Idemitsu Kosan Co., Ltd. - Announcement Regarding Change in Major Shareholder

Source Press Release
Company IdemitsuRoyal Dutch ShellShowa Shell 
Tags Corporate Deals, Deals, Refining & Marketing Activities
Date April 01, 2019

Idemitsu Kosan Co., Ltd. (the “Company”) hereby announces that its major shareholder changed on April 1, 2019, as follows.

1. Background of the Change

As announced in the press release titled “Announcement Regarding Execution of Share Exchange Agreement and Business Integration” on October 16, 2018, the Company implemented a share exchange (the “Share Exchange”), in which the Company will become a wholly owning parent company and Showa Shell Sekiyu K.K. will become a wholly owned subsidiary company, effective April 1, 2019. As a result, while the number of shares owned by Nissho Kosan K.K., which was the Company’s major shareholder, does not change, Nissho Kosan K.K. is no longer the major shareholder, because the ratio to the number of total voting rights has changed from 13.73 % to 8.98 %.

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Source: EvaluateEnergy® ©2019 EvaluateEnergy Ltd