The Kodensha,Co.,Ltd. approved the share consolidation and amendments to its articles of incorporation at an extraordinary general meeting of shareholders. A total of 747,603 shares will be consolidated into 1 share, with fractional shares settled in cash, and the company is expected to be designated as a delisting-designated issue ahead of its delisting. The delisting is scheduled for 25 September, and the consolidation will take effect on 29 September.
The Kodensha,Co.,Ltd. approved the share consolidation and amendments to its articles of incorporation at an extraordinary general meeting of shareholders, resolving to consolidate 747,603 shares into 1 share. Fractional shares held by fractional shareholders are expected to be settled in cash.
The share consolidation is expected to substantially reduce the number of shares outstanding and is likely to affect the shareholder structure going forward. The specific procedures for the consolidation will proceed following approval at the general meeting of shareholders.
As part of the procedures for the delisting, The Kodensha,Co.,Ltd. is expected to be designated as a delisting-designated issue, and developments in trading after the designation will require close attention. The delisting is scheduled for 25 September, and the consolidation will take effect on 29 September.