TOYO ENGINEERING CORPORATION [6330.T]
TOKYO, Apr 01 (Pulse News Wire) – TOYO ENGINEERING CORPORATION (6330.T) announced today that some holders of its A-type preferred shares, IntegralTeam Investment Limited Partnership and Innovation Alpha Team L.P., exercised their right to exchange a portion of those shares for ordinary shares based on Article 12, Paragraph 6 of the company’s articles of incorporation. As part of this conversion, 762,800 A-type preferred shares will be exchanged for 762,800 ordinary shares.
Following the conversion, the remaining number of A-type preferred shares held by IntegralTeam Investment Limited Partnership and Innovation Alpha Team L.P. will be reduced to 66,400 and 500,100 respectively.
Details of the A-type preferred shares can be found in 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 stock and reserve fund amount. Post-conversion, the total outstanding share count will consist of 58,328,707 ordinary shares and 6,240,200 A-type preferred shares, with 5,740,100 self-held A-type preferred shares.
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