Tohoku Steel Co., Ltd.
Notice of approval resolutions regarding stock consolidation, abolition of the unit share system, and partial amendment of the Articles of Incorporation
Approval of stock consolidation at the general meeting of shareholders; consolidation ratio of 631,000 shares into 1 share; delisting date scheduled for October 19, 2026; fractional share treatment to be disclosed to bidders after court approval and the corresponding consideration to be paid to shareholders; amendments to the Articles of Incorporation accompany delisting; effective date scheduled for October 21, 2026; following the fractional share treatment, shareholders to receive a cash equivalent of 4,491 yen.
Key Figures
- 631,000 shares consolidated into 1 share
- Total issued shares (before effectiveness) 7,427,759 shares
- Total issued shares (after effectiveness) 11 shares
AI要約
Overview
Tohoku Special Steel approved Stock Consolidation (Proposal 1) and partial amendment of the Articles of Incorporation (Proposal 2) at an extraordinary general meeting. The consolidation reduces 631,000 shares to 1 share, resulting in an outstanding issued share total of 7,427,748 shares (before effectiveness: 7,427,759; after consolidation: 11 shares, with a planned authorized shares of 44). Delisting is planned for October 19, 2026, applying the consolidation effective date of October 21, 2026, with the amendment of the Articles of Incorporation. After court approval, fractional shares will be sold to the tender offeror, and proceeds distributed to shareholders.
Future Schedule and impacts on shareholders
As delisting is expected, trading in the market will be unavailable. Fractional share handling will be implemented once court approval is obtained, with fractional shares sold to the tender offeror and the proceeds distributed to shareholders. Shareholders will have the right to receive consideration by the day prior to delisting for those listed in the share register. The consolidation will significantly reduce the total issued shares, and amendments to the Articles of Incorporation for a unit share system will also be implemented.
Tohoku Special Steel Co., Ltd.
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