Issue of Equity
September 13 2010 - 4:19AM
UK Regulatory
TIDM85GQ
RNS Number : 5554S
Nippon Sheet Glass Company Limited
13 September 2010
+------------------+-----------------------------+
| Company Name: | Nippon Sheet Glass Company, |
| | Limited |
+------------------+-----------------------------+
| Code: | 5202 |
+------------------+-----------------------------+
| Location of Head | 5-27, Mita 3-Chome, |
| Office: | Minato-ku, Tokyo |
+------------------+-----------------------------+
| Name of | Craig Naylor |
| Representative: | |
+------------------+-----------------------------+
| Contact: | Kazumitsu Fujii |
| | Head of Corporate |
| | Communications |
+------------------+-----------------------------+
| Telephone: | +81 3 5443 9477 |
+------------------+-----------------------------+
Notice Regarding Determination of Number of New Shares to be Issued
Nippon Sheet Glass Co., Ltd. (the "Company") hereby announces that, relating to
the issuance of new shares of its common stock resolved at the meeting of the
Board of Directors held on August 24, 2010, the number of shares to be issued by
exercise of the option to purchase additional newly issued shares of common
stock of the Company to be granted to the International Managers in connection
with the international offering has been determined as set forth below.
Number of shares to be issued by the exercise of the option to purchase
additional newly issued shares of common stock of the Company to be granted to
the International Managers in connection with the International Offering:
18,000,000 shares
Reference
1. Class and Number of New Shares to be Offered
Total of the number of shares of common stock of the Company as shown in (i)
through (iii) below:
222,000,000 shares
(i) Number of shares of common stock of the Company to be purchased and
underwritten by the Japanese Underwriters in Japanese Public Offering:
81,600,000 shares
(ii) Number of shares of common stock of the Company to be purchased and
underwritten by the International Managers with regard to the International
Offering:
122,400,000 shares
(iii) Number of shares of common stock of the Company subject to an
option to purchase additional, newly issued shares of common stock of the
Company to be granted to the International Managers with regard to the
International Offering:
18,000,000 shares
Note: Class and Number of shares to be issued for Issuance of New Shares by way
of Third-Party Allotment: 12,000,000 shares of common stock of the Company
In addition to the abovementioned New Shares to be Offered, with respect to
the Distribution by way of Over-Allotment, the Company has previously resolved
for the Issuance of New Shares by way of Third-Party Allotment of 12,000,000
shares of common stock of the Company to a Japanese underwriter as an allottee,
the Payment Date of which is Tuesday, September 28, 2010. If such Japanese
underwriter makes a full subscription to the Issuance of New Shares by way of
Third-Party Allotment, the sum of the number of New Shares to be Offered and the
number of shares to be issued by from the Issuance of New Shares by way of
Third-Party Allotment will be 234,000,000 shares of common stock of the Company.
2. Change in the number of issued shares as a result of Public Offering of New
Shares
+-----+----------------------+-----------------------+--------------+
| (1) | Total number of | Common Stock | 669,550,999 |
| | issued shares at | | shares |
| | present | | |
+-----+----------------------+-----------------------+--------------+
| | (as of August 31, | Type A Preferred | 3,000,000 |
| | 2010): | Shares | shares |
+-----+----------------------+-----------------------+--------------+
| | | Total: | 672,550,999 |
| | | | shares |
+-----+----------------------+-----------------------+--------------+
| (2) | Increase in number | Common Stock | 222,000,000 |
| | of shares by way of | | shares |
| | offering of new | | |
| | shares: | | |
+-----+----------------------+-----------------------+--------------+
| (3) | Total number of | Common Stock | 891,550,999 |
| | issued shares after | | shares |
| | the offering of new | | |
| | shares | | |
+-----+----------------------+-----------------------+--------------+
| | (as of September 15, | Type A Preferred | 3,000,000 |
| | 2010): | Shares | shares |
+-----+----------------------+-----------------------+--------------+
| | | Total: | 894,550,999 |
| | | | shares |
+-----+----------------------+-----------------------+--------------+
3. Use of Proceeds
We intend to use approximately JPY40,226,680,000 of the maximum net proceeds
from the Japanese Public Offering, the International Offering and the Issuance
of New Shares by way of Third-Party Allotment as follows:
* JPY20,500,000,000 is expected to be applied to capital expenditures to be
used in the financial years ending March 31, 2011, 2012 and 2013, for
construction and repair of production facilities for the Building Products,
Automotive and Specialty Glass businesses;
* JPY4,500,000,000, of which JPY1,000,000,000 and JPY3,500,000,000 are to be
used in the financial years ending March 31, 2011 and 2012, respectively, is
expected to be used to expand our Low-E glass production capabilities in the
Building Products business in China through an investment into a joint venture
in Tianjin, China based on our agreement with Shanghai Yaohua Pilkington Glass
Co. Ltd., and announced on August 17, 2010;
* JPY10,000,000,000 is expected to be used for a partial repurchase and cancel
of our Type A Preferred Shares, prior to October 31, 2010; and
* the remaining amount is expected to be applied to repayment of long-term
borrowings, which will become due during the financial years ending March 31,
2011, 2012 and 2013.
For details of the capital expenditure and joint venture investment, each
mentioned above, see our press release "Notice Regarding Issuance of New Shares
and Secondary Distribution of Shares" announced on August 24, 2010.
end
Note: This press release does not constitute an offer of any securities for
sale. This press release has been prepared for the sole purpose of publicly
announcing that Nippon Sheet Glass Co., Ltd. (the "Company") has resolved
matters relating to the issuance of its new shares and the secondary offering of
its shares, and not for the purpose of soliciting investment or engaging in any
other similar activities within or outside Japan. The securities referred to
above have not been, and will not be registered under the United States
Securities Act of 1933, as amended (the "Securities Act"). The securities may
not be offered or sold in the United States absent registration or an exemption
from registration under the Securities Act.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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