structure is only an example of acquisition through the chain principle. 12. If the acquisition results in an obligation to make a tender offer for all securities of the business in compliance with the

of nominated directors Total number of directors Remark: The above structure is only an example of acquisition through the chain principle. 12. If the acquisition results in an obligation to make a

Total number of directors Remark: The above structure is only an example of acquisition through the chain principle. 12. If the acquisition results in an obligation to make a tender offer for all

nominated directors Total number of directors Remark: The above structure is only an example of acquisition through the chain principle. 12. If the acquisition results in an obligation to make a tender offer

Remark: The above structure is only an example of acquisition through the chain principle. 12. If the acquisition results in an obligation to make a tender offer for all securities of the business in

holding of shares Number of nominated directors Total number of directors Remark: The above structure is only an example of acquisition through the chain principle. 12. If the acquisition results in an

of nominated directors Total number of directors Remark: The above structure is only an example of acquisition through the chain principle. 12. If the acquisition results in an obligation to make a

nominated directors Total number of directors Remark: The above structure is only an example of acquisition through the chain principle. 12. If the acquisition results in an obligation to make a tender offer

of nominated directors Total number of directors Remark: The above structure is only an example of acquisition through the chain principle. 12. If the acquisition results in an obligation to make a

nominated directors Total number of directors Remark: The above structure is only an example of acquisition through the chain principle. 12. If the acquisition results in an obligation to make a tender offer