Market News
Aug. 08, 2024 TSE Designation of Securities Under Supervision (Confirmation): CDG Co.,Ltd.
TSE has designated an issue as Securities Under Supervision (Confirmation) as follows.
| １．Issue Name | CDG Co.,Ltd. stock (Code: 2487, Market Segment: Standard Market) |
| ２．Period of Designation as Securities Under Supervision (Confirmation) |
From Aug. 8, 2024 (Thu.) to the day when TSE determines whether the company has fallen under the delisting criteria |
| Reason (Related Clause) |
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 (Enforcement Rules for Securities Listing Regulations, Rule 604, Paragraph 1, Item (24)) |
| ３．Details of Reason | Today, CDG Co.,Ltd. (hereinafter "the Company") has expressed its approval of a takeover bid by CL Holdings Inc. (Code: 4286, Market Segment: Standard Market) (hereinafter "the Bidder"), which aims for the delisting of the Company’s shares (hereinafter "the Shares"). In addition, the Bidder will request the following procedures for the delisting of the Shares after the completion of the takeover bid. (1) A stock swap (hereinafter "the Stock Swap") will be conducted, in which shares of the Bidder’s stock, which is a listed stock, etc. on TSE, are offered in exchange for the Shares. (2) If the procedure described in (1) above needs to be approved at the Bidder’s general shareholders meeting and the agenda item regarding the Stock Swap is not approved at such a meeting, a reverse stock split (hereinafter "the Reverse Stock Split") will be conducted at a ratio where each of the Shares held by shareholders other than the specified entity/entities will be converted into a fraction of a share. If the procedure described in (1) above is conducted, TSE will delist the Shares without designating them as Securities to Be Delisted. If the procedure described in (2) above is conducted, TSE will designate the Shares as Securities to Be Delisted and delist them when the agenda item regarding the Reverse Stock Split is approved at the Company's general shareholders meeting. Since the procedure described in (2) above may be implemented in this case, TSE has designated the Shares as Securities Under Supervision (Confirmation). |
Designation History of Securities Under Supervision & Securities to Be Delisted
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