Tokyo Chuo Auction Holdings Ltd. Announces Dispatch of Composite Document and Board Changes in Ongoing M&A Transaction

Reuters
May 30
Tokyo Chuo Auction Holdings Ltd. Announces Dispatch of Composite Document and Board Changes in Ongoing M&A Transaction

Tokyo Chuo Auction Holdings Ltd. has announced the dispatch of a composite document related to a transaction involving mandatory unconditional cash offers. These offers are being made by LEGO Securities Limited and Fortune Origin Securities Limited on behalf of ESSA Financial Group Ltd. The aim is to acquire all issued shares of Tokyo Chuo Auction Holdings Ltd., excluding those already owned or to be acquired by ESSA Financial Group Ltd. and parties acting in concert with them. Additionally, the transaction includes canceling all outstanding share options of Tokyo Chuo Auction Holdings Ltd. The announcement also includes a change in the board composition of the company. The sole director of ESSA Financial Group Ltd., Mr. Huang Shikun, and the chairman of Tokyo Chuo Auction Holdings Ltd., Mr. Ando Shokei, have endorsed the announcement.

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