(Requisite conditions for voluntary disclosure of merger and acquisition activity)
On the condition that all of the following conditions are satisfied the Company may, in order to safeguard the rights and interest of shareholders, make voluntary disclosure to the public of an in-progress merger and acquisition activity upon which the board of directors has not adopted any resolution, but careful consideration must be given to the necessity of such information disclosure, the accuracy of the information disclosed, and the resultant legal responsibility:
- All parties to a corporate merger and acquisition activity have reached an agreement-in-principle and entered into an agreement related to the merger and acquisition activity.
- There is evidence indicating the ability to consummate the merger and acquisition activity, and it is determined that the event is significant and public disclosure is thus necessary.
- Mass media reports or outside rumors are roughly consistent with the facts.