Nippon Oil and Nippon Mining Holdings have delayed their merger by six months to April 2010, as they need more time to clear regulatory hurdles with the US Securities and Exchange Commission (SEC).The two companies said they are required to file a Form-F4 registration statement with the SEC before shareholders vote on the merger. Among other things, Form-F4 requires disclosures of financial statements and oil and gas reserves according to SEC standards. Such disclosures have to be made by companies in which US shareholders own more than 10% - and US stockholders own more than 20% of Nippon Mining and at least 12% of Nippon Oil, company executives told reporters.
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