Market News
Mar. 26, 2021 TSE Designation of Securities Under Supervision (Confirmation):WATABE WEDDING CORPORATION
TSE has designated an issue as Securities Under Supervision (Confirmation) as follows.
| １．Issue Name | WATABE WEDDING CORPORATION stock (Code: 4696, Market Division: 1st Section) |
| ２．Period of Designation as Securities Under Supervision (Confirmation) | From Mar. 19, 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 (8) and Item (21)-3 (due to TSE deeming that the stock may fall under cases where a listed company has made a resolution or decision, which led to a situation such as commencement of bankruptcy proceedings, rehabilitation proceedings, or reorganization proceedings on the basis of the provisions of laws or where it falls under a situation equivalent to these, and 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 | On Mar.19,2021, WATABE WEDDING CORPORATION (hereinafter "the Company") adopted a resolution and made an announcement that it will put forth an agenda item at an upcoming general shareholders meeting regarding a reverse stock split with the ratio at which the number of shares held by the shareholders (excluding Kowa Company, Ltd. (unlisted)) of the Company will be less than one share, on the condition of the adoption of a proposed corporate rehabilitation plan that includes an agreement on the cancellation of debt with the creditors of the Company and the issuance of new shares (hereinafter "the new shares") to Kowa Company, Ltd. through a third-party allotment. If the amount of debt subject to cancellation is equivalent to or more than ten-hundredths (10/100) of the total amount of debt of the Company as of the end of the most recent business year, the stock of the Company will be delisted. Also, if the agenda item is approved in a resolution at the general shareholders meeting of the Company and the new shares are issued, 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). |
Designation History of Securities Under Supervision & Securities to Be Delisted
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