TSE News
Entry into Grace Periods pertaining to Reassignment to the 2nd Section from the 1st Section and Delisting - ARRK CORPORATION -(The Japanese version was publicized on Jun. 22, 2011.)
Update : Jun. 23, 2011
[Tokyo Stock Exchange, Inc.]
ARRK CORPORATION stock (Code: 7873, Market : 1st Section) (hereinafter referred to as "the Issue") enters the grace periods pertaining to reassignment to the 2nd Section from the 1st Section and delisting as follows.
1. Entry into Grace Period Pertaining to Delisting
| 1.Grace Period Pertaining to Reassignment | From Apr. 1, 2011 (Fri.) to Mar. 31, 2012 (Sat.) |
| Provision | Securities Listing Regulations, Rule 311, Paragraph 1, Item 5 applied in Rule 707, Paragraph 3 of the same regulations |
| 2. Reason | TSE confirmed in the consolidated balance sheet in the Securities Report submitted by ARRK CORPORATION (hereinafter referred to as "the Company") that the Company had fallen into liabilities in excess of assets as of the end of the business year (Mar. 31, 2011). However, the Company is currently under the support of Enterprise Turnaround Initiative Corporation of Japan (hereinafter referred to as "ETIC"). After examining the reconstruction plan based on such support by ETIC announced by the Company on Mar. 31, 2011, TSE deemed said plan as appropriate. As a result, instead of being reassigned to the 2nd Section, the Issue enters the grace period pertaining to reassignment to the 2nd Section from the 1st Section. |
- (*)If ETIC does not make a purchase decision, etc. pertaining to the liabilities of the Company, the stock of the Company will be reassigned to the 2nd Section.
2. Entry into Grace Period Pertaining to Delisting
| 1.Grace Period Pertaining to Delisting | From Apr. 1, 2011 (Fri.) to Mar. 31, 2012 (Sat.) |
| Provision | Securities Listing Regulations, Rule 601, Paragraph 1, Item 5 applied in Rule 707, Paragraph 4 of the same regulations |
| 2. Reason | Due to the Company falling into liabilities in excess of assets as of the end of the business year (Mar. 31, 2011), which TSE confirmed in the consolidated balance sheet in the Securities Report submitted by the Company, the Issue enters the grace period pertaining to delisting. |
- (*)If the Company remains in a state of liabilities in excess of assets on Mar. 31, 2012, and plans to come out of this state under the support of ETIC by Mar. 31, 2013, the grace period will end on Mar. 31, 2013.
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