PARK24 Co., Ltd.
Notice Regarding Movement (Liquidation) of Specific Subsidiaries
The Company resolved to liquidate its UK intermediate holding companies PARK24 INTERNATIONAL LIMITED and MEIF II CP HOLDINGS 2 LIMITED. This measure accompanies the restructuring of the UK parking business, with the liquidation completion date undecided.
Key Figures
- PARK24 INTERNATIONAL LIMITED Outstanding Shares: 62,671,600,815 shares
- MEIF II CP HOLDINGS 2 LIMITED Outstanding Shares: 4,994,704,900 shares
- PARK24 INTERNATIONAL LIMITED Net Assets: 11,285 thousand GBP (FY Sep 2023) → 4,453 thousand GBP (FY Sep 2025)
AI要約
Reason for Movement (Liquidation)
The Group resolved to liquidate its UK intermediate holding companies PARK24 INTERNATIONAL LIMITED and MEIF II CP HOLDINGS 2 LIMITED. As part of a review of overseas operations under the medium-term management plan through FY Oct 2027, after considering the future of the UK parking business and taking into account the development status of Times Parking UK as of the end of February 2026, it was judged difficult to make additional investments. The decision was also influenced by the insolvency proceedings initiated by NATIONAL CAR PARKS LIMITED, a UK parking business operator. Consequently, liquidation of both companies was decided.
Outlook and Changes in Capital Relationships
The liquidation procedure will be initiated in accordance with local laws and regulations, but the specific timeline for its completion is undecided. Upon liquidation, TIMES24 UK LIMITED and S&K CAR PARK MANAGEMENT LTD, consolidated subsidiaries of MEIF II CP HOLDINGS 2 LIMITED, will be reorganized directly under Times 24 Co., Ltd. Consequently, the UK business will shrink from large-scale parking lots to mainly small- and short-term lease contracts, aiming to continue on a minimal scale.
