Company Name: | Universal Entertainment Corporation |
Representative: | Tomohiro Okada Representative Director & President |
(TSE STANDARD Code: 6425) | |
Contact: | Daisuke Shibata Corporate Planning Office |
( https://uct.universal-777.com/m/contact-en) |
(Progress of Disclosed Matter) Notice Concerning Further Reschedule of Execution Date of Transfer of Shares in Relation to Asiabest Group International Inc.
As announced in "Notice of Conclusion of Share Transfer Agreement in relation to Asiabest Group International Inc." on Dec 6, 2024, Tiger Resort Asia Limited (hereinafter referred to as "TRA"), the subsidiary of Universal Entertainment Corporation (hereinafter referred to as "UEC"), is to transfer all the shares of Asiabest Group International Inc. (hereinafter referred to as "ABG"), in hand to PREMIUMLANDS CORP. (hereinafter referred to as "PLC") and the preparation of the transfer of shares have been progressing.
However, as announced in "(Progress of Disclosed Matter) Notice Concerning Reschedule of Execution Date of Transfer of Shares in Relation to Asiabest Group International Inc." on Feb 13, 2025 and "(Progress of Disclosed Matter) Notice Concerning Further Reschedule of Execution Date of Transfer of Shares in Relation to Asiabest Group International Inc." on Apr 7, 2025, the execution date of the transfer of shares was once rescheduled, and is determined to be further rescheduled. Details are as follows.
Reason of Further Reschedule
TRA has been progressing the preparation of the transfer of shares after the Share Transfer Agreement with PLC had been conducted. However, although the preparation for the application of lifting the suspension of trading in the Philippines Stock Exchange, which is mandatory for completion of the transfer of shares, has been progressing, additional time beyond our expectation is required for the completion of the application. This delay leads to rescheduling of the execution date of the transfer of shares. This reschedule has no effect on the commitment of both TRA and PLC to execute the transfer of shares based on the Share Transfer Agreement.
Details of Further Reschedule
Before the further reschedule
After the further reschedule
Execution date of the transfer of shares
End of May, 2025 (Estimated)
End of July, 2025 (Estimated)
Outlook
The view of UEC is that the impact of this matter on its consolidated business results for the fiscal year ending December 31, 2025 is minute. However, should any matters that merit disclosure arise in the future, UEC will promptly provide notification of those matters.