Market News
Apr. 15, 2025 TSE Partial correction to "Details of Reason" for a Security Under Supervision (Confirmation): Techpoint,Inc.
TSE designated Techpoint,Inc. as a Security Under Supervision (Confirmation) on Jan. 15, 2025. However, TSE has made a partial correction to "3. Details of Reason" as follows.
Corrections are underlined.
| １．Issue Name | Techpoint,Inc. JDR (Code: 6697, Market Segment: Growth Market (Foreign Stock)) |
| ２．Period of Designation as Securities Under Supervision (Confirmation) |
From Jan. 15, 2025 (Wed.) 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 a resolution related to a share exchange in exchange for other than listed stock was adopted at a board of directors meeting (Enforcement Rules for Securities Listing Regulations, Rule 604, Paragraph 1, Item (19)) (Note) In applying the rules, TSE has taken into account the legal systems, practices and customs, etc. of the home country, etc. |
| ３．Details of Reason | (Before correction) Techpoint,Inc. (hereinafter "the Company") has announced today that the Company has decided on a merger involving the Company, ASMedia Technology Inc. (hereinafter "ASMedia"), and ASMedia’s wholly-owned subsidiary Apex Merger Sub Inc. (hereinafter "Merger Sub") pursuant to Delaware state law, where cash is distributed to the Company’s shareholders in exchange for the Company’s shares. The merger would result in Merger Sub being absorbed into the Company and the Company becoming the wholly-owned subsidiary of ASMedia. The Company has announced that it would put the merger on the agenda of its general shareholders meeting. If the agenda item regarding the merger is approved by a resolution at the general shareholders meeting of the Company, the JDR of the Company will be delisted. As such, based on this announcement, TSE deems that the JDR of the Company is likely to be delisted and designates such JDR as a Security Under Supervision (Confirmation). (After correction) Techpoint,Inc. (hereinafter "the Company") has announced today that the Company has decided on a merger involving the Company, ASMedia Technology Inc. (hereinafter "ASMedia"), and ASMedia’s wholly-owned subsidiary Apex Merger Sub Inc. (hereinafter "Merger Sub") pursuant to Delaware state law, where cash is distributed to the Company’s shareholders in exchange for the Company’s shares. The merger would result in Merger Sub being absorbed into the Company and the Company becoming the wholly-owned subsidiary of ASMedia. The Company has announced that it would put the merger on the agenda of its general shareholders meeting. If the closing conditions are satisfied, including that the agenda item regarding the merger is approved by a resolution at the general shareholders meeting of the Company, the JDR of the Company will be delisted. As such, based on this announcement, TSE deems that the JDR of the Company is likely to be delisted and designates such JDR as a Security Under Supervision (Confirmation). |
Designation History of Securities Under Supervision & Securities to Be Delisted
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