consolidation.

Worth reading
59In focus
Scored from 2 of 5 sections
Direction
Deterioration
Direction inferred from the company’s description.
Scale
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Wording
Avoiding a definitive answer
How definitive the wording is.

This transaction

Asset Purchase Agreement
CounterpartyKarali Group
Disclosing companyTORIDOLL Holdings Corporation
The Real Greek Food Company Limited (TRG)Subject of this transaction
Execution Date / Effective DateThe asset transfer process is expected to proceed (the specific date is not disclosed)
Target company
Location United Kingdom
Impact on Business Performance

Currently under review

Procedures and assumptions
Management structure after acquisitionThe disclosure states that the business will be maintained and a smooth transition facilitated, but the specific management structure, corporate name and treatment of employees are not disclosed
This transaction
ItemDetails
Transaction nameAsset Purchase Agreement
Counterparty nameKarali Group
Name of the Subject CompanyThe Real Greek Food Company Limited (TRG)
Location of the Subject CompanyUnited Kingdom
Impact on Business PerformanceCurrently under review
Execution Date / Effective DateThe asset transfer process is expected to proceed (the specific date is not disclosed)
Management structure after acquisitionThe disclosure states that the business will be maintained and a smooth transition facilitated, but the specific management structure, corporate name and treatment of employees are not disclosed
Items this document does not state (25)
Business Description of the Subject CompanyCapital Stock of the Subject CompanyDate of Establishment of the Subject CompanyNet Sales of the Subject CompanyOperating Profit of the Subject CompanyNet Income of the Subject CompanyNet Assets of the Subject CompanyAcquisition priceExpenses other than the acquisition priceType of ConsiderationMerger ratio/share exchange ratioTender offer priceMinimum number of shares to be purchasedTender offer periodNumber of shares acquiredVoting rights ownership percentageFunding arrangementsGoodwill amountAmount of extraordinary income (loss)Date of board resolutionContract DateValuation methodologyIndependent valuation institutionSpecial CommitteeConditions Precedent to Execution

These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.

The reasons the company gives

The company's own explanation, not something inferred from the numbers.

The purpose is to minimize the impact on TRG's creditors and employees and to restructure the business. The Company also believes that the transfer to Karali Group will help maintain the business and ensure a smooth transition.

How to read this page

This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.
(Update on Previously Disclosed Matter) Notice Regarding the Execution of an Asset Transfer Agreement in the Administration Proceedings of a UK Subsidiary | TORIDOLL Holdings Corporation (3397) timely disclosure | Komori