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

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

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

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