Forum Engineering sets record date for privatization vote

Forum Engineering Inc. announced on December 15, 2025, the establishment of December 31, 2025, as the record date for an Extraordinary General Meeting of Shareholders, anticipated for late February 2026. This meeting is pivotal for a series of transactions intended by KJ003 Co., Ltd. to take Forum Engineering private. The transactions include a tender offer for all company securities and share options (excluding treasury shares), followed by a tender offer for own shares to acquire stock from existing shareholders, including La Terre Holdings, the largest shareholder.

The agenda for the Extraordinary General Meeting, if convened, will include amendments to the articles of incorporation for establishing Class A Shares, a capital increase through a third-party allotment of these Class A Shares to the tender offeror, and a reduction in the company's stated capital and capital reserves. These steps are designed to secure funds and distributable amounts for the tender offers. Should KJ003 not acquire all company shares through the tender offers, a squeeze-out procedure via share consolidation will be implemented to make the tender offeror the sole shareholder.

The company will separately announce the date, venue, and detailed agenda items if the Extraordinary General Meeting proceeds. However, if the initial tender offer by KJ003 is not successfully completed, Forum Engineering does not plan to convene the meeting or utilize the established record date. Public notice of the record date will be made electronically on December 16, 2025, via the company's website.