MBK discloses previously unreported details on 2017 share issuance

MBK (TSE:3121) announced today the belated disclosure of details surrounding a 2017 third-party allotment of shares and stock acquisition rights to White Knight Investment Limited. The announcement addresses deficiencies identified during an internal investigation and subsequent review by a third-party committee, which found that certain developments related to past disclosures were not adequately reported. Notably, the previously unreported information concerns a financial advisory agreement with Capital Solutions Co., later transferred to Blitz Co., related to the share issuance. As a result of the transfer, MBK paid JPY 27,010,604 to Blitz Co. for financial advisory fees related to the exercise of 17,359 stock acquisition rights (1,735,900 shares) after 2021. The company has now made a correction to its original announcement which was made on September 6, 2017.