TOKYO, July 22, 2020 (GLOBE NEWSWIRE) -- LIM Advisors Limited (“LIM Advisors”), which represents investment funds that collectively own shares of NichiiGakkan Co., Ltd. (“NichiiGakkan” or the “Company”) (TSE:9792), today sent a letter to the Company with questions on the governance process and disclosures surrounding the proposed MBO of the Company announced on 8 May 2020 (the “Letter”). Questions were focused on the following key topics 1) conservative financial forecasts which understate the corporate value; 2) financial sponsor`s exclusivity; 3) independence of Board members after the Transaction; 4) financial advisor’s potential conflicts of interest; 5) low offer premium; 6) lack of clarity on buyout structure; and 7) policy on handling alternative bids for the Company. We believe that answers to the above questions will be of significant interest to all shareholders of the Company as well as the governmental bodies who have been working to promote Abenomics and restoring Japan as a global financial center.
LIM Advisors continues to offer an opportunity for the Company to elaborate on the issues via public debate. The full text of today’s letter is below and can be found at (https://www.limadvisors.com/press-release).
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About LIM Advisors
LIM Advisors is a multi-strategy investment manager with over 24 years of experience in equity and credit investments across the Asia-Pacific region. LIM Advisors was founded in 1995 and has its headquarters in Hong Kong with offices in Tokyo and London. LIM Advisors has been investing in Japan for over 20 years and opened its Tokyo office in 2002.
Media Contacts
VOX Global Japan K.K.
Minoru Koshida
Minoru.Koshida@voxglobalasia.com
TEL: 080-2208-9698
Rie Sugiyama
Rie.Sugiyama@voxglobalasia.com
TEL: 080-2042-2852
source: LIM Advisors
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