Announcement Concerning USHIO INC. Making ADTEC Engineering Co., Ltd. Its Wholly-Owned Subsidiary through a Share Exchange.
USHIO INC. (“USHIO”) and ADTEC Engineering Co., Ltd. (“ADTEC Engineering”) hereby announce that they have determined, at their respective meetings of the board of directors held today, to implement a share exchange (the “Share Exchange”) in which USHIO will be a wholly-owning parent company and ADTEC Engineering will be a wholly-owned subsidiary, and that they have executed a share exchange agreement (the “Share Exchange Agreement”), as set out below.
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