Issue of Equity

 

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:       | [phone]             | 
+------------------+-----------------------------+ 
 
      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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