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| Name | Symbol | Market | Type |
|---|---|---|---|
| Paragon M. C47 | LSE:35SV | London | Bond |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0 | - |
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TIDM35SV TIDMMCH TIDMMEL
RNS Number : 5364H
Pioneer Corporation
23 February 2010
For Immediate Release
February 23, 2010
Pioneer Announces Determination of Amount to Be Paid
Relating to Issuance of
New Shares Through
Third-party Allotment to Mitsubishi Chemical Corporation
Pioneer Corporation (hereinafter "Pioneer") hereby announces that it has
determined today the amount to be paid and other matters relating to the
issuance of new shares through the third-party allotment to Mitsubishi Chemical
Corporation (hereinafter "Mitsubishi Chemical"; and the third-party allotment to
Mitsubishi Chemical shall be referred to as the "Third-party Allotment"), which
was resolved at the meeting of its board of directors held on February 9, 2010.
Details are provided below.
In addition to the above, Pioneer has determined today (i) the offer price and
other matters relating to the issuance of new shares in the international
offering (hereinafter the "International Offering") and (ii) the amount to be
paid and other matters relating to the issuance of new shares through the
third-party allotment to Mitsubishi Electric Corporation (hereinafter the
"Third-party Allotment to Mitsubishi Electric"); such International Offering and
such Third-party Allotment to Mitsubishi Electric were resolved at the meeting
of the board of directors of Pioneer held on February 9, 2010. For the details
thereof, please see the announcements "Pioneer Announces Determination of Offer
Price Relating to Issuance of New Shares" and "Pioneer Announces Determination
of Amount to Be Paid Relating to Issuance of New Shares Through Third-party
Allotment to Mitsubishi Electric Corporation", which were also released today.
+----------------------+----------+------------------------------------------+
| (1) Number of Shares | | 1,800,000 shares of common stock (Note |
| to Be Newly Issued | | 1) |
+----------------------+----------+------------------------------------------+
| (2) Amount to Be | | 332 yen per share (Note 2) |
| Paid | | |
+----------------------+----------+------------------------------------------+
| (3) Aggregate Amount | | 597,600,000 yen (Note 3) |
| to Be Paid | | |
+----------------------+----------+------------------------------------------+
| (4) Aggregate Amount | | The amount by which the stated capital |
| to Be Accounted for | | is to be increased: 298,800,000 yen |
| as Stated Capital | | The amount by which the additional |
| | | paid-in capital is to be increased: |
| | | 298,800,000 yen (Note 3) |
+----------------------+----------+------------------------------------------+
| (5) Subscription | | Monday, March 1, 2010 |
| Date | | |
+----------------------+----------+------------------------------------------+
| (6) Payment Date | | Tuesday, March 2, 2010 |
| (Issue Date) | | |
+----------------------+----------+------------------------------------------+
Notes:1.This is the number of shares to be underwritten by Mitsubishi Chemical.
Pioneer has resolved to issue 2,400,000 shares of common stock, however, shares
that will not be underwritten by Mitsubishi Chemical will not be issued.
2.This is the same price as the offer price of new shares to be offered in
the International Offering.
3.Mitsubishi Chemical will underwrite the number of shares stated above in
(1). Consequently, each of the above-described aggregate amount to be paid, the
amount by which the stated capital is to be increased, and the amount by which
the additional paid-in capital is to be increased was calculated based on the
number of shares stated above in (1).
+--------------------------------+-------------------+
| Aggregate amount to be paid: | 597,600,000 yen |
+--------------------------------+-------------------+
| Estimated costs of issuance | 2,570,000 yen |
| (Note 1): | |
+--------------------------------+-------------------+
| Estimated net proceeds: | 595,030,000 yen |
+--------------------------------+-------------------+
Notes:1.Costs of issuance include costs related to commercial registration and
listing fees.
2.Mitsubishi Chemical will underwrite the number of shares stated above in 1.
(1). Consequently, each of the above-described aggregated amount to be paid,
the estimated costs of issuance and the estimated net proceeds was calculated
based on the number of shares stated above in 1. (1).
The total number of shares to be newly issued and underwritten through the
Third-party Allotment and the Third-party Allotment to Mitsubishi Electric will
be 9,330,000 shares (number of voting rights: 93,300), and the ratio to the
current total number of issued shares of Pioneer (210,063,836 shares (total
number of voting rights as of September 30, 2009: 2,048,293)) will be 4.44%
(ratio in voting rights: 4.56%).
