Issue of Equity

 

TIDM85GQ 
 
RNS Number : 0952T 
Nippon Sheet Glass Company Limited 
22 September 2010 
 

                                                              September 22, 2010 
 
To whom it may concern: 
 
+------------------+-----------------------------+ 
| 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 Concerning Determination of Number of New Shares to Be Issued 
                        by Way of Third-Party Allotment 
 
 
Nippon Sheet Glass Company, Limited (the "Company") hereby announces that, in 
connection with the 
 issuance of new shares by way of third-party allotment 
resolved at the meeting of the Board of Directors held on August 24, 2010, it 
has been notified that the allottee elects to fully subscribe for the shares, as 
set forth below. 
 
 
+--------+--------------+--------+-----------------+ 
|  (1)   | Number       |        |      12,000,000 | 
|        | of New       |        |          shares | 
|        | Shares       |        |        (Maximum | 
|        | to Be        |        |       Number of | 
|        | Issued       |        |      New Shares | 
|        |              |        |       Issuable: | 
|        |              |        |      12,000,000 | 
|        |              |        |         shares) | 
+--------+--------------+--------+-----------------+ 
|  (2)   | Amount       |        |         173.52 | 
|        | to be        |        |             per | 
|        | Paid         |        |           share | 
+--------+--------------+--------+-----------------+ 
|  (3)   | Total        |        |  2,082,240,000 | 
|        | Amount       |        |                 | 
|        | to be        |        |                 | 
|        | Paid         |        |                 | 
+--------+--------------+--------+-----------------+ 
|  (4)   | Amount       |        |             The | 
|        | of           |        |          Amount | 
|        | Stated       |        |              of | 
|        | Capital      |        |          Stated | 
|        | and          |        |         Capital | 
|        | Capital      |        |           to be | 
|        | Surplus      |        |      Increased: | 
|        | to be        |        |  1,041,120,000 | 
|        | Increased    |        |   The Amount of | 
|        |              |        |         Capital | 
|        |              |        |   Surplus to be | 
|        |              |        |      Increased: | 
|        |              |        | 1,041,120,000  | 
+--------+--------------+--------+-----------------+ 
|  (5)   | Subscription |        |       September | 
|        | Period       |        |        27, 2010 | 
|        |              |        |          (Mon.) | 
+--------+--------------+--------+-----------------+ 
|  (6)   | Payment      |        |       September | 
|        | Date         |        |        28, 2010 | 
|        |              |        |          (Tue.) | 
+--------+--------------+--------+-----------------+ 
 
Reference 
1. This third-party allotment was resolved at the meeting of the Board of 
Directors held on August 24, 2010, together with the issuance of new shares of 
the Company by way of offering and secondary distribution of shares (offering by 
way of over allotment). For details of the third-party allotment, see our press 
releases "Notice Regarding Issuance of New Shares and Secondary Distribution of 
Shares" announced on August 24, 2010 and "Notice Regarding Determination of 
Issue Price, Selling Price, etc." announced on September 8, 2010. 
2. Change in the number of issued shares as a result of the third-party 
allotment 
+-----+------------------------+--------------------+--------------+ 
| (1) | Total number of issued | Common Stock       |  891,550,999 | 
|     | shares at present      |                    |      shares  | 
+-----+------------------------+--------------------+--------------+ 
|     |  (as of September 22,  | Type A Preferred   |    3,000,000 | 
|     | 2010):                 | Shares             |       shares | 
+-----+------------------------+--------------------+--------------+ 
|     |                        |            Total:  |  894,550,999 | 
|     |                        |                    |       shares | 
+-----+------------------------+--------------------+--------------+ 
| (2) | Increase in number of  | Common Stock       |   12,000,000 | 
|     | shares by way of       |                    |       shares | 
|     | third-party allotment  |                    |              | 
|     | of new shares:         |                    |              | 
+-----+------------------------+--------------------+--------------+ 
| (3) | Total number of issued | Common Stock       |  903,550,999 | 
|     | shares after the       |                    |       shares | 
|     | third-party allotment  |                    |              | 
|     | of new shares:         |                    |              | 
+-----+------------------------+--------------------+--------------+ 
|     |                        | Type A Preferred   |    3,000,000 | 
|     |                        | Shares             |       shares | 
+-----+------------------------+--------------------+--------------+ 
|     |                        |            Total:  |  906,550,999 | 
|     |                        |                    |       shares | 
+-----+------------------------+--------------------+--------------+ 
 
3. Use of Proceeds 
We intend to use approximately JPY40,226,680,000 of the 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. 
 
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 the determination of the number of shares to be issued in connection 
with the issuance of new shares by way of third-party allotment, 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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