Forum Engineering Plans Class A Share Issue as KJ003 Pushes for Full Takeover

MT Newswires Live
Jan 26

Forum Engineering (TYO:7088) will hold an extraordinary shareholders' meeting on Feb. 25 to approve a series of measures tied to its privatization by KJ003, according to a Monday filing on the Tokyo Stock Exchange.

The proposals include issuing Class A shares through a third-party allotment, reducing stated capital and capital reserves, and a share consolidation to squeeze out remaining minority shareholders.

The moves follow KJ003's completed tender offer for Forum Engineering's shares and share options in December, after which it held about 55.9% of the company.

If the planned share buyback and consolidation proceed, Forum Engineering's stock is expected to be delisted from the Tokyo Stock Exchange's Prime Market around May 13.

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