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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Tosoh Corporation | TG:TOS | Tradegate | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 12.30 | 11.90 | 12.20 | 0.00 | 09:08:43 |
RNS Number:8559R Toshiba Corporation 10 November 2003 November 10, 2003 Toshiba Corporation Toshiba Corporation to Sell All Its Own Stocks of its Affiliate Company, Toshiba Tungaloy Co., Ltd. Tokyo--Nomura Principal Finance Co., Ltd. (NPF) and the management of Toshiba Tungaloy Co., Ltd. (Tungaloy) today announced a proposed management buy-out of all outstanding shares in Tungaloy that will be supported by NPF. Toshiba has decided to accept the offer and sell its holding, subject to certain conditions. SHORT PARAGRAPH ON WHAT TUNGALOY IS/DOES... Established in 1934, Tungaloy develops and supplies products such as various kinds of metal cutting tools, wear resistant tools, electronic parts for manufacturing tools, civil engineering and building construction tools and friction materials. The company recorded consolidated sales of 34.7 billion yen in FY2002 and has 1,875 employees. Toshiba Corporation holds a 29,414,085 shares in the company, equivalent to 36.99% of Tungaloy's total outstanding stock. The management of Tungaloy believes that further growth and development would best be secured by a shift to autonomous management of a self-sustaining company. This conviction also reflects differences in the strategies and ultimate business directions of Tungaloy and Toshiba Group. Toshiba accepts this analysis and decided to accept the buy-out bid. About Nomura Principal Finance Co., Ltd. Nomura Principal Finance Co., Ltd. is a 100% subsidiary of Nomura Holdings, Inc. the company provides alternative solutions to non-performing operations, management succession problems and restructuring of shareholder ownership, suggesting options such as spin-offs of non-core business operations, management buy-outs (MBOs) and so on. Press Contact: Corporate Communications Office: press@toshiba.co.jp # # # This information is provided by RNS The company news service from the London Stock Exchange END DISURRWROURAARA
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