Software Service, Inc.
Notice Regarding Change of Major Shareholder and Acts Equivalent to a Tender Offer
MM Holdings is scheduled to acquire 227,200 shares and will become the new largest shareholder. The voting rights ratio after the change will increase to 18.21%. The transaction qualifies as a purchase activity designated by cabinet order as an act equivalent to a tender offer under the Financial Instruments and Exchange Act. There is no impact on management structure or business performance.
Key Figures
- Issued Shares Outstanding: 5,488,000 shares
- MM Holdings Shares Held After Change: 827,200 shares
- New Shareholder Voting Rights Ratio: 18.21%
AI要約
Capital Policy and Change of Major Shareholder
The document states that MM Holdings resolved at the Board of Directors to acquire 227,200 ordinary shares of Software Service, Inc., and that MM Holdings is expected to become the new largest shareholder. After the acquisition, its holding ratio will be 18.21%, making it the largest shareholder on a voting rights basis. The acquisition corresponds to a "purchase activity designated by cabinet order as an act equivalent to a tender offer" under Article 167, Paragraph 1 of the Financial Instruments and Exchange Act and Article 31 of the Enforcement Order.
Impact and Future Outlook
The transaction itself is stated to have no impact on the management structure or business performance; however, the change in the largest shareholder could affect decision-making processes. Mr. Masaru Miyazaki will continue to serve as Representative Director and Chairman, and no changes to management policy are indicated. The application as a purchase activity equivalent to a tender offer is treated as meeting the legal procedural requirements.
Software Service, Inc.
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