Acquisition of shares in Showa Shell Sekiyu
First written in FY2016. 2 of 6 entries say "Cited as achieved", first in FY2017. Latest entry: FY2018.
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- FY2018Cited as achievedAnnual report
「Acquisition of shares in 昭和シェル石油株式会社, representing 31.3% of voting rights, from a subsidiary of Royal Dutch Shell plc」
The completion of the acquisition of shares in 昭和シェル was recorded as a past accomplishment in the Company's history. - FY2017Cited as achievedAnnual report
「On 19 December 2016, the Company received from the Japan Fair Trade Commission a notice stating that no cease-and-desist order would be issued, subject to implementation of the remedies proposed by the Company and 昭和シェル石油㈱. On the same day, it completed the acquisition from RDS of 117,761,200 shares in 昭和シェル石油, representing 31.3% of voting rights.」
The completion of the acquisition of shares in 昭和シェル was also confirmed as an accomplished fact in the annual report. - FY2017-Q3AchievedAnnual report
「At a meeting of the Board of Directors held on 19 December 2016, the Company resolved to enter into an amendment agreement to the above share transfer agreement. On the same day, it entered into the amendment agreement with a subsidiary of Royal Dutch Shell plc and completed the acquisition of shares in 昭和シェル, representing 31.3% of voting rights.」
The acquisition of shares in 昭和シェル was completed on 19 December 2016. Following the amendment to the agreement, the number of shares acquired was 117,761,200, the acquisition price was ¥158,978 million, and the post-acquisition voting rights ratio was 31.3%, changed from the previously planned 33.3%. The acquisition was funded with borrowings, specifically a bridge loan. - FY2017-Q2SoftenedAnnual report
「③ Timing of the share acquisition: December 2016 to January 2017 is currently planned. (Completion of the share transfer is subject to the completion of the Japan Fair Trade Commission's merger review and other conditions.)」
The share acquisition period changed from "during September 2016" in the previous quarterly report to December 2016–January 2017. The acquisition price of ¥169,103 million, the post-acquisition voting rights ratio of 33.3%, and the plan to fund the acquisition with borrowings remain unchanged. - FY2017-Q1RestatedAnnual report
「Timing of share acquisition: Scheduled for September 2016. (Execution of the share transfer is subject to, among other conditions, completion of the Japan Fair Trade Commission’s review of the business combination.)」
The plan to acquire Showa Shell shares in September 2016 for ¥169.103 billion and achieve a 33.3% voting rights ratio was maintained, and the planned financing through borrowings and a ¥100 billion subordinated loan was also described. - FY2016First statedAnnual report
「At a meeting of the Board of Directors held on 30 July 2015, the Company resolved to acquire shares in Showa Shell Sekiyu Co., Ltd. (hereinafter, “Showa Shell”) and, on the same date, entered into a share transfer agreement with a subsidiary of Royal Dutch Shell plc, a shareholder of Showa Shell, for shares representing 33.3% of the voting rights in Showa Shell.」
The acquisition was scheduled for September 2016, at an acquisition price of ¥169.103 billion, resulting in a 33.3% voting rights ratio after the acquisition.