Demand for Acquisition Article 166 Shareholders of Shares with a Put Option may demand that the Stock Company acquire the Shares with a Put Option held by such shareholders;provided, however, that this does not apply if, in cases where the properties provided for in Article 107, paragraph (2), item (ii), (b) to (e) are delivered in exchange for the acquisition of such Shares with a Put Option, the book value of such properties exceeds the Distributable Amount under Article 461, paragraph (2) on the day when such demand is made.
The demand pursuant to the provisions of the preceding paragraph must be submitted by disclosing the number of Shares with a Put Option relating to such demand (or, for a Company with Class Shares, the classes of the Shares with a Put Option and the number of shares for each class).
If shareholders of a Share Certificate-Issuing Company intend to submit demand pursuant to the provisions of paragraph (1) with respect to the Shares with a Put Option held by the same, they must submit the share certificates representing the Shares with a Put Option to the Share Certificate-Issuing Company;provided, however, that this does not apply in cases where no share certificate representing such Shares with a Put Option is issued.
