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. Outline of Third-party Allotment
(1) Number of Shares to Be Newly Issued: 1,800,000 shares of common stock (Note 1)
(2) Amount to Be Paid: 332 yen per share (Note 2)
(3) Aggregate Amount to Be Paid: 597,600,000 yen (Note 3)
(4) Aggregate Amount to Be Accounted for as Stated Capital:
The amount by which the stated capital is to be increased: 298,800,000 yen
The amount by which the additional paid-in capital is to be increased: 298,800,000 yen (Note 3)
(5) Subscription Date: Monday, March 1, 2010
(6) Payment Date (Issue Date): Tuesday, March 2, 2010
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).
2. Amount of Funds to Be Raised
Aggregate amount to be paid: 597,600,000 yen
Estimated costs of issuance (Note 1): 2,570,000 yen
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).
About Pioneer
Pioneer Corporation is a leading global manufacturer of consumer and business-use electronics products such as audio, video and car electronics. Its shares are traded on the Tokyo Stock Exchange (TSE: 6773). For more information , please visit http://pioneer.jp .
Source: JCN Newswire