+--------------------------+--------+-+--------------------------+-------+
| Before the issuance | | After the issuance |
| (as of September 30, 2009) | | |
+-----------------------------------+-+----------------------------------+
| Sharp Corporation | 14.28% | | Sharp Corporation | 9.63% |
+--------------------------+--------+-+--------------------------+-------+
| The Master Trust Bank of | 5.12% | | The Master Trust Bank of | 3.45% |
| Japan, Ltd. (Trust | | | Japan, Ltd. (Trust | |
| Account) | | | Account) | |
+--------------------------+--------+-+--------------------------+-------+
| Japan Trustee Services | 3.85% | | Japan Trustee Services | 2.59% |
| Bank, Ltd. (Trust | | | Bank, Ltd. (Trust | |
| Account) | | | Account) | |
+--------------------------+--------+-+--------------------------+-------+
| The Bank of | 3.08% | | Mitsubishi Electric | 2.41% |
| Tokyo-Mitsubishi UFJ, | | | Corporation | |
| Ltd. | | | | |
+--------------------------+--------+-+--------------------------+-------+
| Mizuho Bank, Ltd. | 1.90% | | The Bank of | 2.08% |
| | | | Tokyo-Mitsubishi UFJ, | |
| | | | Ltd. | |
+--------------------------+--------+-+--------------------------+-------+
| Mizuho Trust & Banking | 1.88% | | Mizuho Bank, Ltd. | 1.28% |
| Co., Ltd., Retirement | | | | |
| Benefit Trust (Mizuho | | | | |
| Bank Account) for the | | | | |
| Re-trust by the Trustee | | | | |
| of Trust & Custody | | | | |
| Services Bank, Ltd. | | | | |
+--------------------------+--------+-+--------------------------+-------+
| Pioneer Employee Stock | 1.81% | | Mizuho Trust & Banking | 1.27% |
| Ownership Plan | | | Co., Ltd., Retirement | |
| | | | Benefit Trust (Mizuho | |
| | | | Bank Account) for the | |
| | | | Re-trust by the Trustee | |
| | | | of Trust & Custody | |
| | | | Services Bank, Ltd. | |
+--------------------------+--------+-+--------------------------+-------+
| Sumitomo Mitsui Banking | 1.23% | | Pioneer Employee Stock | 1.22% |
| Corporation | | | Ownership Plan | |
+--------------------------+--------+-+--------------------------+-------+
| Trust & Custody Services | 1.16% | | Sumitomo Mitsui Banking | 0.83% |
| Bank, Ltd. (Securities | | | Corporation | |
| Investment Trust | | | | |
| Account) | | | | |
+--------------------------+--------+-+--------------------------+-------+
| Mitsui Life Insurance | 1.01% | | Trust & Custody Services | 0.78% |
| Company Limited | | | Bank, Ltd. (Securities | |
| | | | Investment Trust | |
| | | | Account) | |
+--------------------------+--------+-+--------------------------+-------+
Notes:1.The above table is based on the register of shareholders as of September
30, 2009.
2.The above major shareholders and their shareholding ratios after the
issuance have been calculated by adding (i) the sum of (a) the maximum number of
shares offered in the International Offering (the maximum number of shares:
92,000,000 shares), (b) the assumed number of shares to be issued through the
Third-party Allotment (the number of shares to be underwritten: 1,800,000
shares) and (c) the assumed number of shares to be issued through the
Third-party Allotment to Mitsubishi Electric (the number of shares to be
underwritten: 7,530,000 shares) to (ii) the total number of issued shares as of
September 30, 2009.
3.Pioneer held treasury stocks at the ratio of 2.38% of its total issued
shares as of September 30, 2009, which are not included in the major
shareholders set forth above.
# # # # # #
For further information, please contact:
Hideki Okayasu
Senior Managing Director and Representative Director
Pioneer Corporation, Japan
Phone: +81-44-580-3211 / Fax: +81-44-580-4064
E-mail: pioneer_shr@post.pioneer.co.jp
IR Website: http://pioneer.jp/ir-e/
This information is provided by RNS
The company news service from the London Stock Exchange
END
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