ITOCHU-SHOKUHIN Co.,Ltd. [2692.T]
TOKYO, Apr 28 (Pulse News Wire) – Itochu-shokuhin CO.,LTD. (2692.T) canceled its extraordinary shareholders' meeting scheduled for April 28 due to the approval of a share transfer request from parent company Itochu Corporation.
According to the notice released on March 31, the public tender offer by joint venture FMDI, controlled by Itochu Corporation, had reached the necessary threshold of holding more than 25% of the total voting rights of ITOCHU-SHOKUHIN's shares. As a result, Itochu Corporation notified ITOCHU-SHOKUHIN of its intention to exercise the statutory right to demand the sale of shares under Article 179(1) of the Companies Act. Following the receipt of this notification today, ITOCHU-SHOKUHIN approved the share transfer request, leading to the cancellation of the planned extraordinary shareholders' meeting.
Details of the share transfer request can be found in the company’s latest announcement published today. This decision follows the earlier public tender offer results disclosed on April 10, which indicated that FMDI's acquisition of shares had surpassed the required percentage. Consequently, the previously set base date for convening the extraordinary meeting has also been revoked.
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