Shinsei Bank, Limited and GE Consumer Finance Co., Ltd., a wholly owned subsidiary of Shinsei Bank Group Company, which had launched a tender offer for the shares of common stock of SHINKI Co., Ltd., a consolidated subsidiary on February 4, 2009, concluded the Tender Offer on March 18, 2009.
The Tender Offerors and Subject Company hereby also concluded the planned capital reorganization related to the joint Tender Offer which was stipulated in the “Basic Agreement Concerning Business Integration and Reorganization” dated February 3, 2009, which was previously announced in “Shinsei Bank Announces Basic Agreement Concerning Business Integration and Reorganization of its Consumer Finance Business” dated February 3, 2009. The Tender Offer provided an opportunity for the shareholders of the Subject Company to sell their common stock, and as the Tender Offerors’ shareholding ratio in the Subject Company reached 96.8%, surpassing 90%, the Tender Offerors will execute the process to acquire 100% interest in the Subject Company (“Complete Control Procedures”) as described in “4. Policy Following the Tender Offer” below.
Through the Complete Control Procedures, the stock of the Subject Company is scheduled to be delisted. The details of the Complete Control Procedures, as well as the timing in which the Subject Company will be delisted, shall be determined upon discussions with the parties involved. Through the aforementioned process, the Shinsei Bank Group will pursue the maximization of the operational efficiency of the consumer finance business operated by GECF and SHINKI in order to correspond to the enforcement of the coming amended Money-Lending Business Law and Investment Deposit and Interest Rate Law.
D.C.