Market News
Mar. 31, 2022 TSE Decision on Delisting, etc.: Sado Steam Ship Co.,Ltd.
TSE has decided on delisting and designation as Securities to Be Delisted as follows.
１．Delisting and Designation as Securities to Be Delisted
| （１）Issue Name | Sado Steam Ship Co.,Ltd. stock (Code: 9176, Market Division: JASDAQ Standard) |
| （２）Period of Designation as Securities to Be Delisted | From Mar. 31, 2022(Thu.) to May 5, 2022(Thu.) |
| （３）Delisting Date | May 6, 2022(Fri.) (Note) In cases where circumstances in which the company should be promptly delisted occur, TSE may change the period of designation as Securities to Be Delisted and the delisting date. |
| （４）Provision | Securities Listing Regulations, Rule 604-2, Paragraph 1, Item (3) (related rule: Securities Listing Regulations, Rule 601, Paragraph 1, Item (18)-3) (due to falling under a case where the company implements 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) |
| （５）Reason | At the general shareholders meeting of Sado Steam Ship Co.,Ltd. (hereinafter ""the Company"") held on March 25, 2022, the 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 Michinori Holdings, Inc. (unlisted) and four other shareholders will be less than one share, which is on condition of the issuance of common shares, class shares and share acquisition rights to Michinori Holdings, Inc. through a third-party allotment and the issuance of class shares to Daishi Hokuetsu Bank, Ltd. (unlisted) through a third-party allotment (collectively, hereinafter ""the Issuance of Shares, etc.""), was approved. As the Issuance of Shares, etc. was implemented today, said reverse stock split has become effective as of May 10, 2022. |
２．Exclusion from Securities in Lieu of Money
The stock of the Company will be excluded from securities in lieu of money for the following items from Apr. 1, 2022(Fri.) inclusive.
- Customer margin for margin transactions and when-issued transactions
- Trading margin for when-issued transactions
- Trading participant security money
- Participant bonds
Designation History of Securities Under Supervision & Securities to Be Delisted
DISCLAIMER: This translation may be used for reference purposes only. This English version is not an official translation of the original Japanese document. In cases where any differences occur between the English version and the original Japanese version, the Japanese version shall prevail. This translation is subject to change without notice. Tokyo Stock Exchange, Inc. and/or Japan Exchange Regulation shall individually or jointly accept no responsibility or liability for damage or loss caused by any error, inaccuracy, misunderstanding, or changes with regard to this translation.
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