Effissimo Capital Management Pte Ltd. through its fund ECM Master Fund completed the acquisition of an additional 5.29% stake in Saison Information Systems Co., Ltd..
March 24, 2015 at 09:30 am IST
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Effissimo Capital Management Pte Ltd. through its fund ECM Master Fund offered to acquire an additional 5.29% stake in Saison Information Systems Co., Ltd. (JASDAQ:9640) for ¥1.5 billion on February 9, 2015. ECM will acquire 0.86 million shares for ¥1700 per share and pursuant to completion of offer will own 5.35 million shares, representing 33% stake. In the Board of Directors meeting OF Saison Information Systems on March 5, 2015, the Board of Directors, including 2 external Directors, have unanimously announced opposing opinions to this tender offer, and will not recommend this tender offer to shareholders. The offer period will run from February 10 to March 24, 2015. Settlement will start on March 30, 2015. Nomura Securities Co., Ltd. acted as financial advisor and Mori Hamada & Matsumoto Law acted as legal advisor to Saison Information Systems.
Effissimo Capital Management Pte Ltd. through its fund ECM Master Fund completed the acquisition of an additional 5.29% stake in Saison Information Systems Co., Ltd. (JASDAQ:9640) on March 24, 2015.
Saison Technology Co Ltd, formerly known as Saison Information Systems Co Ltd is a Japan-based company mainly engaged in the provision of information technology (IT) service. The Company operates through four business segments. The host unix linkage file transfer (HULFT) business provides sales and support services for main products, the HULFT product group and the DataSpider product group, which are the standard domestic data linkage software. The data platform business utilizing HULFT and DataSpider to connect internal and inter-company systems and data with software as a service (SaaS), provides various services that improve the efficiency of customer operations, support decision-making by visualizing management information, and lead to management reform. The distribution IT services business provides support for digital transformation (DX) in distribution retail, aviation, among others. The financial IT services business provides DX support for the financial industry.
Effissimo Capital Management Pte Ltd. through its fund ECM Master Fund completed the acquisition of an additional 5.29% stake in Saison Information Systems Co., Ltd..