TOKYO - (JCN Newswire) - As stated in "Notice of Execution of Basic Agreement regarding Tender Offer over Subsidiary" as of March 4, 2021, Showa Denko K.K. (hereinafter referred to as the "Company") entered into a basic agreement setting forth among others, the application for 3,160,306 shares (hereinafter referred to as the "Applied Shares") of SHOKO CO., LTD. (Code number 8090, listed on the First Section of Tokyo Stock Exchange; hereinafter referred to as "SHOKO"), the Company's consolidated subsidiary, among the shares of SHOKO owned by the Company, in a tender offer (hereinafter referred to as the "Tender Offer") for the common shares issued by SHOKO (hereinafter referred to as the "SHOKO Shares") with the Tender Offer being made by SKT Holdings Ltd., (hereinafter referred to as "SKTHD"), a wholly-owned subsidiary of iSigma Business Advancement Fund III Investment LLP managed and operated by iSigma Capital Corporation (hereinafter referred to as "iSigma Capital").Thereafter, the Company had applied the Applied Shares for the Tender Offer in accordance with the basic agreement above and the Tender Offer successfully ended on April 15, 2021.
The Company hereby announces that, as a result of the Tender Offer, the Company will transfer the Applied Shares (3,160,306 SHOKO Shares) to SKTHD.
Full release can be viewed at www.sdk.co.jp/assets/files/english/news/2021/20210416_sdknewsrelease_e.pdf
About Showa Denko K.K.
Showa Denko K.K. (SDK; TSE: 4004, ADR: SHWDY) is a major manufacturer of chemical products serving heavy industry to computers and electronics. Our Petrochemicals segment provides cracker products such as ethylene and propylene; Chemicals provides high-performance gases and chemicals to semicon and other industries; Inorganics provides ceramic products: alumina, abrasives, refractory/graphite electrodes and fine carbons. Aluminum provides aluminum materials and high-value-added fabricated aluminum; Electronics provides HD media, compound semiconductors such as ultra high-bright LEDs and rare earth magnetic alloys; Advanced Battery Materials (ABM) provides lithium-ion battery components. Please visit us at www.sdk.co.jp/english/.
Media contact:
Showa Denko K.K., CSR & Corporate Communication Office, Tel: +81-3-5470-3235