Determination of Number of Shares to Be Issued
24 February 2010 - 6:43PM
UK Regulatory
TIDM35SV
RNS Number : 5935H
Pioneer Corporation
24 February 2010
For Immediate Release
February 24, 2010
Pioneer Announces Determination of Number of New Shares to Be Issued
Pioneer Corporation (hereinafter "Pioneer") hereby announces that, in connection
with the issuance of new shares in the international offering, which was
resolved at the meeting of its board of directors held on February 9, 2010, the
number of shares to be issued upon the exercise of the increase option of the
additionally and newly issued shares granted to the underwriter has been fixed
today. Details are provided below.
+-------------------------------------------------+----------+----------------------------------+
| The number of shares to | | 12,000,000 |
| be issued upon the | | shares |
| exercise of the increase | | |
| option of the | | |
| additionally and newly | | |
| issued shares granted to | | |
| the underwriter in | | |
| connection with the | | |
| offering to be made | | |
| outside Japan (but not in | | |
| the United States and | | |
| Canada) and mainly in | | |
| Europe (hereinafter the | | |
| "International | | |
| Offering"): | | |
+-------------------------------------------------+----------+----------------------------------+
[For Reference]
1. Number of Shares to Be Offered
92,000,000 shares of common stock of Pioneer, which is the sum of (i) and (ii)
below.
(i) 80,000,000 new shares to be purchased and underwritten by the underwriter.
(ii)12,000,000 new shares to be issued upon the exercise of the increase option
of the additionally and newly issued shares granted to the underwriter.
2. Change in the Number of Shares Issued as a Result of Issuance of New Shares
+------------------------------------------------+--+-----------------------------------+
| Total number of shares | | 210,063,836 |
| issued | | shares |
| (as of December 31, | | |
| 2009): | | |
+------------------------------------------------+--+-----------------------------------+
| Increase in number of | | 92,000,000 |
| shares as a result of | | shares |
| the International | | |
| Offering: | | |
+------------------------------------------------+--+-----------------------------------+
| Total number of shares | | 302,063,836 |
| issued after the | | shares |
| International Offering: | | |
+------------------------------------------------+--+-----------------------------------+
| Increase in number of | | 9,330,000 |
| shares as a result of | | shares |
| the third-party | | |
| allotments in Japan | | |
| (Note): | | |
+------------------------------------------------+--+-----------------------------------+
| Total number of shares | | 311,393,836 |
| issued after the | | shares |
| third-party allotments | | |
| in Japan: | | |
+------------------------------------------------+--+-----------------------------------+
Note: This indicates the sum of number of shares to be underwritten by
Mitsubishi Electric Corporation in the third-party allotment to Mitsubishi
Electric Corporation and number of shares to be underwritten by Mitsubishi
Chemical Corporation in the third-party allotment to Mitsubishi Chemical
Corporation, which third-party allotments were resolved at the meeting of the
board of directors of Pioneer held on February 9, 2010.
# # # # # #
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 news release has been prepared for the purpose of announcing to the public
certain matters relating to the offer and sale of the shares of Pioneer
Corporation (the "Company"), and not for the purpose of inducing any investment.
This press release is not an offer of any securities of the Company for sale in
Japan, the United Kingdom or the United States nor shall it constitute an
invitation or inducement to engage in investment activity or financial promotion
for purposes of the Financial Services and Markets Act 2000 of the United
Kingdom. The securities have not been and will not be registered under the U.S.
Securities Act of 1933, as amended (the "Securities Act") and may not be offered
or sold in the United States absent registration or an exemption from
registration under the Securities Act. No public offering of securities in
Japan, the United States or the United Kingdom will be made in connection with
the offering described herein.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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