TOYO ENGINEERING CORPORATION [6330.T]
TOKYO, Apr 10 (Pulse News Wire) – TOYO ENGINEERING CORPORATION (6330.T) announced today that its holders, Integral Team Investment Limited Partnership and Innovation Alpha Team L.P., exercised their right to convert A-priority shares into common stock based on Article 12 of the company’s articles of incorporation. As a result of this conversion, 500,100 A-priority shares were converted into 500,100 common shares.
Prior to the conversion, there were 500,100 A-priority shares held by the two entities, with 66,400 being specifically converted. Following the conversion, the number of A-priority shares outstanding dropped to zero. For more detailed information on the A-priority shares, refer to the notice dated November 28, 2018, concerning the issuance of preferred shares through private placement, partial amendment of the articles of incorporation, and reduction in capital and reserve funds.
Post-conversion, the total number of issued shares increased by 500,100 common shares, bringing the total to 59,328,907 common shares. Previously, there were 58,828,807 common shares outstanding, with 5,740,100 self-held shares. After the conversion, the self-held share count adjusted to 5,240,000.
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