close associates benefited from the sale money of the hotel. In addition, during the process of clarification to the SEC regarding the case above, the four directors and executives of the company, at
the financial reporting standards applicable for financial statements covering the accounting period starting from or after Januaury 1, 2020 such as financial reporting standard no. 16 (TFRS16: Leases
under the Connected Transaction 2 Notifications. In case of the private placement investors who have acquired newly issued shares from with this private placement transaction have an intention to propose
be related persons as prescribed under the Connected Transaction 2 Notifications. In case of the private placement investors who have acquired newly issued shares from with this private placement
have the same meaning as defined for the term in the Notification of the Capital Market Supervisory Board regarding Rules on Securities Offering through Crowdfunding. Clause 2 In the case where a group
meaning as defined for the term in the Notification of the Capital Market Supervisory Board regarding Rules on Securities Offering through Crowdfunding. Clause 2 In the case where a group of persons having
shall be positive. In case where the derivatives broker increase its paid-up capital after the issuance of the latest financial statement, such increasing shall be calculated in the shareholder’s equity