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Mar. 05, 2021 TSE Designation of Securities Under Supervision (Confirmation): IGNIS LTD.


TSE has designated an issue as Securities Under Supervision (Confirmation) as follows.

1.Issue Name IGNIS LTD. stock
(Code: 3689, Market Division: Mothers)
2.Period of Designation as Securities Under Supervision (Confirmation) From Mar. 5, 2021 (Fri.) to the day when TSE determines whether the company has fallen under the delisting criteria
Provision Enforcement Rules for Securities Listing Regulations, Rule 605, Paragraph 1, Item (21)-3
(due to falling under a case where the board of directors has made a resolution on a reverse stock split with a split ratio at which the number of all the shares owned by shareholders other than a specified party will be less than one share)
3.Reason Today, IGNIS LTD. (hereinafter "the Company") indicated approval of a takeover bid to be made by K.K. i3 (unlisted) (hereinafter "the bidder") for shares of the Company, which is intended for a subsequent delisting of the shares. The Company has made an announcement that the bidder will demand that the Company put forth, at a general shareholders meeting after the completion of the takeover bid, an agenda item regarding a reverse stock split with a split ratio at which the number of shares held by shareholders of the Company other than the bidder and two other shareholders will be less than one share. If the agenda item is approved in a resolution at the general shareholders meeting of the Company, the stock of the Company will be delisted. As such, based on this announcement, TSE deems that the stock of the Company is likely to be delisted and designates such stock as Securities Under Supervision (Confirmation).
Current Designations of Securities Under Supervision & Securities to Be Delisted
Designation History of Securities Under Supervision & Securities to Be Delisted

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Tokyo Stock Exchange, Inc. Listing Department, Corporate Disclosure Office, Planning & Coordination, Listed Company Services