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inspec Inc to Issue New Shares; Announces Changes in Shareholding Structure

Friday, 4 Oct 2013 03:00am EDT 

inspec Inc announced that it will issue 8,139 shares of its common stock for JPY 36,864 per share or JPY 300,036,096 in total to a Tokyo-based investment partnership, an Osaka-based investment company and a Tokyo-based investment company, through a private placement, effective October 22, 2013. As a result, the Tokyo-based investment partnership will become the top shareholder of the Company with 24.31% voting rights and the Osaka-based investment company will become the third major shareholder of the Company with 13.51% voting rights, wile President of the Company, Mr. Masashi Sugawara will become the second major shareholder of the Company with 13.59% voting rights, down from 22.85% and another individual will become the fourth major shareholder of the Company with 7.35% voting rights, down from 12.36%, effective October 22, 2013. 

Company Quote

-32.0 -3.93%
8:53pm EDT