Steel Partners Japan Commences Tender Offer for Tenryu Saw; Highlights Desire to Work with Management.TOKYO -- Steel Partners Japan Strategic Fund (Offshore), L.P. (the "Fund") today announced the commencement of a tender offer for all the outstanding shares of Tenryu The Japanese proper name Tenryū can refer to several items. Places:
The final day that a futures or options contract may trade or be closed out before delivery of the underlying asset must occur. Notes: If the buying and selling parties do not arrange an alternate agreement, the physical commodity must be delivered from prior to the Fund's notification to the Company of its intention to commence a tender offer. At the same time, the Fund issued the following statement to investors and employees of Tenryu, outlining its desire to continue working with the existing management team in a constructive and positive spirit: "You should know that if we are successful with our tender offer, we do not intend to get involved in the day-to-day operations of the Company. We respect the experience and ability of Tenryu's existing management team and intend to support the team in every way we can. Steel Partners has a long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. successful track record of investing in industrial manufacturing companies, both in Japan and globally. We believe our global network and international experience will be a great resource for Tenryu Saw Mfg. Co., Ltd., helping Tenryu grow and prosper over the coming years. "We believe our offer will present an excellent opportunity for investors, the Company and its employees. Existing shareholders gain liquidity and a chance to sell at a considerable premium to market price. Tenryu will benefit from having a single, supportive investor that is ready to offer expertise, capital and global resources to help the Company grow and prosper." The Fund is currently the largest shareholder in Tenryu, owning 9.04% of the Company's shares with voting rights Voting rights The right to vote on matters that are put to a vote of security holders. For example the right to vote for directors. voting rights The type of voting and the amount of control held by the owners of a class of stock. , as of May 23, 2007. Public Notice of Commencement of Tender Offer Steel Partners Japan Asset Management, L.P. 24 Federal Street, Boston, Massachusetts, U.S.A. Steel Partners Japan Strategic - Fund SPVI LLC Manager: Warren Lichtenstein To whom it may concern: Steel Partners Japan Strategic Fund - SPVI LLC (the "Tender Offeror") hereby gives public notice of the following tender offer pursuant to the Securities and Exchange Law of Japan: [TABLE OMITTED] The Electronic Public Notice Address for this notice is: https://info.edinet.go.jp/EdiHtml/main.htm About the Fund Steel Partners Japan is a long-term relationship/active value investor that seeks to work with the management of its portfolio companies to increase corporate value for all stakeholders Stakeholders All parties that have an interest, financial or otherwise, in a firm-stockholders, creditors, bondholders, employees, customers, management, the community, and the government. and shareholders. About the Tender Offeror The Tender Offeror is a limited liability company established by the Fund under the laws of the State of Delaware Delaware, state, United States Delaware (dĕl`əwâr, –wər), one of the Middle Atlantic states of the United States, the country's second smallest state (after Rhode Island). , U.S.A. |
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