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Share Issuance and Disposal6197Solasto CorporationInformation and Communications, Services and Others

Notice of the Convocation of an Extraordinary General Meeting of Shareholders Concerning a Share Consolidation, the Abolition of the Share Unit System and Partial Amendments to the Articles of Incorporation

As the second step in the MBO process, the Company will submit to the Extraordinary General Meeting of Shareholders a proposal to consolidate 2,120,340 common shares into 1 share, resulting in 42 issued shares after the consolidation takes effect. In addition, the Company will abolish the number of shares constituting one unit and amend its Articles of Incorporation. The Company is scheduled to be delisted on 6 August 2026.

Worth reading
29Immaterial
Scored from 4 of 5 sections
Direction
Neutral
Direction inferred from the company’s description.
Scale
2120340
Share consolidation into 1 share for every [unspecified number] shares
Wording
Conditional
How definitive the wording is.

No category-specific facts could be extracted from this document.

The reasons the company gives

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

To take the Company's shares private through the MBO and make the tender offeror, DAITO TRUST CONSTRUCTION CO.,LTD., the Company's employee stock ownership association and other shareholders expected to remain the shareholders. As the total number of issued shares will be 42 after the share consolidation, it will no longer be necessary to prescribe the number of shares constituting one unit. In addition, because the Company will be delisted as a result of going private, the provisions of the Articles of Incorporation concerning the electronic provision system will also be deleted.

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Notice of the Convocation of an Extraordinary General Meeting of Shareholders Concerning a Share Consolidation, the Abolition of the Share Unit System and Partial Amendments to the Articles of Incorporation | Solasto Corporation (6197) timely disclosure | Komori